Free time, because if I have free time I could do everything I wanted to do, in addition to the main activities such as studying or working. There is time to do what they like.
Free time, because if I have time, I can do everything I want to do other than core activities, such as school or work. There is time to do something like that.
Time, because if I have some free time, I can do what you want to do, besides the main activities, such as school or work, have time to do what you like.