How to leverage time to grow your wealth
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We all have the same 24 hours in a day and we need to maximize them if we want to grow our wealth. In addition to those 24 hours, we also have a variety of obligations that impact how much time we have. Here are 5 things you can do to maximize your time and grow your wealth.
- Outsource personal tasks
One of the things that you can do increase the amount of time you have is to outsource your personal tasks. By personal I am referring to things like cooking and cleaning if you are able to. Doing this should only be done if one of two or both qualifications are met: you are using that time that is being saved for meaningful personal things or they make you a significant amount money. You may be asking yourself why we would have these qualifications or even say that spending money like this is a good way to free up your time. Spending money to remove time consuming tasks like cooking and cleaning allow you to spend more time with your family fostering strong personal and interpersonal relationships that add meaningful memories or building them with a significant other. We are also considering how much extra wealth is being generated with this time, because these services are not free. So any extra income that is being generated should be enough to cover this. Personally, I do not have the ability outsource tasks right now, but seeing how it has been able to impact people who I am close to who do have these services, has shown me the high level of positive output that results if you utilize outsourcing correctly.
2. Use auto pay functions
One of the biggest things people tend to spend their time on is dealing with bills, savings, and finance. A very useful way for you to save time on your finances. Auto pay just takes the payment directly from your bank or credit card on the designated due date or on a date determined by you. This saves you time from having to go and manually do it yourself. A quick caveat to this and this is something I learned the hard way. You have to have a good system and budget in place, otherwise you will be out of funds. I implemented this without doing my due diligence and ran out of funds. So if you use auto pay make sure your budget and financial system is in place to keep it going, because once you get it right it will save you an exponential amount of…
