Can TIME make you MONEY?
We have heard the phrase "time is money." Honestly, I never quite understood it before. I was like, what are these people talking about? I have a lot of time when I am not making any money. Like when I am binging Netflix, watching a cricket match, playing squash, working out, scrolling on Instagram.
Forget all that; if I sleep 8 hours a day and live for 80 years, I slept for 26 years in my life where I made $0. "TIME IS MONEY"?? REALLY!!?
Now, I really admire Warren Buffett, who often talks about making money while you sleep. And he once said, "Time is money"... and I was like, there must be some truth here.
And in 2012, I attended a workshop "7 habits of highly effective people" and the curator talked about a TIME BUDGET.
How do we budget our money? 50% on needs, 30% on wants, 20% on savings/investing. The same concept needs to apply to TIME. And it's not optional.
Because you can make a lot of money, then lose it all, and then make 2X the money you lost in half the time. Time is different — once you lose it, you lose it permanently 😳
So I started budgeting time. Everyone has 24 hours a day:
NEEDS (~12 hours): 7 hours sleep, 1.5 hours getting ready, 1 hour travel, 1.5 hours cooking/eating, 1 hour emails
WANTS (~1 hour): 1 hour Netflix
SAVING/INVESTING FOR FUTURE (~11 hours): 1 hour squash, 0.5 hour meditation, 0.5 hour podcast/reading, 9 hours work
The more I stick to this schedule, the more money I make: MAGIC 😃
Most people who don't have time and still don't accomplish much are spending way too much time on "Time wants" — binging Netflix, mindless scrolls, frequent coffee breaks.
Here are 3 time hacks that changed my life:
TIME HACK #1: Leave your phone outside your bedroom. This saved me 2 hours of scrolling.
TIME HACK #2: Time blocks in the calendar for everything. I block time for meditation, getting ready, travel, reading, client calls, even lunch and date nights!
TIME HACK #3: Putting my phone on "Sleep mode" between 10 PM to Noon the next day. From 9:30 to Noon, I complete all the important tasks that require maximum brain power.
TIME IS MONEY! Now I know why ❤️
— Nav