Your Time is Money How much money are you wasting?

Articles on Money | Topic: money

by Brier Valentine

Your Time is Money How much money are you wasting?

When you are starting your own business, becoming a partner in a small business, or even doing daily tasks at home, you are investing in something. Through this investment comes the use of time. All of the time that you use to do something counts off as money invested into a certain project. If you are unorganized, or if your time management goals are not set properly, it is most likely that you are wasting your time and money.

There are several ways to tell if you are not putting the energy in the right place for the investments that you are making. Through this, you will be able to see where your money is being lost. One way in which time can easily be wasted is through reading e-mail or making personal calls that take a long amount of time. By not being organized with correspondence that you are making, you can waste hours of time every day and not be able to be efficient with other work that you are doing.

Another way that time can be wasted is not being organized with the things that you need throughout the day. Many times, you can spend a large amount of time looking for the one thing that is in the wrong place, or something that you misplaced. By staying organized in your space, you will save a lot of time and money with whatever type of activity that you are planning out for the day.

Quote of the Day

Like many another romance, the romance of the family turns sour when the money runs out. If we really cared about families, we would not let “born again” patriarchs send up moral abstractions as a smokescreen for the scandal of American family economics.

—Letty Cottin Pogrebin (20th century)

Time can also be wasted when moving from one activity to another. This often happens when focus is not balanced out with the daily tasks. If you are unorganized with the thoughts or lists of what you want to do for the day, it is easy to loose concentration and focus on the different things that you may need to accomplish. The best thing to do is to figure out what works best for you in staying organized, creating lists, etc. in order to stay on task throughout the day.

Behavior traits that you may have may also cause you to get off the tasks that you have at hand. There are several different types of behaviors, or combinations of attitudes that may cause you to end up wasting your time. One of these behaviors is that you are constantly getting involved in battles and crises that you don't need to interfere with. E-mail and personal phone calls are often some of the things that will prevent you from doing your daily work and becoming involved in any office drama. Along with this type of behavior is one that doesn't put aside personal calls, and instead wastes time talking to friends and family instead of getting involved with the work that needs to be done. Another behavior that may prevent you from reaching your daily goals is committing to too many things at once. One of the successes to time management is recognizing how much you can do in a given day and allowing yourself the room to not do others. Another behavior problem that can get in the way of you reaching your goals is avoiding doing work that needs to be done. It may be easy to get off task by getting distracted, or by simply putting off the goals that need to be accomplished. One last type of behavior is one that is more perfectionists in nature and won't allow you to even get started for fear of it not being done perfectly. This often time causes a delay in other projects getting started also.

One way to know if you are wasting time is to evaluate what types of things you are doing during your day that take you off focus from the tasks that you need to accomplish. This, as well as recognizing behavior deficiencies that you may have will help you to re-evaluate what you need to do in order to save time and money. By recording how many times you get off track of your goals, and by knowing what it is that gets you off track of your certain focuses, you will be able to eliminate some of the problems that you are having. Getting organized will help you to become more effective with your time and money.

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Please note: All personal opinions expressed in the "Your Time is Money How much money are you wasting?" article belong to the contributing author and are not necessarily shared by BusinessInvestingFinance.com.

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