Be Frugal With Your Time Just as You Would Be Frugal With Your Bank Account

19I’ve often mentioned managing your time effectively, because time is the one thing that you cannot get back. This has been increasingly important for me because I have a ton of things on my plate and I am kind of Type A so I think that I can do everything.

When you look at your time, you have 24 hours in a day. To be healthy you need 7-8 hours of sleep per night.  Many of us work during the day so that is 9-10 hours that your time is accounted for.  So, that leaves you with about 6-8 hours that is yours, not counting the time used for getting dressed, your commute, and running errands!

Unfortunately, in the business of our days we often think about the quantity of the tasks that we accomplish instead of the quality. I’m currently reading the book, The One Thing by Gary Kellar, and it is helping me to dramatically change my mindset about what I do every day.  Instead of thinking about the number of things that I can do, I think about the tasks that I can do that will bring me the greatest return.  When you are a solopreneur, you think that everything is important and you have to do everything.  However, if you think about the one thing that will bring you the biggest value then you can do more by doing less.

This is similar to the concept of managing money.  If you think about where you get the biggest benefit for your money, then you can spend less and have higher quality purchases.  When we spend we ask ourselves questions like:

  • Do I really need this?
  • Do I have this already?
  • What is a better use of my money?
  • Is there another way to accomplish the same outcome without the cost?

You need to think about your time in a similar manner.  Unfortunately we will never have more than 24 hours in a day. We can only control the things that are in our control – how we spend our time and who we allow to spend it. Ask yourself:

  • Do I really need to do this activity at this time or at all?
  • Have I already done something similar and can I pass this time?
  • Is there a better way to use my time?
  • Is there another way to accomplish the same outcome without this type of time commitment?
  • Am I spending  time in a manner that is helpful to others?
  • Am I engaging in personal growth?
  • Am I actively building my dreams or following my passion?
  • Am I spending time with loved ones?

Here are some other things to think about.  Are you constantly watching reality “ratchet” TV and feeding drama and negatively into your mind?  Remember garbage in equals garbage out.  Think of this as making low quality purchases that sit in the back of your closet and collect dust.  Those purchases were a totally waste of money.

As you go throughout this week, conduct a time analysis. Look at how you spend your time vs what you say you want to do.  Remember it’s ok to say no and pass on an activity if it doesn’t align with your goals.  Be frugal with your time just as you would be frugal with your bank account – if you can’t afford it don’t spend it!

If you want more tips and resources, download your FREE Hotsheet that will show you the best online savings sites and apps!  Click here to download!

Aisha Taylor is a #1 Amazon Best Selling Author of the book “5+5 FNPhenomenal Ways to Save $100 This Week Without Killing Your Lifestyle”, the Founder of FNPhenomenal (Frugal –n- Phenomenal), and creator of The Live Phenomenal Program. The Live Phenomenal Program is a program designed to give you the tools that you need to totally transform your finances, and stop living from paycheck-to-paycheck. It’s time for you to be Financially Phenomenal! Book your complimentary 20-minute financial clarity session with Aisha here.

[info_box type=”alert_box”]Caring for yourself including takes care of your finances.  I encourage all ladies who are serious about self-care to go on The Happy Finances Challenge. In 42 days you can learn to make money decisions that will lead to long-term financial happiness.  [/info_box]

Leave a Reply

Your email address will not be published. Required fields are marked *