“Time is what we want most, but what we use worst.”–William Penn.
Now, you must be wondering why I am bringing up the topic of time management. Someone has said that time is money. I personally believe that an individual’s financial success largely depends on how she chooses to spend her time. If you spend time on activities which can make you wiser and improve your job and career related skills, you are definitely going to get higher ROI (return on your investment). After all, your time is also an investment. On the other hand, if you are going to spend time going for a window shopping or watching TV, you will not gain anything but lose your precious time and add on to your stress because you might run against the time for other activities. If you are true to yourself, you will definitely get a way out to end all your financial worries. You have to be conscious and be aware of what is happening around you. Try to find out what are the basic skillsets required for you job and what gives you a winning edge. It is not a bad idea to get a certification from your local community college or join an online community like (Coursera.org and Edx). If your colleague has recently got a raise because she knew a foreign language, why not sign up for a language course in your local library. It is free and it can give you a general idea whether you want to spend more time and resources on acquiring that language. Even, reading some financial planning books can help you manage your money and grow your investments effectively, which is truly rewarding. The possibilities of raising your income or building wealth are endless, provided you spend your time judiciously and pick your activities wisely. If you have trouble choosing the right activity, here is an easy way out. Ask yourself these 3 questions before you spend your next hour on any activity.
- Is this activity going to enhance my current knowledge about any subject whether it is finance or marketing?
- Is this activity going to make me richer one day, if I do it over and over again?
- Is this activity going to give me a competitive advantage over my colleagues/competitors (if you own a business) if I do it over and over again?
Needless to say, if you get the affirmative answer for even one question, you are making productive use of your time. On the other hand, if you get negative answers for all the questions, you know that you are going to waste your time on some unproductive activity.
“Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.”– Zig Ziglar.