Piggy Savings Bank
There’s a huge difference between spending time and investing it. The word “spending” means that you’re using something up or exhausting it. When you spend time, you’re not really looking to get anything back. When you invest in something you expend resources, but you do so with an expectation of getting a good return on your investment (ROI). Investing your time means that you engage in activities which are calculated to bring you meaningful rewards.
“Investing” and “ROI” are terms which, up until now, you’ve probably heard only when it comes to money. However, you should start thinking of these terms when it comes to your time, as well.
So, how can you start making better time investments? The first step is to set goals. Until you know what you want and what is most important to you, you won’t be able to decide what the best investment of your time is.
The second step is to make a conscious decision on how you’re going to use your time. Suppose that you were given $24,000 to invest. What would you do? Would you open the newspaper and randomly pick seven or eight stocks to invest in? Of course you wouldn’t. You would think carefully about which stocks could potentially bring you the biggest ROI. However, when it comes to your time you usually spend it without giving much thought to what return—if any—you’re going to get back from your expenditure.
Think of the following:
- Are you spending your time in a relationship you’re unhappy with because you’re afraid to leave, or are you investing your time on creating a stronger bond with someone you cherish?
- Are you spending your time working at a job that pays the bills, or are you investing your time in a vocation that will allow you to create a legacy?
- Are you spending your time gossiping around the water cooler with co-workers who would gladly stab you in the back, or are you investing your time in networking with people who have values that are similar to your own and whom you know you can count on?
- Are you spending your time watching TV re-runs, or are you investing your time in leisure activities which truly bring you joy and which allow you to achieve the state of flow?
- Are you spending your time sleeping more hours than your body really needs, or are you investing your time in your health by going out for a jog?
- Are you spending your time aimlessly surfing the internet, or are you investing your time creating a passive source of income or building a business?
- Are you spending your time furthering someone else’s agenda, or are you investing your time in working toward the achievement of your goals?
- Are you spending your time playing computer games, or are you investing your time on learning the skills and getting the education that you need in order to increase your earning potential and get to where you want to be in life?
- Are you spending your time complaining about your problems, or are you investing your time in finding a solution?
- Are you spending your time giving in to negative emotions—such as anger, worry, and fear—or are you investing your time in your personal growth?
- Are you spending your time searching for lost items because your house and office are a mess, or are you investing your time on decluttering and organizing your home and work space?
- Are you spending your time responding to whatever or whoever makes some demand of you, or are you investing your time in planning your day so that you stay in control of how you use your time?
And here are some more questions you should ask yourself:
- When it comes to the people that you spend time with, ask yourself: “Is this a relationship I should be investing my time in?”
- Are there people I care about who are not getting a big enough investment of my time?
- Is this activity a good investment of my time? Does it further one of my life goals?
- Am I investing time in my health?
- Am I investing time in creating a better financial future for myself?
- Is this the best investment of my time at the moment?
- How can I begin to invest my time more wisely?
The results of spending your time, instead of investing it, are likely to be the following:
- Broken relationships with life partners.
- A strained relationship with your children.
- A lack of a social network.
- Lots of regrets.
- Health problems.
- Debt and a bleak financial future.
- The feeling that you aren’t doing anything meaningful with your life.
The result of investing your time wisely is the very real potential of receiving the following returns:
- A strong, happy marriage (or intimate relationship).
- Well-adjusted kids whom you have a good relationship with.
- A circle of close friends whom you enjoy socializing with.
- Happy memories.
- Achievements that you’re proud of.
- Good health and a longer lifespan.
- Money in the bank and financial security.
- A legacy that you’re proud of.
When you spend your time, it’s gone. But when you invest your time you get a positive return.
Time is your most valuable resource. Start thinking of the way in which you use your time as an investment. Then, get to work on making wise investments.
Related Posts:
1. 18 Powerful Tips for Overcoming Procrastination
2. Prosperity Tips – 18 Ways to Increase Your Wealth
3. Stop Procrastinating Tip: Practice Discomfort
I Recommend:
1. How to Live Your Best Life – The Essential Guide for Creating and Achieving Your Life List
2. Make It Happen! A Workbook for Overcoming Procrastination and Getting the Right Things Done
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FAQs
⌛When you spend your time, it's gone - each second that goes by, never comes back... But when you invest your time WISELY, you get a positive return, a circ*mstance to further your goals, dreams and aspirations.
