Investing Vs Spending - Are You Making the Most Common Mistakes People Make With Their Time?

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Investing Vs Spending - Are You Making the Most Common Mistakes People Make With Their Time?

Posted By: Christina Helwig | Posted On: 2008-11-23 | Article ID: 118744

How we "spend" our time

We spend time when what we do does not benefit us in the future. Watching t.v. for example is "spending time." After that program is over an hour is gone and you have nothing to show for it except a little enjoyment. The same can be said for occupying yourself with menial tasks that could be handled by another person. You have a small benefit but no lasting effects.

How we "invest" our time

Investing time is when you do something that benefits you in the future. Reading a book on your area of expertise is an example. You are giving up the time to read the book for the reward that the increased knowledge will bring you in the future. Working out is another example of investing your time. That hour on the treadmill has a lasting benefit for you by increasing your health, flexibility, strength and stamina.

Change your activities to investment activities

Once you start to look at activities as either "spending" or "investing" activities you can start to make rapid progress towards your goals. By cutting down on spending your time on unproductive activities and actions, you increase the amount of time you have to really make things happen in your life.

Take an investment / spending audit

The first thing you will want to do is take an investment / spending audit of your time. For an entire week you will write down what you spend or invest your time on, even if you just sit down and watch the news for 15 minutes. Write down everything. The easiest way to do this is to print off a time sheet from Outlook that has 15 minute intervals that encompasses your waking hours. Be honest with yourself and keep an accurate count of your activities.

Trim your "budget"

When you have your time audit completed, go through it and find where you are spending time instead of investing it. Can you cut back on the t.v. watching time, the time you spend on the phone for no real purpose or even on some of the menial chores that could be hired out? Once you have your top time wasters identified think about the activities that would move you closer to your goal in the shortest amount of time.

Convert your schedule

Take an hour and plan out your new schedule and then print it off and hang it everywhere: near the t.v., on the fridge and by your desk. You want to see this new schedule everywhere you look so that it acts as a constant reminder that you have "better" things to do with your time.

Make it happen and take action!

For your new schedule to pay dividends you must act on it and break your old time spending habits. All the good intentions in the world do nothing if you don't act on them. Everyday make sure that you are checking your schedule and doing what you have planned for that time slot. If you make sure to follow your new schedule and you invest your time instead of spending it you will be amazed at how quickly you move closer to your goals.

Another good thing you can do is to set aside a few minutes each day to work on and learn about how you can reach your goals. Simply taking out six minutes a day can make a big impact.

Article Source: http://www.articlecell.com

About The Author
Christina Helwig
Take a look at this web-site www.sixminutetransformations.com to learn more how you can fit quality learning into short bursts in your day. Christina Helwig is an attorney and Vice-President of Wealth Expressions, Inc.

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