| Doris Dobkins is the publisher of $mart Money New$. You can subscribe by
visiting her web site at
CreativeFinances.com |
My 7 year old daughter has a
schoolbook called "Time and Money". The book is divided
into two parts (just as you might think). The first section covers
learning to tell time. The second section covers learning to count
money.
Fifty years later, most people are still
struggling to count their money and manage their time. Why is this
so? Didn't they learn to do so in the 2nd grade?
 Time is a limited resource. We have
24 hours in a day, 7 days in a week and 52 weeks each year. Who and
what determine how we spend our time? How can we maximize the time
we have?
Money as well is a limited resource.
We may have a weekly or monthly paycheck. We make so much money each
pay period, get taxed so much and take home so much. What do we do
with the money that we take home? How do we spend it and how can we
maximize it?
Tough questions or easy questions?
You tell me!
If you know your values and what is
important to you and let those values control your time and money,
you are the lucky few. For the rest of us, we allow circumstances
and situations to control our time and money.
What are some practical things you
should do in an effort to better manage your time and money?
Take a look at all you buy. See where
your money is going. Budgets aren't for the poor. The wealthiest of
all people have them. They want to know where their money is going.
It doesn't restrict their spending but rather makes them educated
spenders.
 Once you know where your money is
going, compare it to your list of values. What's important in your
life? Where do you want to spend your money? What areas of your
budget will you need to sacrifice to have enough for the other areas
that are the most important to you?
Now add in the time aspect.
Everything you buy costs you not only money but also time.
"Things" take time to assemble, repair, maintain and use.
So before you purchase something that you might not really need,
analyze it from the standpoint of time. Is the time this product
requires worth the trade off? If the answer is no, then don't buy
it.
Time and money are two of the most
important resources in your life. You can either have them work for
you or you can spend your life working for them. It's your choice!
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