Financial Wisdom and Wealth

There are many types of thieves, but seldom do we consider the thief of time. Time is our most valuable asset, and usually the least protected. Because we don’t see time as essential to our physical survival, we tend to neglect it. Some examples of time thieves and how to overcome them:

Poor Planning and Procrastination. Nobody plans to fail, they just fail to plan. Planning is essential to all aspects of life, whether it be financial plans, emergency preparedness, vacation plans, et cetera. Without a plan of action to direct you, you are often drawn to the things that are easier or to the most urgent items that may not be the most important use of your time. You should always be investing 3-5% of your time and 3-5% of your money in skills and knowledge that you’ll need in 3-5 years. Set aside time each night for Daily Planning, a time for you to take control of your most important asset, the next twenty-four hours. Create a To Do list with all the things you “have to” do and, more importantly, all the things you “want to” do. You’ll be amazed at how much more efficient your day is through planning. Prior Planning Prevents Poor Performance.

Committing to non-essential activities. Even if the commitments are “good,” doesn’t necessarily mean that it is the best use of your time. Think about what you are committing to; will it matter tomorrow? five years from now? Try to stay away from the non-important and non-urgent activities. Determine if the activity or meeting is necessary, and then if your presence is necessary.

Interruptions. Write down or log interruptions as they occur over a few days. Put down who brings them to you, how long each interruption lasts, and whether or not they were valuable or of no value. Once you accumulate your data, get the most frequent interrupters who bring the interruptions with no value to change their actions and agree to not bring as many low value interruptions to you in the future.

Media. Television, Internet, and movies, although they can be informative, steal a great deal of time. M. Russell Ballard gave a great talk in April 1989 General Conference about The Effects of Television. Determine what media is necessary and put it in your plan. Perhaps you watch a movie for family night, or you listen to the news on television while you get ready in the morning. But make sure it’s in your plan.

Wrong Priorities. Too often we put “wants” above “needs.” Adjusting inappropriate priorities will free up time spent shopping, over grooming, cleaning, et cetera. When you put first things first, second things easily fall into place. When you are planning your day, consider each item and ask, “is this the best use of my time?” If it is not, but is still necessary, delegate it to free up your time for something more valuable.