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Hello again Wealth Builders!

Here’s “the first part of Part 4″ of Personal Money Management for Wealth Builders:

Manage Your Time Effectively.

All of Part 4 is about time management, but there’s a lot of info so it’s divided into several sections. This is Part 4a; the other sections follow in separate posts. With that said, let’s get started!

Time Management Basics

Proper time management is a vital aspect of

Wealth Building in general, but it’s worth mentioning as a specific part of Personal Money Management as well.You see, when you learn to manage your time effectively you increase your discipline and focus, and you start to take charge. This helps you with

Wealth Building, and in many other aspects of life as well!So many of us spend our days in a constant state of rushing around, trying to cram as much as we can into too little time, and always feeling like we have too much to do. We eat too fast, drive too fast, get impatient, and generally stress ourselves out.As a result, rushing becomes an unpleasant, mindless habit… until it catches up with us in the form of poor health, disease, psychological issues, a car crash or some other negative consequence.Guess what? It’s not necessary! In fact, in order to get out of the Rat Race, the first thing you need to do is stop rat-racing! Many of us start out with great intentions, determined to get out of the rat-race by starting our own business, climbing the ladder in our current workplace, or getting a better job somewhere else. But we place all our focus on “do-do-do”, thinking that we have to work harder and longer and cram more into each day in order to succeed.As a result, we scatter our efforts and waste time and energy rushing back and forth, or we create such a massive and intimidating “to-do” list that we wind up procrastinating and barely do anything. Either way, we reduce our effectiveness and accomplish nothing except increased stress.

Instead, take a tip from successful self-employed people and business owners. Yes, these people sometimes spend a lot of time in their business, especially when they’re just starting out, but those who “do it right” make that time count and leverage their actions to the max. In turn their actions pay off, the business prospers, and as it grows they wind up having more time (and money) to do what they want.

You can apply this type of time management yourself, regardless of whether you’re self-employed or working for someone else. I call it the Entrepreneur’s Example - read on to learn about it…

The Entrepreneur’s Example

Successful entrepreneurs are masters of time management… which means they’re masters of scheduling and discipline. They’re also masters of delegation and leverage.

Effective time management helps entrepreneurs’ businesses - and bank accounts - grow rapidly. Many individuals who start their own businesses fail rather quickly due to not focusing on the tasks that most help their company’s growth and productivity.

This applies to life in general too! If you’re not managing your time effectively and focusing on the tasks that most help your growth and productivity, you’re limiting yourself and creating negative long-term results… in all areas of your life. Read on for more. Also, for some great “day to day” time management materials, check out these highly effective, highly rated time management & organization products.

Do Your “Busywork” - But Don’t Let It Control You!

Many of us have fallen into the habit of running ourselves ragged doing all sorts of “busywork”… things that need to be done but often not as urgently as we’ve trained ourselves to believe. (Buying groceries, doing laundry, going to the bank or post office, getting the car serviced, shopping for gifts, you name it.)

By focusing on time management we can schedule busywork into much more manageable blocks. Yes, those tasks need to be done (usually). However, it makes a lot more sense to group them into one or two days of the week rather than trying to fit one in here, another there, another somewhere else, and therefore distracting ourselves from more productive tasks.

Eliminate Procrastination

Procrastination is like a little white lie we tell ourselves. We think we’ll feel better if we do something fun and easy like watching TV, surfing the Net, grabbing a bite to eat or even going for a stroll, instead of reading that article, making that phone call, sending that e-mail, studying that course material, updating that web page or blog, or whatever. Procrastination masquerades in many, many disguises.

Eliminating procrastination comes down to simple self-discipline. As I mentioned, successful entrepreneurs are masters of discipline. This doesn’t necessarily mean they’re totally rigid, stuck in their ways or focused on “do-do-do” all the time. What it means is:

1. They identify what needs to be done and, more importantly,
2. They do it.

Pretty simple concept isn’t it? When we take action and do what needs to be done, we usually get the results we want. If we don’t, we just change our approach and take action again until we do get the results we want. But if we procrastinate and don’t take action, we’ll never get the results we want. If you want something, you need to take appropriate, inspired action to get it!

Again, I highly recommend these time management products as a great additional resource.

Next, in Part 4b of Personal Money Management for Wealth Builders, we’ll look at some powerful time management tips… see you there!