The U.S. Mint prints about $600 Million dollars daily. In my 30 plus years I have yet to find a time factory that makes more time…have you found that? If you have please tell me where it is. Time is the most valuable commodity. We never seem to have enough of it. Everyone is time-strapped, time-poor, time-starved. Choose your cliché. Time is a curious good economically in other ways, too. It is highly perishable. Were it a bank account, time would pay no interest, close itself out each night, carry over no balances, and allow no overdrafts. What does that mean for the value of time? It is also tradable in particular ways. We can reallocate time, but we can’t increase our supply. I can shop for food rather than grow it myself (or order in dinner rather than cook), using the time I save to undertake higher-value activities that will let me pay for my outsourcing.
As we measure the durations of events and the intervals between them, we must realize we all have 86,400 seconds in each day, we need to learn to manage them to achieve our goals. If each one of those seconds were a dollar we would invest wisely and look for some sort of return on each of those seconds. Many of us think we have an abundance of time, especially when we are young, but the older we get we begin or should begin to see that the clock moves rapidly.
Here are 5 tips to help you get a good return on your time:
Asses Time Needed Currently: Identify how much time it takes you to complete your daily commitments. You must know how much time you have available to ensure that you are investing it wisely.
Determine Available Time: How much time do you have available after you complete your commitments. You must know how much is left after you have completed all required task in order to know what else you are able to accomplish or invest your time in. Once you know this number you can determine what if anything else you have room for.
Identify Wasted Time: In order to be effective you must know where you are not being effective. Maybe you spend too much time watching television, talking on the phone, shopping or on social media. You must determine what you are able to let go of to replace with something valuable.
Identify Income/Value Producing Activities:
Seek out activities, projects or chores that add value to your life and move you closer to where you desire to be. Determine how much time is needed to make these activities a part of your routine.
Block your Time:
Time blocking tools and techniques to help participants manage time effectively. Once you know everything that you are required to do to reach your destination you must black it and place it in your schedule. Blocking means during certain times of the day you should only be doing specific events listed on your block. This technique will help you focus on your priorities and provide order to your day.
By following these 5 simple tips you are on your way to being serious Time investor that realizes that time is more valuable than money, therefore you are committed to maximizing it.
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