Rule # 2: Time is Money so Stop Wasting Time

by RobSake on July 20, 2012

Time is money so time management is the same as money management. In this part of our Money Rules Series, we will be discussing about the important of time in our money making efforts.

We have already learned from Money Rule # 1 regarding spending less than what we earn, right now, another important aspects in money making is our own ability to use the most expensive assets every individual have, time.

Every individual no matter how successful they were right now were given the same time but they have used the time in the most effective way which enabled them to become successful. We have the same allotment of time with a total of 168 hours per week. Bill Gates utilized the same time but he founded Microsoft. We have the same 168 hours per week with at least 120 waking hours during a given week.

Time is Money

Given with the 120 waking hours to utilize, most of us sell the majority or our time to someone else in exchange for money. We spend a lot of time working, then we come home doing some household chores which also eats up some of our time. Before we go on working for other people we also consumed some time for our personal hygiene.

Due to the complexity of time most of our time were spend just for work and sooner or later we will find out that there’s only a small pile of hours in a given week to do with what we please. Those are precious hours which is supposed to be use for our body to relax, we can use those time to interact with family and friends.

As bloggers or even just a simple employee we pay a hefty price for those hours for we invest so much time in work, hygiene, and household chores leaving behind some hours as a semblance of joy. Our financial choices are intended to either make those free hours enjoyable or to make them safer.

Wasting time is one of the worst habit that leads to failure. We get behind at work, we reduce our ability to earn more and those taking away from the enjoyment of the remaining time. We oftentimes waste idle time at home and when opportunity knocks we can’t participate because we have too many other things we’re behind on.

In a simple explanations, wasting time takes away from those valuable hours that we work so hard for. Time management simply seeks to give us more of those hours or make other hours produce more money.

Time is money, and when you manage your time well, you manage your money well, too.

Here are some of the most valuable techniques to manage your time:

1. Start your day with some planning. Making a list of your daily needs is one of the most important things to do in time management. Investigate each list for a few minutes and make sure you have the information, ideas, and materials you need to actually execute each item. You can save plenty of time if you have the task framework, it will keep you from burning time in the middle of the day wondering what’s best to do next.

2. Alternate between multi-tasking and single-tasking sessions. Segregate between multi-tasking works and single-tasking jobs. Simple tasks such as phone calls, e-mails, filings and so forth can be multi-task but those jobs which requires concentration and focus should done with single-tasking sessions. Don’t let interruptions bother you that will reduce the quality of your work. One of the best way to perform a single-tasking job is to turn off your communication routes such as your phone, close your email program, and any other distractions for an hour or so and bear down on a task that needs to be done. When it’s finished, go back into multitasking mode and get caught up on your messages and information.

3. Meditate. Although this sounds counterintuitive, but it really works. Meditation will lead you into better understanding of your current situation especially in terms of time management. Try meditating for fifteen or twenty minutes near the end of your work day. Just sit in a chair and relax.

4. Jot down the things which come out in your mind. It is better to keep a notebook and pen or if you have smartphone or tablet keep it near you at all times. Jot down immediately whenever something pops into your head to do later or think about later, jot it down immediately. If you have time then review your notes. There are times that we need to jot down important but simple tasks such as personal things, a person you want to get in touch, getting these things out of your head and put into paper/smartphone/tabs than you can spend less mental energy trying to remember it and use the energy instead focusing on your current tasks.

In time management another important tactic is to find ways to spend your free time simultaneously which will help you grow as a person and bring you enjoyment. Some of the suggestions is to read literature that really pushes your mind, going for a jog and other social activities. It will increase your energy at work, improve your mental acuity, and raise the bar on your ability to interact with others and network.

Money Rule number 2 will help us in making our way into the ladder of success and time is one of the most important aspects in our journey. How about you how did you spend your time wisely? Just add your comments below to let us know.

 

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