Time is money and money can buy you time…
…time on the beach, time with family and cherished friends, time to start businesses that can employ others and create security for them and you, time to retire the way you want to rather than working until you die as a greeter at a big box retailer.
Time and money go hand in hand. That’s why here at Money Mastery we teach principles about how to manage both time and money and why the name of our company that owns the Money Mastery concept, system, and all of its copyright materials is “Time & Money, LLC.”
One of the principles we teach is Money Mastery Principle 10, which
states: “Money in motion creates more money.” An example of this is when someone deposits money into a bank, then the bank loans it out to someone else. The proceeds from that loan are then deposited into another bank where it used to loan out to someone else for another purpose. The initial bank deposit multiplies several times as it is used over and over again within the banking system, creating a multiplier effect and putting that money in motion to make even more. In my experience, this principle about money also applies to time management. If you hire a secretary to help with your work, you can get a lot more done than if you try to do all the work yourself. If you hire this secretary for $20 an hour, but their work creates $40 in revenue you have multiplied your time, and subsequently your money as well.
Another Money Mastery principle about money that also relates to time is Principle 2: “When you track your money, you control it.” By tracking you have good information as to how much money you have left, and a record of how much something will cost so you can plan for it in the future. Tracking also applies to time management. When you track your time you will know how much it takes to complete a project, earn revenue for a specific investment, or how much your own personal skills are worth. This point of reference can help you when you plan your next project, determine how much time you will need to make certain investments pay off, or how much you should charge someone for your services.
Now let’s focus on Money Mastery Principle 7, “Always look at the big picture.” When you are planning for retirement, it is important to predict when you will have enough money to retire. Applying this principle to time management can help you know how your time spent today will be able to harvest surplus savings to be used during retirement.
I urge you to learn the powerful Money Mastery Principles. Not only will they help you make sense of every aspect of your personal finances, but they will also help you manage your time, and as I have already pointed out time is money and money is time — they go hand in hand. Contact me for more information today: firstname.lastname@example.org, 801-292-1099.