The aphorism “Time is money” may appear quite simple. However, the phrase carries significant truth about the complex interplay between time management and financial success. The primary contrast between successful people and deprived people is time management skills. Time management is the planning of time spent on activities with the goal of increasing efficiency.
The benefits of managing time effectively include increased productivity, reduced stress, and enhanced ability to achieve financial goals. Here are 11 proven tips to help you improve time management.
Set clear goals
Effective time management starts with setting clear and time-specific goals. If you don’t have goals, you risk falling behind schedule. Apply the SMART framework to formulate actionable goals with adequate details to help you accomplish your desired results. Determine the goals you want to achieve in the short- and long-term. Be clear on where you want to be in one month, six months, one year, 5 years, and 10 years.
Always plan activities ahead
One of the proven tips for managing time effectively is to plan your activities ahead. Each weekend, come up with the “to-do” list for the upcoming week. Split your activities based on their importance and urgency. Prioritize urgent and important activities. Urgent activities are those that are critical to your financial and career success. Cancel, delay, or delegate the less important activities
Schedule morning hours for tough tasks
Proper timing of what you need to do is everything. You should assign morning hours to tough activities as you’re still fresh. This can bolster your confidence and efficiency in completing the remaining daily activities.
Set clear and sensible deadlines
Setting sensible deadlines for your tasks, projects, or goals helps to avoid frustration. Once you set a deadline, write it down and stick to it. Writing down your deadlines helps to remind you of the significance of the task.
Start by setting the deadline for the whole assignment. Then set small deadlines to work on specific tasks. This helps you to avoid procrastination and allows you to stay focused. Examine your ability to meet deadlines and make appropriate adjustments.
Avoid focusing on perfection
Trying to be perfect in everything leads to time wastage. Perfectionistic people often procrastinate, fail to delegate, and spend excessive amounts of time planning due to fear that they cannot do tasks perfectly. Frustration and stress arising from being a perfectionist may cause you to abandon projects. Don’t stick to making everything perfect. Instead, start the journey and learn as you progress.
Don’t procrastinate
Procrastination is the unhealthy habit of postponing important tasks and choosing to focus on easier activities. You undermine your ability to achieve career and financial goals when you voluntarily delay projects. Procrastination contributes to poor time management, missed deadlines, and low productivity. You can avoid procrastination by organizing your tasks, setting deadlines, and eliminating distractions.
Limit internet and social media use
A lot of people struggle with poor time management due to the occasional time they spend on social media. The frequent scrolling through your social media for a few minutes every hour may appear not too much. However, the occasional social media use is problematic as the lost time adds up to over two hours every day.
Putting off notifications from social media applications is an effective way to limit use and save time. Another tip is to increase the time interval between uses to 1 hour or 2 hours. Dedicate the saved time to increasing your productivity and wealth.
Avoid binge television watching
For people working from home, binge television watching is an addictive time-wasting behavior that can ruin your productivity and financial success. This has become problematic with the emergence of online TV streaming services.
While TV watching is good for relaxation, compulsive and binge-watching may limit your willpower to carry on with work and complete tasks on time. Your workspace should be away from the TV. Set daily screen time limits.
Use a timer
The use of a timer helps you to complete tasks within the shortest time possible. Get a timer that beeps to eliminate the time wasted glancing at the wall clock. Using a timer helps to optimize the time spent on a task.
Get mentorship to guide you
Having a mentor is extremely important in time management. The guidance you obtain from someone with experience in your field of investment helps you to accomplish tasks within time. It’s easier to keep deadlines when you have a good mentor. Get and maintain a good mentor to offer support as you progress with your projects and goals.
Audit your time
Spend some time assessing your time usage in previous weeks. This an ideal opportunity to determine how well you spent time. Calculate the total time wasted. Identify where you were late and what was never done. At the end of the audit, change your schedule and deadlines for upcoming tasks.
