Does Time Management Affect Your Financial Freedom?

If you have a goal for building wealth or achieving financial freedom as well as a goal for getting better control of your time, you might not have considered that the two are directly related. The way that you manage your time certainly has a profound effect on your ability to get things done and that includes the things which you do to earn money and executing your financial plan. Managing your time well also helps you to find the time to exercise and to keep your body in good shape and your energy level high.

Considering the impact which medical bills can have later in life, this further proves that good time management skills are essential to long-term success in gaining financial freedom. In this article, we’ll look at three essential things which you must do in order to get control of your time…

Think Energy Instead of Time

When you think about it, time can’t be managed, you have 24 hours in a day and there’s nothing you can change about that. At the end of the day, you don’t run out of time, you run out of energy and you have to sleep. The more energy that you spend on things which aren’t important, the less you’ll have to spend on things which are.

What can you do to start managing your energy better? Start out by using your high energy times (like in the morning) to execute the things which are most important to you. If you wait until the end of the day, you might fall prey to the “I’m so tired, I can’t focus…I’ll just do it tomorrow ” trap.

Find the things which require the highest concentration and focus and get them done early. This way, when the end of the day comes and your energy is lower, you won’t feel as overwhelmed by the idea of what still needs to be done.

It’s also important to think of emotional energy as a form of physical energy, because the emotions are really a condition of the body. Too many people waste their emotional energy on things which aren’t that important and wonder why they cannot focus on what is. So always be asking yourself whether or not what you’re doing is the best use of your energy and prioritize accordingly.

Focus Only on High Value Tasks

One of the most important decisions you’ll make when it comes to efficient use of your energy/time is focusing only on high value tasks whenever possible. For example, it might be a good idea to pay someone $50 a month to take care of your lawn so that you can use those three to five hours to focus on your financial plan or your investing plan. Most likely, that extra time will yield enough financial value to make up for the $50 and then some.

Wealthy people are always looking for ways to buy back their time so that they can recommit it to the most high value tasks, so follow their example and you’ll have a lot better chance following in their footsteps.

Great Success!

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