What does the key is in not spending time but in investing it mean? ›
The key is in not spending time, but in investing it – Stephen Covey Treating time as a resource that can be invested – Focus inward and try to find out which investment can give you the most value Being mindful of where your time is being spent.
Why is it important to invest your time? ›
Compounding Growth: Just like money grows over time through compound interest, investing your time in specific areas yields exponential benefits. The time you dedicate to learning a new skill, building relationships, or pursuing a passion project pays off in dividends later.
Why investing is better than spending? ›
Key difference from spending: Investing is just another way of spending money, but it is disbursed with the goal of bringing future returns. Additionally, investing is usually carried for long-term financial goals, such as life insurance, real estate property, retirement, and your children's education fund.
Are you investing your time or wasting it? ›
Its about investing your time properly with a desired return, whatever that might be. If you are just spending time, you are wasting time. Do things that matter to you and that will provide a return to your time invested. As mentioned, I invest my time running because I want to have an outcome of being fit and healthy.
What is the difference between spending and investing? ›
Spending is disbursing money for living expenses and others, while investing is spending your money to build your financial wealth. When you start to spend less on things that don't matter in the long-term, you can put that extra money in the right investment vehicles to set up for a secure future.
What does don't just spend time invest it mean? ›
It means committing in advance to rewarding activities rather than attempting to squeeze those things in only after doing whatever seems most urgent at the moment.
What does invest time in yourself mean? ›
Investing in yourself means you are putting in the time, money, and energy into making your current and future life better. Instead of focusing on things that will not increase your wealth in the long term, look for ways to expand your knowledge and make your life better.
What does time as an investment mean? ›
Time passes. You use it or lose it. Almost agreed but, as with money, you can just spend it or you can make an investment, that is, you can use it in a way that it stores some value in itself and pays interests later.
What is the best way to invest time? ›
Proactively invest your time in your health by eating well, exercising regularly, getting plenty of sleep, and regularly seeing your doctors. Invest heartily in those non-physical markers of well-being as well: emotional, mental, and spiritual health—you will reap many hours of well-lived life from them.
Be Patient and Think Long-Term
- “Invest for the long haul. Don't get too greedy and don't get too scared.” ...
- “Waiting helps you as an investor and a lot of people just can't stand to wait. ...
- “The stock market is a device to transfer money from the impatient to the patient.”
Strategizing to buy suitable investments that fit your goals, risk tolerance and time horizon. Buying the right mix of stocks, bonds, mutual funds or other assets. Holding/monitoring the assets you own to make sure nothing gets out of balance and to avoid duplicating investments.
Why is it beneficial to invest over time? ›
The longer you remain invested, the more time your money could have to potentially grow. You'll do this through the power of compound returns.
Should I invest my money or spend it? ›
Saving is generally seen as preferable for investors with short-term financial goals, a low risk tolerance, or those in need of an emergency fund. Investing may be the best option for people who already have a rainy-day fund and are focused on longer-term financial goals or those who have a higher risk tolerance.
What is more important when investing time or amount? ›
Rather than trying to predict highs and lows, it's important to stay invested through a full market cycle. Focus on the time you stay invested, not the timing of your investments.
What does invest your time mean? ›
Having a time-investing mind-set means being proactive, Prof. Holmes says. It means committing in advance to rewarding activities rather than attempting to squeeze those things in only after doing whatever seems most urgent at the moment.
What is the difference between spending time and taking time? ›
When you talk about time, you can use spend and take. We talked about take a few weeks ago. The meaning is the same but the way we use these words is different. When we use spend, we usually put the person using the time as the subject of the sentence.
What are examples of investing your time? ›
Proactively invest your time in your health by eating well, exercising regularly, getting plenty of sleep, and regularly seeing your doctors. Invest heartily in those non-physical markers of well-being as well: emotional, mental, and spiritual health—you will reap many hours of well-lived life from them.
What is the difference between spending time and wasting time? ›
To spend time is to pass it in a specified manner. To waste time is to expend it thoughtlessly or carelessly. We all have time that we can either spend or waste, and it is our decision what to do with it, but once it has passed it is gone.
