Imagine if you won a prize that gave you $86,400 / day.  The catch is that you can't save or invest the money, you must spend it all by the end of the day, any money you do not spent is lost.  How would you spend the money?

You have already won that prize.  Instead of money it is time.  You have 86,400 seconds per day, not accounting for leap seconds.  Unfortunately this time can't be directly saved, we can just try to transmute it into other forms, of which money is one.

What is your current situation, do you have too much time or not enough time?  I have had points in my life when I could completely relate to the Styx song "I've Got Too Much Time On My Hands."  I suspect that is a position that many people find themselves.  Without goals and no clear plan on how to achieve those plans, it can be easy to be lost and not know what to do with all the time that we have been gifted.

After you start setting goals and taking actions towards those goals, you may find yourself quickly on the other side of the spectrum where you aren't sure how to accomplish all that you have to do.  So, how do you handle the situation of having too much to do and not enough time?

I was reading Steve Pavlina's polyphasic sleep experiment to increase his amount of wake time per day from about 17 hours to 22 hours.  This is about a 29% increase in available work time.  In the end he decided to return to the regular sleep pattern and accept 17 hours of productive time.

I'm not sure exactly what Steve planned to accomplish with the extra hours, though it probably wasn't to make more money, because he correctly points out in his post "10 Reasons You Should Never Get A Job" that a key to financial success is to "de-couple your value from your time".  This means that if you want to be truly financially successful, it should not matter if you have 1 hour or 100 hours per day, so this should not have been a reason for trying to get more time.

I'm not sure that there is really anything special about money.  I think this idea of de-coupling your results from your efforts is a key to success.  If you think about it, anyone that you know that has achieved greatness has been able to achieve that with exactly the same amount of time per day as everyone else.  It is as much as what they were able to accomplish during that time, as it is how they were able to influence others to help them during that time.

There are of course some exceptions, for example athletes must spend time working out.  I'm not aware of any way for you to have someone else exercise for you.  Now that I think about this, it is the same for our mind.  The one thing that you can't get someone else to do for you is to learn.  Most everything else, besides taking care of personal things like eating, sleeping and going to the bathroom can be given to someone else to do.

If you really want to, and if you have the money, you could pay someone to do most of the things you are doing everyday.  You can pay someone to clean your house, you can even pay someone to look after your family.  The one thing that you can't pay anyone else to do is to learn.  I suggest you may want to dedicate a significant portion of your time to learning and constantly figure out how you can transfer work to others in a profitable way.

Brian Tracey talks about this.  He says that you can calculate your hourly rate and then anything that you can get someone else to do for less than this rate we should get them to do.  For example, if you want to make $50,000 / year and you work 40 hrs/wk, 50 wk/yr, then your hourly rate would be $25 / hr.  Anything that you can get someone else to do for less than $25 / hr you should have them do.

I think the key here is that learning is one of the most valuable things you can do.  Doing things is a great way to learn.

What are you learning today?
 


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