Earn cash by making prudent use of your time

“Dost thou love life? Then do not squander time, for that is the stuff life is made of.” These words were said by US statesman Benjamin Franklin. The ubiquitous saying that is almost a cliché, ‘time is money’ is also attributed to him.

But to what extent can we reaffirm the truth of these statements?

Proper time management has today become an ingredient for wealth creation. The world we are living in is fast-paced and good use of the time available determines how successful one becomes in various aspects of life.

So how many hours do you spend in a day chatting with friends, watching television, in bars and clubs, or playing computer games? Although there may be nothing wrong with doing these things, this could be the time you could have used creating wealth or yarning ideas that can help you create wealth in future, such as finding new ways to reduce expenditure.

Most of the people who grumble incessantly that there is no money tend to spend their time idling – doing things that do not generate any wealth. They end up being poor and unsuccessful in life as they fail to acquire those things they value simply because they did not make time for them.

Henry Onguso, a financial expert working in a private Nairobi firm, says, “Just talk to most self-made millionaires and they will tell you that they did not acquire their wealth through idle sitting, chattering and making merry. To become wealthy, you must realise that the way you manage your time will determine how much wealth you will create.”

Various financial experts say that the road to making money, thus creating wealth, is an uneven one and that means it requires one to plan well.

Although they may not agree on the best way to create this wealth, they do agree on one thing: You must use your time well in order to create wealth.

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A lot has been written about time management. However, few take time to ponder how they can optimise time for maximum efficiency and wealth creation.

Time is one of the most invaluable resources that is available to us freely, but if we fail to plan for it, once lost it can never be recovered. After all, time is not static and fixed, time bends, expands and contracts.

Onguso says, “If you intend to make use of the time available to you to create wealth, you must live in the present moment as much as you can. Stop postponing what can be done now. Learn to do what can be done right at the moment you feel you ought to be doing it.”

He adds, “At any given time, you must ask yourself if what you are doing is what you should be doing and whether it will help you achieve your goals.

“In everything you do, establish whether or not it is adding value to your business and general life.”

Being busy does not necessarily mean that you are using your time optimally. Time can be said to have been spent well if it is productively spent.

“Every moment should have tangible results and take you to the next level, where you want to be,” says Onguso.

When time is managed well, you will increase your productivity, leading to growth and more profits. Ultimately, your life will be more satisfying and that is why you should make efforts to master the principles of good time management.

Rose Mwaura, a financial adviser, says setting long and short term goals is one of the ingredients of good time management that can help you create wealth.

“You can have daily, weekly or monthly targets that you want to achieve. It is these goals that should lead you to what you want to achieve in the end. Ensure that you do a review at the end of period you planned for,” she says.

She adds, “Those people who succeed in time management organise their time effectively. They plan well for the future, schedule their activities and prepare to-do lists. They also ensure that they do not postpone issues and this way, they end up with maximum output.

“Successful people who are able to create wealth have a routine. When you enforce a good routine and maintain it, you are likely to use your time well. However, you must stick to your routine. If you set aside two hours a day for a set of specific task, do not allow distractions to take you away from what you have planned,” Mwaura says.

“Interruptions must be avoided at all cost. They can easily take you away from what you had planned to do or fail to do it better. Ensure your work environment is away from distracters like noise or a poor work environment. Working in a conducive environment can greatly optimise your output,” she adds.

Onguso observes, “Activities scheduled to take place daily are important as they are easier to keep track of. You should start your day by accomplishing at least one important task whose results are visible. This is likely to give you contentment of having achieved something significant.”

In addition, he notes, “Many people forget to include time to relax in their working programme. Relaxation time is very important as this is a period you can use to create new ideas. During this time, you are able to reflect on what you have been doing and whether you are still on track.”

When you accomplish tasks within the set time, you will discover that time is one of the most valuable things you can ever have on your journey towards wealth creation.

Any time available to us must be well used as time lost can never be recovered.

Time: Easy ways of making wealth

• Stop wasting time chatting on social media or gossiping. Use this time to find ways of reducing your expenditure

• Stop postponing what can be done now.

• In everything you do, establish whether or not it is adding value to your business and general life

• Good time management increases your productivity, leading to growth and more profits.

• Set long and short term goals.

• Get a routine and stick to it.

• Set aside time for relaxation and reflection.

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