Recipe For Financial Freedom

Time, this is the only asset which everybody in the world have and is distributed equally i.e. 24 hours in a day. No matter how you spend your it, you will get the next set of 24 hours the next day. You can spend time wasting it or spending it constructively.

The essential condition comes along with this asset is that you have to spend it. You cannot accumulate it, store it or gain any kind of appreciation on it. But this asset has a peculiar characteristics, this particular asset can let you accumulate other assets if you spend it wisely.

Setting financial goals making resolutions for the next year are the part of goal setting. You can achieve these goals by working for them. The underlying assumption for this is that you will work hard, change your behavior to finally achieve these goals. The important thing knows is you can’t achieve your set goals if you don’t stick to a time schedule. Even if you achieve the goals without a schedule you cannot expand/enhance your goals in the future.

I just want to set my time straight for a single day. Practice the same for a few days and then make it a habit. Improve upon the habit thereby improving my life. To put this into effect I need to check the time that I spend in my available 24 hours. I was observing myself over the past few days and how I spend my time.

My typical day

Getting up at 8:00 in the morning getting ready for my job till 9 leaving for the office it takes 35 min to reach my office. This includes the breakfast time of 20-25 min. Spending time doing work for 8-9 hours and again back at home at nearly 8:00 in the eveining.

So my job is nearly 12 hours daily including the travel time. In the evening I watch TV for 1-1.5 hours and then prepare my dinner this takes my 2 hours. After having my dinner I surf the net, read blogs, write one or two and then sleep.

Broadly this is my daily routine. On weekends I meet some of my friends, read books and do some weekly chores like washing clothes, dusting my house, watch an occasional movie, etc.

This is a haphazard way of spending time simply because I have no goals for my time as I have with my money.

Setting my time straight

I sleep for eight hours; I am planning to reduce it to 6 hours. I have read a 6 hours sleep is a healthy sleep.

I am moving over to Hyderabad. There I’ll have my residence near my office that would save me nearly one hour a day spent for traveling.

I can have a cook as Hyderabad is relatively inexpensive compared to Bangalore, alternatively I can increase my cooking speed and complete my dinner in one hour, this would save me nearly one hour of time.

These are tentative figures that I am setting for me for now. This would bring some urgency in me, I would start respecting time. The tangible advantage that I’ll be having is earning a full four hours a day. This I can distribute for my daily exercise, reading and focusing on my other priorities.

The point I want to make through this post is that most of the people set their goals, financial goals, etc. but they never do consider the time in their goals except the deadline (a particular time) they put for their goal. But to me I have realized that time is a process which can be worked upon to have it more me. Some improvement in habits it will take to build a corpus of some hours daily.