Every week I go down to my office and review my budget and assets. I have been budgeting my money every since I moved out of my parents house when I was nineteen.
At first I wasn’t very good at it but over the years I have become extremely detailed and precise in this practice.
I value my assets and see them as being very important to the well being of my family and myself.
After learning of the passing of an acquaintance that was younger than me I started thinking how I never seem to have enough time to do what I want to accomplish.
If I has substituted the word money for the word time in the above paragraph what is the first thing I would do?
I’d sit down and budget my money in order to be able to accomplish my goals. I’d figure out how much is coming in how much do these goals cost and what can I afford to spend to meet those goals.
Yes I do the same thing with my time to some extent but it’s more like I need $20 on Saturday , cool it’s Wednesday and I have $40 in my pocket I’m good. I even write down $20 for Saturday on the calendar.
In the meantime Thursday comes along and takes $25 and Friday takes $10. Here’s Saturday and now I’m way short. Well maybe on Sunday I’ll get some more so let’s push it back a week.
Unlike budgeting my time, I budget my money in a very regimented manner. It’s scheduled to be spent on a certain day or else I’m getting a notice from the party that’s expecting the payment. If I don’t spend it wisely I would get all kinds of notifications.
No one sends me a notice when I’m not spending my time wisely.
I can budget my money and barring some catastrophic event I have a good idea of when it’s going to run out. And I have insurance to help me get over the catastrophic event because I budgeted my money to make sure the insurance company gets paid.
But time, who knows when it will run out?
Yet we waste it like we have it available in endless quantities, like we will live forever.
So imagine this.
What if someone told you each day you get $1 for every minute of the day. That’s $1440 given to you at 12:00 AM and by 11:59 PM that day you have to have spent it all, every cent. I you have any leftover it simply disappears.
Now the first catch is that the $1440 comes out of a bank account that belongs to only you. No one else can steal it, you can’t loan it to anyone and you can’t deposit a single cent to it. It’s yours to use as you wish but each day $1440 is withdrawn until your account is at zero.
The second catch is this, you never know what your balance is, ever. The only time you know what it is, is when it hits zero.
Maybe your balance right now is $31,536,000, that’s 60 years worth of living. Maybe it’s $3,153,600, that’s 6 years, maybe it’s $8640 that’s 6 days or maybe it’s $.01 and you won’t even finish reading this sentence.
You just don’t know how much you have but every day, hour, minute you have to spend it.
How would you treat your money?
Think of how differently you would treat every dollar you spent knowing you have to spend it and you only get so much for each day and it’s the same every day but you don’t know how much you have or how many days it will keep coming.
I need to treat my time better than I treat my money because it’s more precious than anything on this earth and yet we all use it to light cigars, like we are the Rockefellers of the time industry.
I’ve got to come up with a way to budget my time.
Not time management, you can manage time right down the drain just like money.
But budget, budget to where I’m squeezing every last minute of time each day out of what I have left.
© Otis P Smith and About the Groove, 2015. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Otis P Smith and About the Groove with appropriate and specific direction to the original content.