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Spending Money vs. Time

Spending Money vs. Time

There are lots of services out there that will do things on your behalf. You can drop your clothes off at the laundromat to get them washed and folded for you. You can purchase your groceries online and have them delivered to the house. You can pay people to mow your lawn and rake the yard.

People’s first reaction when I tell them I get my groceries sent to my house is that I’m spending money for no reason. I’m acting rich. Something like that. But let’s do the breakdown:

Money, Time

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The service to get groceries delivered to my house costs $6 US. The average time I spend buying groceries is approximately an hour, start to finish. Is my time worth more than $6 an hour? Oh yes.

Laundry service costs 45 cents a pound. The average drop-off is costing me $45 dollars. But throwing loads in downstairs in the building costs me $3.00 for each load, totalling under $20. Doing laundry is annoying, but I can do other things at the same time. Is my time worth that extra $20? Not really (unless I get way behind).

Making Things to Sell

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People will often tell me about a craft they’re making to sell, or some “easy” eBay scheme, and I can’t help myself. I always do the math. “How much do your materials cost? How long does it take to make? How much are you asking for these?” Plink. Plink. You’re making 41 cents an hour. If you have NO income, and you have lots of time, bully for you. But if you’re doing this because you think you’re going to make more money from it, reconsider.

Consider Your Hourly Value

First, decide whether time or money are more important to you, and also which you have more to spare. (Oddly, this is how business runs at the smaller level, right?) If time is more important to you in most cases (and I imagine you’ll agree that it is), consider the trade-offs between spending a little extra money but gaining extra time, versus what you save by doing something yourself.

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Consider this outsourcing for your life.

Where are some of the areas you might be able to trade money for time? Here’s a short list. Can you add more?

  • Laundry service
  • Grocery delivery
  • Food delivery
  • Yard service
  • Housecleaning

Now, you might add one more criteria: which of these do you hate to do? Those might get a little extra weight in your decision making process. It might also be important to realize which cost more than others. You probably can’t afford to do all of them.

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Are there twinges of guilt? Do you feel like you HAVE to do these things? Why? When all is tallied at the end of your life, will you get extra points for folding your own socks? Or will this time give you a chance to work on your masterwork?

Consider the value of your time, and plan accordingly.

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Last Updated on October 9, 2018

How to Write a Personal Mission Statement to Ensure Peak Productivity

How to Write a Personal Mission Statement to Ensure Peak Productivity

Most of you made personal, one sentence resolutions like “I want to lose weight” or “I vow to go back to school.” It is a tradition to start the New Year with things you want to achieve, but under the influence resolutions are often unrealistic.

If you’re wondering when will be a good time to write a mission statement, NOW is the time to take a personal inventory to make this year your most productive year ever. You may be asking yourself, “How am I going to do that?” You, my friends, are going to write personal mission statements.

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A large number of corporations use mission statements to define the purpose of the company’s existence. Sony wants to “become the company most known for changing the worldwide poor-quality image of Japanese products” and 3M wants “to solve unsolved problems innovatively”. A personal mission statement is different than a corporate mission statement, but the fundamentals are the same.

So why do you need one? A personal statement will help you identify your core values and beliefs in one fluid tapestry of content that you can read anytime and anywhere to stay on task toward success.

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For example, Tom Cruise in Jerry Maguire came to the realization that he had lost track of what was important to him. After writing a personal mission statement, we saw him start his own business and he got the girl, Renee Zelleweger. Not bad, wouldn’t you say? A personal mission statement will make sure that, through all the texting, emailing and constant bombardment of on-the-go activity, you won’t lose sight of what is most important to you.

Mission statements can be simple and concise while others are longer and filled with detail. The length of your personal mission statement will not be determined until you follow this simple equation to create your motivational springboard for 2008.

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To begin your internal cleansing, you will need to jot down the required information in the following five steps:

  1. What are your values? Values steer your actions and determine where you spend time, energy, and most importantly, money. Be specific and unique to yourself. Too much generalization will not be as effective. It is called a “personal” mission statement for a reason.
  2. What are three important goals you hope to achieve this year? Keep your list of important goals small and give them a date. It is better to focus on the horizon and not the stars. Realistic goals are keys to ultimate success.
  3. What image do you hope to project to yourself? How you see yourself is how the world will view you. Think about this carefully. Your image should encompass what you look like and feel after you have achieved your goals.
  4. Write down action statements from each value describing how you will use those values to achieve your three goals. Start with “I will…”
  5. Rewrite your statement to include only your action statements. Make portable copies for your wallet, car or office.

If you followed the steps above, congratulations! You have just written your first personal mission statement. Your personal statement will change over the years as your goals change. You can have more than one statement for the different compartments of your life such as your career, family, marriage, etc.

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Writing a personal mission statement is an effective method to ensure your productivity is at its peak. It is an ideal tradition to start so that when next year rolls around, the outdated practice of resolutions will be something you permanently left in the past.

Featured photo credit: Álvaro Serrano via unsplash.com

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