Time Management Skills = Finance Skills

by Team Dinks on August 30, 2010 · 5 comments

cool notepadOne thing I have noticed about successful people, or just people who have their finances in order, is that they usually have great time management skills. They know how to prioritize and get things done that need to get done. They also do whatever they can to avoid “wasted” time.

I’m a planner. I like to know what I want to accomplish and then get it done so that I can maximize my time. I hate not knowing what I want to get done or wasting time doing something I do not truly enjoy. That is one reason I am nearly obsessive about time management.

There will always be things that we should do that we don’t. We sometimes make excuses such as “there is no time!” or “I’m way too busy!” In reality the issue usually comes down to how we manage our time and prioritize what we do. There are many individuals and couples who do not have their financial house in order and often it is due to a lack of planning. It’s not the easiest or most fun task and it usually gets put on the backburner whenever possible. If we make time for things that should be a priority – like proper financial management – we would all benefit.

I thought I would offer up three tips that have helped me and continue to help me (I’m a work in progress!) manage my time, and in turn my finances, more effectively.

3 Ways to Improve your Time Management Skills

1) Write things down – If you are able to write things down as they come to you instead of trying to remember them later on, you will both save time and energy. The useful stuff you will have for quick reference and the junk you can just cross out.

2) Figure out your goals and, in turn, your priorities – With time management the key is to figure out what you really care about. If you care about having more time to spend with those you love, living a more frugal life could be something you prioritize. If you care more about having higher quality things, or just a bigger safety net you may want to look for some side work or figure out how to maximize your current income. Priorities should be tied to your goals.

3) Make lists – I’m a little biased: I make lists every single day. It helps me see what I want to accomplish as well as weed out the important tasks that need to be done soon as well as the tasks that I can shelve. Even if it is a task I may not end up doing for a week, it is still on my radar because it has a presence on my to-do list. If you don’t already make lists I would recommend that you at least give it a try – who knows, it might be an activity that really benefits you.

I hope this post was helpful. If you have additional tips to offer I would love to hear them!

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{ 5 comments… read them below or add one }

1 C.C. Collins August 30, 2010 at 12:25 pm

In regards to managing time and prioritizing activities I rely heavily on a personal information manger called TreePad™ . The free edition works great.

For nearly ten years I have used it doing research for financial articles I have authored and an ebook. It also holds familiy and friends list, websites, resources I want to save and on and on.

One tip though, I have found it very useful when I create a “node” to type in as many associative words as come to mind so later on when I find that I have forgotten what I knew I would remember I can use the search function and some of those words I typed in to easily find my desied information.

Perhaps it can be as helpful to others also.

2 Kristina August 30, 2010 at 8:21 pm

I am all about the making a list and checking it twice!!! I am so old school that I still make a grocery list and take it to the grocery store with me. As I put something in my cart, I cross it off my list. Nick makes his list on his IPhone but I prefer the trusted pen and paper.

3 Khaleef @ KNS Financial August 31, 2010 at 1:22 pm

Great list! I need to get back to using the task manager in Outlook and on my phone. I always complain about time, but I’m sure much of it is wasted!

4 J$ August 31, 2010 at 8:33 pm

I make lists and write them down on my hand. That way I never forget and it’s a new tattoo every day! :)

5 David Carlson September 1, 2010 at 1:32 pm

Haha J that is hilarious! But yeah I am definitely a pen-and-paper list guy but I’m still open to things like TreePad. Technology that is supposed to make my life more organized tends to be just another thing I have to do on my to do list, unfortunately. I still have “organize itunes” on my to-do list…who knows when that will happen.

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