So you always hear people say that time is more valuable than money, yet as a society, we budget our money, we save our money, we invest our money, we put our money into savings accounts. We get financial advisors, so there's a whole series of businesses, industries, careers all built around money, yet not time, but time's more valuable than money, right?
Thinking about this, I thought about, well, what if we could budget time? So that's what I'm going to be talking about this week is how to budget your time. Make sure you stick around to the end for a special bonus.
I'm Roman Ryder and on this channel, I talk about strategies for leadership and personal development. If you're new to my channel, make sure you subscribe. I put out new videos every Friday, and you don't want to miss out.
Tip number one is to track your time. We all have the same 24 hours in the day, and you have to figure out where your 24 hours is going, so the first tip is track your time. Just start writing down everything you do for about a week, that way you kind of get your work week built in, get your weekend built in. If you got some special stuff going on, you may want to go a little longer than a week, and then kind of start to figure out where your time is going.
Tip number two is to categorize your time. Now that you have a week of time to work with, we need to figure out where to put that time into different buckets. What I'm going to recommend is something based on the 50-20-30 method of budgeting your money, and it actually is 50% is fixed, and 20% is investment, and 30% is your personal money. Well, we're going to do it a little different, because if you do the math, your fixed, you have a job possibly, so eight hours a day. You have sleeping, hopefully seven to eight hours a day, so right there, you're already at about 60% of your time is invested just in fixed cost, your work, and your sleep.
We're going to try something a little different. We're going to do 60% for fixed, 15% for investing, or your future, your goals, that type of thing, and 25% for your personal time. So let's break down that 60-15-25. What does that look like in hours? Well, the 60% is your fixed, and that's about 100 hours a week, so that's pretty good. That's going to work, and sleeping, about 100 hours a week, so that leaves 68 hours that week.
The 25% that's your personal time is actually going to work out to about 40 hours a week, so that's pretty good. You can put quite a few things into 40 hours a week, things you need to take care of for yourself, whether it be watching Game of Thrones or reading a book, or whatever it is. You got 40 hours a week to do that.
The 15% you're investing, that's about 25 hours a week. I'm having to look down at my notes, so you got about 25 hours a week to invest in your future, in your goals, so that's actually quite a bit. One thing is, you can play with it. So what is investing for you? It could be reading, it could be going to the gym, it could be actually doing things that are making money, things that are actually putting time into your business making money, whatever that business is.
You get to play with these buckets. You get to decide what goes where. For one person reading, may be investing in themselves. For another, that may be personal. Depends on what you're reading, right? Depends on what your goals are. For me, say if I go on Twitter, and I'm doing things, I'm being social on Twitter. Well, I could consider that an investment in my business, 'cause I'm building my following hopefully on Twitter, or I could consider that personal, 'cause I just enjoy getting on there and socializing with people. That's the awesome thing about this. You get to decide what goes into those buckets.
Tip number three is to eliminate the time wasters. Now it's time to really take a hard look at all those things you put in those buckets and figure out. What's not moving you closer to your goals? It may be something in your personal bucket that's really not adding value to your life, maybe your time might be spent better hanging out with your family or going to visit friends, or whatever it is. You got to really figure out what it is that maybe isn't working for you. Maybe it's how you're investing your time.
Are the things you're doing really giving you a return on investment, or is this kind of a time waster? If I'm getting on Instagram and I'm posting all day, cool, but if I'm not getting followers and people aren't following through and going and checking out my videos, it's a time waster, right? I've got to figure out what's working for me and what's actually adding value and moving me closer to my goals.
Also, I want to work within my strengths. What are your strengths? What is your goal, your long-term goal? Think about that. You want to do things that are helping you move you forward. You want to do things that you enjoy and that you're good at, and if it doesn't fall into that category, then you need to figure out how you can get rid of it, whether that be a virtual assistant to do that, hiring somebody to go mowing your lawn 'cause that's not getting you any closer to what you want to do, or maybe you enjoy mowing your lawn, so that falls into your personal bucket because that's something you want to do.
You really need to take a hard look at this and just kind of eliminate those things that are kind of dabbling. They aren't really adding value, okay? Obviously, don't go too crazy. You still want to have some fun, but look for the time wasters. They're there, and like I said at the beginning, we all have the same 24 hours of the day, so you need to figure out the best way to use your 24 hours to get the best value out of your life.
Tip number four is to implement time savers. Now hopefully you've gotten rid of some of those things that are wasting your time. Now you need to figure out how to do the things that are left as efficiently as possible. I'm going to give you something called the four D's, and I actually learned this for email, and the four D's are to delete it, to delegate it, to do it, or defer it. We already kind of went through and deleted some things, right? We talked a little bit about to delegating it. If it's not something that you're really good at, if it's not something that's adding value, you can delegate it to somebody else to do.
To do it, if it takes you five minutes or less, go ahead and knock it out. Don't leave that hanging over your head, and to defer it, so if it's going to take you awhile and you need to plan something, you need to get some more information, whatever, then just defer it for later. You can use that for obviously anything in your life, not just your email, but speaking of your email, that's another place you can eliminate some wasted time.
Something I've done recently, after reading, I'm still actually reading it, The 4-Hour Workweek by Tim Ferriss, and I'll link to that book on Amazon below. I started using his method of doing my email just twice a day, so at 10:00 and 4:00 I check my email, and then other than that, I've turned off all the alerts. I don't get alerts on my phone. I don't get alerts on my computer. I can do my work without getting interference, and just twice a day I go in and batch my email. I do it all at once.
Same thing with the videos. Today I'm shooting videos. I've got to set up lights, I've got to set up my camera, got to put the mic on, put on a decent shirt, so I'm doing a batch of videos. I'm shooting several videos at once to get the most out of my time, to be efficient.
So now it's time for today's bonus, and that is to have some fun, all right? When I first started my business, I was just going, going, going, and I finally just kind of burned myself out. You don't want to do that to yourself. You want to still give yourself some time to sleep, some time to have fun, some time to hang out with your family, whatever it is you need to do to recover and bring your best self to what you're doing every day. Make sure you do that and don't burn yourself out.
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