I don’t have time! An excuse or a need to streamline? Time the most important resource. Time is the one that takes control of us. In fiction, financial and personal development literature it has its place; a prominent one.
Time is the one that solves everything, they say. Let time decide! Let time solve it! These words may be for myths or not. It depends on how this resource is managed.
People have always wanted youth without old age and life without death and prosperity. Time has created empires. In time, many problems have been solved and great goals have been achieved.
I don’t have time! Then and now!
In times long gone by, before the media and the internet existed, time was appreciated at its true value. Now time is in a hurry. People are in a hurry and want everything quickly: they want food, money, career. Unfortunately, what is done quickly, just to be done quickly, can be lost just as quickly, if certain necessary stages of evolution, of achievement are not taken into account.
Time is priceless but there are other values that we must take into account and do them in time. Now, due to the century we live in: the century of speed, the emphasis is on doing everything quickly. The Internet is fast and offers us all the quick prospects, loans are fast, and people have started looking for schemes to get rich quickly and to create an equally quick career. But not all of these are stable, sustainable. A quick enrichment can bring great and serious losses, and a career made quickly, if not taken care of, falls apart.
Time and Planning
Personal and financial development takes time. Time is what brings with it quality information, skills, knowledge and ideas. Quality things take time.
In order to achieve a financial goal such as purchasing your own home, you need to wait a while until you have collected the down payment for your home, the money to furnish it and to pay off the loan or the entire amount for the cash purchase. Valuable goals require time to be achieved.
Of course, you can have the house faster and play the lottery or invest your money in speculative methods. These methods also require time, but they also involve risks. There have been no winners who have money from the lottery and enjoyed it; they all lost it. There are no quick investment methods that bring money quickly into your pocket. Smart investment methods require time. Compound interest, the eighth wonder of the world, as Albert Einstein called it, requires 7-8 years for the profit recorded to exceed the amount invested.
Financial education and time
Financial education also involves time. In order to create something of value, it is necessary to take the time to achieve it. Planning done in advance leads to the optimal achievement of our goals. The sooner we start planning our income-expense-savings budget and saving money for the purchase of a home in advance, the more money we will have to buy it. When we have time, we also give our money the ease to multiply.
The capitalized proof is good to have for our saved money, we see it in …time. In 7-8 years, the interest begins to equal the amount we deposit per year (it depends a lot on the amount allocated and the level of interest received), and from year 8 it begins to exceed the amount deposited annually. But it doesn’t happen quickly, it doesn’t happen tomorrow. Only loans offer you money easily and quickly: NOW; only you pay interest for a long time, for years, and everything you purchased now on credit you bought more expensively, at a higher value because of the interest paid on the credit, with the borrowed money.
What happens if you don’t have it now?
Haste ruins things says an old Romanian proverb. What happens if you don’t have a smartphone now? What happens if you don’t eat at 5-star restaurants? What happens if you don’t take an exotic vacation?
You are excluded from the group and you will have nothing to post on social networks. Most of the time these are the consequences of not achieving NOW.
Everything related to NOW: smart phones, luxurious vacations or luxurious restaurants is related to belonging to a group for which these are the values. Let’s not forget that the level of belonging to the group is at level 3. https://www.psihologiabanilor.ro/obiectivele-financiare-și-etapele-vieții/
To reach this level it takes … time to build up a financial safety fund that covers between 3 and 12 months of expenses if you happen to be left without income for a period of time. After completing this first level, we are talking about saving and realizing the need to have a roof over your head, which is a costly goal from a financial point of view.
Society and Values
Whose goals are they? Whose values are they? They should all be yours.
Who do you live for: yourself or others? Who are you and what do you want from yourself, from your money, from life?
Goals should be yours, contain your characteristics, and have the time horizon you agree on. Everyone will then respect your decision and be by your side. Everyone who is your friend and understands your goals and values.
Society, family, friends can impose their values and goals on you. Society will agree on a certain set of goals and a time frame for achieving them, but what is important to you?
All these questions help you identify your values and goals, not those of others. Ask yourself: “Do I have no time?” It helps you become aware of what you really want, leaving behind what others want. Everyone works for their goals, allocating their time and the work related to their goals and time. You are different! Each of us is different and wants something different and has something different.
Do I have no time?
The shorter the time we involve in achieving our goals, the more money we need to allocate to achieve them. If we allocate a larger, broader horizon to achieve our financial goals, then it is not necessary to allocate a large amount of money because we use time to reach the large amount; the amount necessary to achieve our goals.
The two resources: time and money are interdependent and thus it is necessary to find an optimal ratio, according to our financial needs because we are the ones working to achieve them, not someone else. I invite you to read more about time management and efficiency. You can do it here:
Good luck in becoming more aware of your money (and the time you spend on your goals)!
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