Tag Archives: Time Management

How to Get Lean With Your Time

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We have kicked off 2014 with a mission to improve financial efficiency, by declaring it as the “Year to Get Lean.” Lean refers to the production system pioneered by Japanese automobile makers, Toyota, which focuses on eliminating wasteful processes to improve profitability.

This concept of reducing waste can also be applied to your personal and professional life. If you want to be a peak performer in all your activities and be successful with your goals, then lean is the way to go. This week, we will look at strategies to incorporate lean techniques in time utilisation.

There are three Japanese words that explain the types of inefficiencies that can hamper your results. Muda means idleness or wastage of resources when carrying out your tasks, mura is the unbalanced or irregular usage of resources, while muri means excessive or impossible activities. Continue reading How to Get Lean With Your Time →

Money Mission: Count Your Blessings

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All too soon, we have come to the final month in 2013. Over the year, our ‘money mission’ columns have tried to keep you on target with your goals; encouraging you to carry out specific objectives to further your plans, and giving you strategies to overcome obstacles that can hinder your progress.

We’ve covered diverse topics such as overcoming disappointments, earning independent income, looking for opportunities in change, and discovering your motivating force. We’ve also shown you how to focus on a priority goal, get organised, control your time and complete your tasks.

Rest, reflect and review

Although December is usually consumed with thoughts of shopping and revelry, for this month, we invite you to spend some time in reflection. Consider the financial successes that you have enjoyed, as well the money mistakes you have made. What lessons have you learned from them? Continue reading Money Mission: Count Your Blessings →

Money Mission: Lose Your Excuses!

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We’re now at the halfway mark in the year, and it’s incredible that six months have already passed us by. Time marches steadily on and it certainly isn’t waiting on us to join the parade! The year 2013 will disappear before you realise it; how successful have you been at keeping your resolutions?

In assessing the actions you have taken thus far towards achieving your goals, how would you rate your progress? Are you enthusiastic about your development, underwhelmed with your results, or have you simply resigned yourself to yet another year of missed opportunities?

Six months to succeed
The good news is that you still have the ability to make this year count; there are still six months left to pursue your objectives. It’s now a great time to identify the recurring issues which may prevent you from moving forward, and refocus your energies towards success. Continue reading Money Mission: Lose Your Excuses! →

Creating a Time Budget

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This month, the focus has been on getting organised so that you can be better equipped to accomplish your goals. If you study the habits of successful people, you will recognise that they all learned how to effectively organise and control their resources to achieve great things.

One of the most important skills that will be required for goal attainment is time management. Your plans for your future will not be realised unless you have a proper time utilisation strategy to carry out the necessary tasks. One way to accomplish this objective is to create a time budget.

Design a schedule for your time

To budget your time, you should first design a timetable that lists blocks of time on the left-hand side in half-hour increments, and the seven days of the week along the top of the page. To make this process easier, you can simply download a time budget spreadsheet on www.financiallysmart.org. Continue reading Creating a Time Budget →

How to Overcome Time Poverty

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We have been looking at one of the main stumbling blocks to personal and financial success — the inefficient use of the precious resource of time. Many people will argue that they really wish to start the process of change that will take them towards actualising their goals, but they find it very difficult to dedicate enough time to do what is required.

With work commutes that can take hours, job responsibilities that go beyond the contracted nine-to-five, and various commitments to children, service clubs or school, the average person is severely starved of unscheduled time. We may be able to find ways to alleviate our money deficiencies, but how can we overcome the challenge of time poverty?

Educator and author of Overcoming Time Poverty, Bill Quain, explains that if you feel like you don’t have enough time in your life, you may think you can fix the problem by becoming more efficient at what you do. On the contrary, Quain says, “You don’t need more time to do the same things you are doing now. You need to do different things in order to have more time in your life.” Continue reading How to Overcome Time Poverty →

Money Mission: Make Time for Your Money

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The month of January has already bid us a swift farewell. We have all heard the old adage, ‘Time waits for no man’ and the days, weeks and months of 2013 will not delay their passing for any of us. How successful have you been in getting started on the resolutions that you were determined to accomplish this year?

For our monthly ‘Money Mission’ columns this year, I would like to focus on strategies that will help you keep your dreams in the forefront of your minds. Don’t accept the mistaken belief that it is impossible to accomplish your resolutions; with clarity about your goals and the right attitude you can adopt new habits that will help you to be successful.

What do you do with your time?

Many people find that even though they are desperate to make changes to their financial situation, they just can’t get the time to do what they need to do. We often let work pressures and trivial events distract us from our goals. We stop thinking about and carrying out the daily steps required to maintain our progress; thereby relegating our future to the back burner.

It’s pointless to say “If only I had a little more time, I could really get going with my plans,” as we all have the same number of hours, minutes and seconds to utilise each day. Wealthy persons and successful achievers don’t have some secret stash of time that puts them ahead of the pack; they accomplish exceptional things with the same amount of time resource as you do.

What should you be doing with your time?

There are several essential activities that you need to accomplish if you want to be financially successful. You need to be efficient at budgeting, practice smart spending habits, be cautious with debt, save consistently, invest for future goals, put money aside for your retirement years, and make adequate provisions against life’s eventualities. Continue reading Money Mission: Make Time for Your Money →

Is Self-Employment Right for You?

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In today’s economy, the concept of self-employment is becoming increasingly popular. Some persons desire to become their own bosses in order to give birth to business ideas that they always dreamed about. Others are forced to create their own incomes, as the contracting job market does not provide many options.

Unfortunately, the road to successful self-employment is littered with many casualties along the way, with people who have seen their entrepreneurial dreams transform into financial nightmares. Whether self-employment is your choice or you have no alternatives, it’s important to first consider if you are ideally suited to the rigours of this lifestyle.

Let’s look at some of the key factors that can help you to decide if self-employment is right for you: Continue reading Is Self-Employment Right for You? →

Time is of the Essence!

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One of the realities of our current economic climate is that we are now forced to do more with fewer resources at our disposal. While our income loses value every month, our expenses grow almost exponentially. Layoffs and job work-hour cuts are reducing the size of the workforce, yet employees are being asked to produce more in less time.

As we continue to grapple with the financial challenges that this year will bring, it becomes even more crucial to manage the precious resource of our time. I often comfort my clients by explaining that they can always recreate lost wealth; but I can’t give the same guarantee about time because it’s not a renewable resource.

Many of us approach time as if it were an hourglass that will replenish itself with sand once we turn the instrument upside down. The reality is that once we use up all the seconds, minutes and hours in a day, we will never see them again. Continue reading Time is of the Essence! →