UILabel with current time
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I have a UILabel that I want to show the current time (HH:mm) (the same time as in the status bar).

How do I update the label to change to the new time? If I schedule an NSTimer with an interval of 60 seconds, then label could be out of time by up to a minute, if the timer fires just before the system time's minute changes?

Would it be ok to set the timer's interval to 1 second, or will that use more resources than necessary? Or is there another way to make sure the label will stay in sync with the status bar clock (preferably exactly, but 1 second lee way is ok)?