Time = Money

Something money can’t buy is time.

We all have the same 24 hours a day so spend it wisely because time equals money. Time is an investment.

I’ve been going through my to do list. I often take on more than I know I can achieve but this week I’m taking a new approach.

I’m assigning a dollar value to each thing on that list. I’ve also done the same thing for my long term goal list.

I’ve realized that while there are some things that I love and enjoy doing they’re not netting me much in the way of a return on my investment of time. I’m spending hours on a task that maybe will only net me $10 which doesn’t make sense.

I once interviewed a successful entrepreneur who told me he one day realized that while he was doing chores around his home like cutting the grass, he was losing money. For the hour it took him to do that chore, he could have easily made $250 per hour. His solution, hire a company to cut the grass which cost $25 per hour and he’d have a free hour to net himself $225.

This week, go through your own to do list and try adding your own dollar value and assessing what’s worth your while doing. Also check to see how much someone else would charge you to do that work.