time management tips

How to manage your time like a millionaire?

Self-made millionaires spend their time focusing on personal growth, thinking, and planning future endeavours.
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Time is the greatest resource we have at our disposal. Yet we complain about not having enough hours in a day to do what we want to do. Why is that? Could it be because we waste our precious hours indulging in mindless chit-chats or browsing social media feeds when we should be doing something else instead? Whatever may be the reason, it’s evident that many people don’t manage their time as well as they should. Certainly not like self-made millionaires, who seem to have figured out the secret of effective time management.

According to Business Insider, self-made millionaires allocate their time differently. They spend more time focusing on personal growth, thinking, and planning future endeavours. They know that only by gaining mastery over time, can they achieve success. Warren Buffett, one of the most successful investors of all time, once said in an interview, “people are going to want your time. It’s the only thing you can’t buy. I can buy anything I want, basically. But I can’t buy time… I better be careful with it.”

This shows how valuable time is and why we need to learn to manage it efficiently. If you are among the ones who want to know how to manage time like self-made millionaires, here are a few tips that can help you do that.

Start your day early

Starting your day early gives you an ample amount of time to plan your day in a way that best suits you. Successful entrepreneurs such as Tim Cook, Richard Branson and Jack Dorsey, all wake up early. Cook starts his day at 3:45 am and gets a head start on emails. Branson gets up at 5 am to exercise and spend time with his family, which puts him in a great frame of mind before he gets down to business. Dorsey wakes up between 5 to 5:30 am to meditate and go for a 5-mile run. Waking up early gives them enough time to focus on their work and partake in activities that brings them inner peace and joy.

Focus more on your personal growth

Developing habits that can help increase your productivity is important if you want to achieve success in life. Millionaires understand this, and hence, dedicate a significant amount of their time to activities that support their personal growth. According to research conducted by Sarah Stanley Fallaw, the author of the book, The Next Millionaire Next Door: Enduring Strategies for Building Wealth, “They (millionaires) spend roughly 5.5 hours a week reading for pleasure and nearly six hours a week exercising compared to the average American, who spends two hours and 2.5 hours on those activities respectively.”

Learn to say ‘no’

Successful people don’t waste their time indulging every request that comes their way. They are fiercely protective of their time. As pointed out by Warren Buffet in the quote mentioned above, “People are going to want your time.” Hence, you need to decide whether or not they deserve it. If you give your time away to everyone who asks for it, you will end up feeling tired and irritable. Also, chances are, your work will remain unfinished because you were too busy entertaining someone else’s request.

Reduce the number of meetings

Meetings can take a huge chunk of your time if you let them. A study found that 31 hours are spent in unproductive meetings over a month and 39 percent of those who attend them fall asleep. Even entrepreneur Mark Cuban isn’t a fan. He prefers e-mails over in-person meetings, according to Thrive Global. However, despite the statistics and opinions, meetings are necessary for a workplace as they foster relationships and ensure proper information exchange, provided they are done right.

Set achievable goals

Set achievable goals. This will not only keep you focused but also boost your morale once you accomplished them. Moreover, when you are aware that the goal you’ve set for yourself is within your reach, it is unlikely that you will waste your time and energy in activities that can reduce your chances of accomplishing them. At the same time, setting realistic goals stop you from overcommitting and finishing your work before the deadline, all of which keeps the stress at bay.

Take time to relax and recharge

It doesn’t matter how packed your schedule is, it is essential to make time for regular breaks so you can relax and recharge your mind. It could be a 10-minute break every hour or an hour-long lunch break. The point is you need to know when to switch off your system and relax for a while. Motivational speaker Tony Robbins says, “part of building good habits also includes taking breaks when needed. As much as you’d like to stay at the office all day, you can’t effectively work without regularly resting and recharging.” Hence, like a millionaire, make time to relax so you can recharge your batteries for the next assignment.

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