#019: Time vs Money: The Ultimate Paradox

The Property Nomads Podcast

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5+ y ago 18:05

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INTRODUCTION

40 hours a week. 52 weeks a year. That's a total of 2080 hours over the course of a year spent at work (FTE). Divide the amount you make on an annual basis by the amount of hours worked. Ask yourself: Do you really need to work those hours to earn that money?

So, in this episode of The Property Nomads Podcast, Rob and Matt are going to help you figure out how much your time is really worth, so you know how best to utilise it. If you’re looking to earn more money over a shorter time, then you’re in for a treat! Have a go at our exercises so that you can gauge how you manage and value your own time. You will be surprised at how much time you actually have to use for more valuable things.

KEY TAKEAWAYS

It’s better to use your time and energy on income-generating tasks. Tasks like doing chores, managing logistics, etc. should be the least of your priorities and, if you have the means, outsourced.
Working longer hours doesn’t necessarily mean you earn more – you can make it big even without using up much personal time.
Know how to manage your time. Make sure that you if you're going to work, work consistently, so you have the extra hours to unwind and regain your energy.
Having too much money in your bank account can make you complacent. You think you’ve got enough money, so you don't get motivated to work smartly.
Use your time to learn how to utilise your money. Attend networking events, read books, or meet with your mentor.
EXERCISE: Work out how much time you actually have compared to how much you think you have. For every hour of each day, list down what you did for that particular hour over the course of two-weeks. This allows you to observe where the bulk of your time goes.

BEST MOMENTS

"If you don't know what you are worth, you might end up indulging on the wrong activities or trying to leverage on the activities."
"Know what your time is worth and how valuable that is."
"You need to become selfish before you become selfless."

VALUABLE RESOURCES

Richard Branson

ABOUT THE HOSTS

Rob Smallbone and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?

Rob & Matt are just two guys who want to make a huge difference to people around the world. Rob & Matt are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon. Buckle up, sit tight and enjoy the ride that is life.

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