Time Management
Time management is a very important skill to have. There are only 24 hours in a day. Most people waste 8 hours a day sleeping. If you cut back two hours a day and sleep for 6, that’s an extra 2 hours you could use to get something else done.
An extra 8 hours is at a full time job, for most people. An extra hour or two is spent driving. All of this accumulates to about 15 hours! How are you going to manage your time effectively for the rest of the day?
Outsourcing Mundane Tasks
Personally I am a huge fan outsourcing. I outsource mundane tasks frequently for my business. Outsourcing frees up your time for important tasks, such as content creation. Outsourcing can be applied to non-business scenarios too.
Let’s say you have a bunch of yard work that needs to be done, but you don’t want to do it yourself. You would hire a landscaper to take care of the job. The question is are you willing to pay the money so you can spend time doing whatever else it is you need to do? Or do you need to save that money for something else?
Time Management Vs. Money Management
Time management also goes hand in hand with money management. It blows my mind how many people put themselves in debt. Debt is one of the biggest stressors there is. Why do that to yourself?
In a way I get it. You put something on credit, and then another thing, and before you know it you have all these things to pay off. It’s an easy thing to do. A good way to NOT go in debt is to use debit most of the time. That way you’ll be able to see more clearly what your balance is in real time, rather than what you have to pay back later.
Ask Yourself This
I am not a financial advisor and this is not financial advice. I am just giving you advice on how to effectively manage your time, which goes hand in hand with managing your finances. So for every task you need to take care of, ask yourself “Would I rather do this myself or pay someone else to do it?” If you have the time to do everything on your own, you’ll save a lot of money that way!
For me, I always ask this question when I’m managing my online business. It’s a work in progress. There is so much to do, so I LOVE outsourcing those mundane tasks or relying on software to help me get traffic. The most important aspect of any business is content creation, time management, and traffic generation.
I hope this post helps you more effectively manage your time and allows you to get more things done in the day!
image credit: https://pixabay.com/en/investment-time-time-management-2400559/
I am self-employed and I also like to outsource the "busy" work in my business. On the flip side, I am well versed in the commonly outsourced tasks that a virtual assistant takes on...so when I'm in a financial bind, I can offer services to make money quickly. You are totally right though, you are always paying with time or money it seems!
Yeah. Everyone either pays with time or money. What kind of services do you offer and where do you offer them online? I know Fiverr is a good place to offer services. I'd be interested to know what you do and how you do it if you are in a financial bind and you need the money quickly.
What do you actually do in your online business? Does it provide a steady stream of income? Same question for you @musicman99
I would rather pay with money then with time. I actually posted a video talking about this same exact topic
. Time lost cannot be regained whereas you can always make more money.
Agreed. Although it can be difficult to pay for stuff if you're on a limited budget. In that case you'd have to use your own time instead.
That's true. I'll opt to safe time whenever possible. That is goal, to have more time to do what really matters right?
Time management is so difficult. I outsource a bit, but I love doing all the little aspects of the business. I don't think that's because I'm a control freak, but maybe it is. Maybe that's something that I need to re-evaluate. Thanks for bringing this to our attentionn.
You're welcome. Well I am very picky about what I choose other people to do also. If it's something that I can not do, then I'll outsource it for sure. Or if it just takes too much time, I'll outsource. Most things I do on my own, because a lot of other people will do a poor job which is frustrating. What is your business?
When I read this title, I thought, Money can be regenerated, time can't.
My objective is to create enough passive income, and trade that for time.
Like yourself, I'm an online entrepreneur, so I can relate to the dynamics you speak about.
One point where I'd beg to differ is where you say that, "Most people waste 8 hours a day sleeping."
Well, in my case, I wouldn't consider that a waste. If I can get by on 6 hours, good, but if I'm tired and ignoring my body's call for sleep, I find that i won't be focused enough to even write well.
For me, adequate, good quality sleep is a non-negotiable.
I will add a bit of a qualification to that: ideally, I like to sleep after I've exhausted some effort into my day. If I know I worked hard, or made some progress, then I deserve to sleep.
I sleep not to sleep, but to recharge so I can do more.
Sleep is definitely important. I'm not saying it isn't, but everyone's body works differently. For me, my sleep is broken up because my day job is exhausting. So everyone has to do what is best for them. It's just 8 hours is already 1/3 of the day gone. My goal is to also create passive income. The online world is definitely a difficult one to navigate, but well worth it when you can make it work to build the life of your dreams.
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