How do you calculate the value of your time?
What is your time worth to you?
And how much time do you have today?
… Can you honestly answer these questions?
For some people to find the answer is easy, but for someone, it’s very tough.
And for that reason, I wrote this blog post as well as created a video.
Look, as soon as you realize your journey within the 7 Wealth Stages of life, you will reach the aha moment why the last stage is called “Experience an Abundant Life”.
It has a meaning, a process in which you want to operate and achieve that level.
But without hard work, taking massive action, and investing your time, it is not possible to experience abundant life.
Want to know the most critical part?
Because the harsh truth is, if you don’t realize it, you will always waste your time and you will never ever achieve what you want.
With this purpose in mind, let’s talk about the value of time and 7 abundant questions you must realize before is too late.
7. What Is Your Time Really Worth To You?
This first question could be scary.
You may be asking, why?
Because so many people can’t answer immediately.
Or can you?
Listen, I want you to look at your days.
- Do you just operate on the average level to survive?
I mean to trade your time just to have shelter, food and live paycheck to paycheck.
- Is this what you want?
- How do you feel about that?
Before you answer, understand this.
While you were reading the previous questions, those seconds are gone.
Forever. Done. Expired…
What does it mean?
Listen, you can’t push some magic button and rewind time as you would with a tape.
Time and trust are the most valuable commodities.
- Because it takes time to find your purpose;
- It takes time to save money as well as invest money;
- Also, it takes time to find your beloved partner;
- Because it takes time to feel what love is truly about and how to find happiness;
- In addition, it takes time to love and hate;
- And it takes time to heal your scars on your heart and faith when you make stupid mistakes.
After all, it takes time to find someone who would show you the path on how to overcome scarcity and move toward prosperity.
It means, it takes time to find a mentor, business, personal or life coach.
You see, in short, you get to value your time and you need to be very careful who you spend your time with.
So do you realize now what is your time really worth to you?
Can you answer this first question properly?
Leave us a comment below…
And once you find the answer for yourself, then you can move to another question…
6. Do You Respect Other People’s Time?
I have spoken about this topic before in one of my previous videos. And it is worth repeating.
“Treat other people’s time the way you want to treat yours.”
Because if you don’t, not only do you waste other people’s time, but you also destroy another most precious commodity which is trust.
it takes a tremendous amount of time to build trust, which correlates with respecting other people’s time.
You can’t just meet someone to steal their time and dishonor their trust.
How dare you be?
You get to eliminate all those useless meetings in your job, casual catch-ups with your friends or just going to meetups have a drink, and talk about totally useless topics.
Next point is, the way how you respect and leverage other people’s experiences in your spare time are critical.
Because it determines how successful you become…
I said it before, on my wall called “The Wealth Doer University” is the following quote:
Read it several times to understand what I mean by that…
And it leads me to the next question…
5. Is The Value Of Time You Create Productive or Unproductive?
I’ve read a couple of books and bought some online courses that teach effective time management.
But I can tell you, I don’t believe in something like mastering time management.
Instead, I strongly believe in self-management, self-care and self-discipline.
Let me ask you this.
What’s your calendar look like?
Is it empty?
Or full of useless meetings, tasks, or notes?
If someone wants to speak to you, do you reply…
“yeah we can meet anytime”?
What does it tell you?
The answer is, you don’t understand the value of time.
Here is a quick tip.
And if someone wants to book an appointment, propose a different time frame because your time is already occupied.
This way, you will control your time and not let anyone else control it.
Because if you have no control over your time, you become lazy, unproductive, and unfocused…
I’ve repeated a few times in my previous videos the Eisenhower box which will help you to stay focused and divide your time into:
- and unimportant tasks.
So go ahead, map it out, and be honest with your answer on how you create time.
4. How Do You Calculate The Value Of Your Time?
And most importantly, you need to study what the world wealth pyramid looks like and where you belong to.
Because when you learn it, you will understand the levels of society, its wealth range and the rules of wealth.
Do you get it?
So the first step to moving up is to do your math.
You may be asking now, how?
The math is simple.
Write down all the money you make in one year and divide it by your total time spent on earning that amount of money.
For example, you spend 2,200 hours per year on making money – your earned income. Notice, it is a very conservative number.
It means, when you make…
- $10,000/year, your time is worth $4.54 per hour.
- $50,000 per year, your time is worth $22.72 per hour.
- $100,000/year, your time is worth $45.45 per hour.
- $1,000,000/year, your time is worth $454.54 per hour.
This is the hourly value of your time.
Now, tell me, is it terrible or helpful to know your numbers?
So what’s next?
And how to fix it if you only trade your time for money?
I will give you the answer by the end of this blog post…
But before moving there, I want you to think about the following question…
3. Do You Know How Much Time You Have Left To Achieve Your Goals?
It’s a pretty straightforward question, isn’t it?
Hmm, I don’t think so, listen…
Would you agree?
And I can’t recommend you set a goal just to be happy, that’s an absurdity.
But I can give you three quick tips to stop thinking about how much time you have left.
If you do it, as a result, you will forget and overlook how much time you have left.
Because your direction and traction will speed up very quickly.
And when this will happen, you want to know the answer to the following question…
2. How Do You Track Your Time?
Until now, you’ve put together the puzzle by calculating your time spending physically at work and making money.
But the next math should be how much time you spend commuting to work, and so on.
So the first step to measure is your time transportation.
Next, you measure how much time you spend on your…
- freelance consultation,
- or building your personal brand.
If you have a family, it could also involve time spending with kids.
These numbers will tell you where you need to shift your attention most and where to eliminate your time.
A quick tip for you.
In one of the previous videos or blog posts called How To Build Self Discipline, I mentioned the RescueTime app that provides crystal clear evidence of how you waste your time. So go ahead and check it out.
Look, if you have been struggling to answer this and all previous questions I understand and you are not alone…
But you have no choice, and you get to track your time if you want to buy it back.
Because listen, it is possible to buy time and I’m going to show you how…
1. Can You Buy The Value Of Time?
The last question on this list is only for those who are not average.
This is for Doers who desire to climb up the wealth pyramid and go against what society teaches us.
What I mean is to replace your daily earned income with passive income.
Because this way you will buy your time back.
But how can you do it?
The only way of doing it is to be hard on yourself.
You get to find ways to increase your income first.
For example, add value either in your current company or build a side business and start selling something.
After all, this surplus money must be saved and invested in investment vehicles that provide monthly cash flow.
Because this is the only way, you can repurchase time and do things that you finally want to.
But this endeavor takes tremendous commitment, time, and sacrifice.
The question is…
Take your time to answer it because I want you sink into it…
Now It’s Your Turn To Deeply Understand The Value Of Time
To conclude this blog post,
As you grow, learn, build and get old, the value of time will change for the better or for the worse…
After all, it depends on your direction…
You as a Doer, you were born to prosper.
And you become part of Pat VC’s community of Doers, where obscurity doesn’t exist.
If you should remember just one thing from this blog post, get this.
Would you agree?
Now tell us, how do you value your time?
Can you answer all 7 questions we’ve talked about?
Leave us a comment below on what your thoughts are.
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Thanks for reading or watching and I will see you next week.