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Work Smart: 6 Ways To Make More Money While Working Less

Work Smart: 6 Ways To Make More Money While Working Less

Most people adhere to the erroneous belief that you must work really hard and put in long hours in order to make a lot of money. However, the reality is that many of the most successful people in the world embrace the “work smarter, not harder” philosophy. Ultimately, the quality of your life is going to be determined by how you use all of your waking moments. Due to this, finding ways to maximize your off time without sacrificing your business goals is one of the major keys to true success.

The most important thing to remember about working smarter instead of harder is that this will provide you with valuable extra time for cultivating personal interests and relationships. In return, you will feel more rested and fulfilled, and this can make it easier to focus when you are working. As a result, your productivity will increase, which will enable you to get more done in a shorter period of time.

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Never forget that the number one issue that keeps people from achieving their goals is a lack of proper time management. This leads to the misconception that there is not enough time to get everything done. In order to put the “work smarter, not harder” philosophy to work in your life, it is wise to begin utilizing the six following tips.

1. Surround Yourself with Talented People

Every entrepreneur that is able to achieve great heights of financial success understands that they cannot possibly do everything alone. Not only will surrounding yourself with talented people help you reach your goals, but it will also give you the opportunity to delegate an increasingly larger list of important tasks. If you are currently juggling too many work tasks to take a break during the day, you need to reassess your staff and make any necessary changes. Always remember that your staff can make or break your business.

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2. Outsource as Many Tasks as Possible

Would you rather spend an entire day putting together your company’s payroll or spend that time relaxing with your family? By outsourcing tasks such as payroll to qualified businesses and individuals, you can save a lot of time and energy. As an added bonus, this can also save you the costly mistakes that often accompany working for an exorbitant amount of time on a weekly basis. As management consultant Tom Peters once said, “Do what you do best and outsource the rest.”

3. Capture Every Worthwhile Opportunity

You will be presented with many business opportunities, but that does not mean you need to take all of them on. Instead, sort through your options to choose those that will increase your profits without forcing you to do a lot more work. For example, companies such as Redirect help businesses monetize their website by redirecting traffic in an appropriate manner. This does not require any regular work or input from the business owner, but it will generate additional income. In other words, this is the perfect example of a worthy opportunity.

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4. Block Social Media Websites

Every company needs to have a strong online presence, and social media is a vital piece of this puzzle. Unfortunately, social media can also be a huge drain on employee productivity. With this in mind, anyone who wants to increase their earning power and spend less time in the office should purposefully block any sites that will take their attention away from tasks that are truly important. You can use browser plug-ins such as StayFocusd to ensure that you only visit Facebook during the day when you are actually using the site for work-related purposes.

5. Take Breaks in Nature

This might not seem like a technique that has anything to do with maximizing your work time, but there is scientific evidence that spending time in nature will make you a more efficient worker. Even a 15-minute walk through the woods will provide you with restorative benefits and make you more capable of producing high quality work in a shorter period of time.

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6. Structure Your Meetings

Have you ever worked somewhere that had meetings about meetings? This seemingly farcical example is actually a way of life at some businesses, but you cannot afford to give away your valuable time in this manner. One of the biggest ways to waste money in the business world is by allowing meetings to stretch on for an excessive amount of time. That being said, you’ll need to kill meetings to get more done. Therefore, choose to structure your meetings instead so you can ensure that everything will be kept within a short period of time. Another perk of this approach is that your employees will learn how to be more concise while communicating about all aspects of their job.

By simply making more effective use of your time and cutting out anything unnecessary, you can improve your income to work time ratio. Adding in money making opportunities that do not require a large time commitment will also make it easier to meet your goals. Additionally, you can improve the quality of your personal and work lives by taking regular nature walks.

Featured photo credit: Flickr User Tax Credits via flic.kr

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Holly Chavez

Writer, Entrepreneur, Small Business Owner

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Last Updated on March 4, 2019

How to Use Credit Cards While Staying Out of Debt

How to Use Credit Cards While Staying Out of Debt

Many people will suggest that the best thing to do with your credit cards during these tough economic times is to cut them up with a pair of scissors. Indeed, if you are already in huge debt, you probably should stop using them and begin a payback strategy immediately. However, if you are not currently in trouble with your credit cards, there are wise ways to use them.

I happen to really love my credit cards so I will share with you my approach to how I use mine without getting into deep financial trouble.

Ever since about 1983 when I got my first Visa card, I continue to charge as many of my purchases as possible on credit. Everything from gas, groceries and monthly payments for services like my cable and home security monitoring are charged on credit. Despite my heavy usage, I have maintained the joy of never paying any interest fees at all on any of my credit cards.

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Here are some tips on how best to use your credit cards without falling into the trap of paying those nasty double-digit interest fees.

Do Not Treat Credit Cards as Your Funding Sources

Too many people treat their credit cards as funding sources for major purchases. Do not do this if you want to stay out of trouble. I use my credit cards as convenient financial instruments so I do not have to carry around much cash. In fact, I hate carrying cash, especially coins. When you buy things on credit, the purchases are clean and you will not get annoying coins back as change.

I do not rely on my Visa, MasterCard or American Express to fund any of my purchases, large or small. This brings me to my golden rule when it comes to whether I will pull out any of my credit cards either at a retail or online store.

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I never purchase anything with my credit cards if I do not have the actual cash on hand in my bank account.

If I really cannot pay for the item or service with cash that I already have at the bank, then I simply will not make the purchase. Remember, my credit cards are not used as funding sources. They are just convenient alternatives to actual cash in my pocket.

Make Sure to Always Pay Off Balances in Full Each Month

The next very important part of my overall strategy is to make absolutely sure that I pay the balances in full each and every month no matter how large they are. This should never be a problem if the cash has been budgeted for my purchases and secured in the bank. I have always paid my full balances each month ever since my very first credit card and this is why I never pay interest charges.

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Using Credit Cards with Rewards

Most of my credit cards are of the “no annual fees” type, including one MasterCard on a separate account I keep at home as a spare in case I lose my wallet or incur any fraudulent charges. However, I do use a main Visa card which does have an annual fee because all purchases on that card reward me with airline frequent flyer points. For me, the annual fee is worth it since I do travel and I get enough points to redeem many free flights.

You have to decide for yourself if you will charge enough purchases on credit each year without paying interest charges to warrant a credit card that rewards you with airline points (or other rewards). In my case, the answer is “yes” but that might not be the case for you.

I occasionally use a MasterCard or American Express card on small purchases just to keep those accounts active. Also, I have been to the odd retailer that accepted only a certain type of credit card, so I find that having one from each major company is quite handy. Aside from my main Visa card which earns the airline points, the rest of my cards are of the “no annual fees” variety.

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So this is how I use my credit cards without getting into any financial trouble with them. This strategy is recommended only if you are not in debt, of course. In fact, it is worth keeping in mind once you’re out of debt so that you can keep your credit cards active and treat them responsibly.

What are your credit card usage strategies? Let me know in the comments — I’d love to hear what methods you use.

Featured photo credit: Artem Bali via unsplash.com

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