Time is money, how you can manage your time better?

You often heard this – Time is money! Yes, you can exchange your time with money. The more time you have, the greater chance you can be richer. You can observe your environment, those are extreme rich mostly have more time than others, how do they manage their time?

Effective time management is to put first things first, one of the 7 habits for highly effective people introduced by Stephen R. Covey. Things which matter most must never be at the mercy of things which matter least. Here are the 2 questions (introduced in S.R. Covey’s book) that you can use to decide what are the important things:-

  1. What one thing could you do that if you did it on a regular basis, would make a tremendous positive difference in your personal life?
  2. What one thing in your business or professional life would bring similar results.

After understanding the priority, you can split your tasks according to time management matrix.

Urgent matters (Quadrant I & III) are usually more visible. We see the urgent matters more than those not urgent. Hence, we will tend to react more to things which are urgent and we keep putting off the task which are not so urgent.

When we talk about the importance of the tasks, we are referring to tasks which can bring us the results that we want. However, because the visibility of these important tasks is less, we might keep delaying the tasks until they become urgent.

The quality of our life has to do with what we decide to do every day. It has no doubt link to how we manage our time to seize the important task into our daily schedule. The above chart is important for us to understand the type of tasks that we are doing every day. We can then plan out our schedule.

  • We DO the urgent and important tasks immediately.
  • We PLAN the not urgent but important tasks and we need to SCHEDULE when will we do them. Things not scheduled will not be done. SCHEDULLING is important to ensure this type of tasks will be done next after the quadrant I task.
  • We DELEGATE the urgent but not important tasks. Most of the tasks in this quadrant are administrative tasks. Most of us, if we are not aware, are spending time on urgent & important and urgent & not important tasks. This results the quadrant II tasks are being ignored and put off.
  • We can ELIMINATE the not urgent and not important tasks.

With this guideline, our time should now be properly managed. If we can improve 1% everyday, we will be able to improve 37% in a year (1.01^365). Then, you shall see your wealth increased as well. Time is money, right?


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