Smart people know that time is money. Wise people understand that time is more valuable than money and with the fast-paced world we're in, time is more valuable than ever. But if we look hard at how we spend our time, we might find that we're giving our time away more easily than we give away our money. It's easy to find ourselves caught up in the pursuit of money, sacrificing precious moments with loved ones, and neglecting our health (both critical according to those who have lived a full life). Money can buy you material things and experiences, but time is something you can never get back. Research also shows that people who prioritize time over money tend to be happier and experience more positive emotions.
So, how can you practically value your time over money?
Track your time
The first step to valuing your time is to track it. Use a time-tracking app or a simple spreadsheet to record how you spend your time. This will help you identify where your time is going and make more conscious decisions about how to spend your time. A few time wasters to flag when doing this exercise are any time you're spending to:
- Worry about what-ifs and what-if-nots
- Live and replay the past for whatever reason
- Fantasize about the future
- Take too long to decide on things that are reversible and matter very little (like what you're going to eat for lunch or whether or not you should buy those shoes on Amazon)
Set priorities and create a time budget
Once you have an idea of how you're spending your time, set priorities. What's most important to you? What do you value? Is it spending time with loved ones, pursuing a hobby, or advancing your career? Decide what matters most and make sure you're spending your time accordingly. One way to do that is to budget your time for the week to come and determine how much time you'll allocate to your key activities. This will help you make more intentional choices about how you spend your time. Take a moment and think about what you want your life to look like during your final years - who do you want around you? what would you like to accomplish? what physical condition would you like to be in? How you invest your time now will bring you either closer or further away from that vision.
Learn to say NO
Now that you have clarity about your vision of your life, you'll need to protect it by setting boundaries and saying no to things that don't align with your goals, value, and vision. Saying no can be difficult, but it's important if you want to value your time. If someone asks you to do something that doesn't align with your priorities, politely decline. This will free up your time for the things that matter most to you. A reframe that worked for me is to remember that saying yes to someone else is often saying no to myself.
Outsource and delegate
Often, when we track our time, we feel that everything we're doing right now is necessary to do. This may be true, but what isn't true is that you'll need to do everything yourself. Whenever possible, look for ways to outsource and delegate as many of your tasks as possible so you can free up your time (your most precious resource). Often, this will give others the opportunity to learn and grow and relieve you of tasks you may not want to do or do not fall into your area of expertise. You'll also be poised to take advantage of unexpected opportunities that may arise.
Avoid multitasking or being perfect
There is enough research now that shows multitasking is not only a less effective use of time but often a source of stress. You're better off focusing on one task at a time and giving it your full attention (assuming the task is an important one - I'm all for listening to a podcast while folding laundry). Another way to gain back time is to let go of perfectionism and the need to control every situation. Sometimes good enough is good enough. Don't spend excessive time on tasks that don't require it. This practice will help you feel more comfortable delegating to others.
Schedule downtime and take breaks
As part of your time budget, schedule downtime to recharge your batteries. Whether it's watching your favorite TV show or taking a walk outside, make sure you're taking breaks throughout the day to give your brain a rest. This is assuming that you're getting ample sleep. If you're not getting enough sleep, prioritize that in your time budget.
Practice mindfulness and be present
Mindfulness can help you stay focused on the present moment and become aware that each moment carries a choice around how you want to spend your time. By practicing mindfulness meditation, you can catch yourself slipping into poor uses of time and adjust. I found Dan Harris's book 10% Happier and Jon Kabat-Zinn's Mindfulness for Beginners a good place to start if you want to learn. Being present will allow you to fully enjoy the experience and value the time you're spending.
Invest your time like you invest any other important resource. Be intentional, deliberate, and rigorous. Your time is what makes up your life (4000 weeks), so spend it wisely. Click here for a visual representation of how much time you have left to invest (a la Tim Urban's post: The Tail End).
Photo by Aron VisualsÂ
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