Thursday, September 15, 2005

Time Management

The first law of time management
We say time is money.But do we manage time the way we manage money?
Money is spent in essentially 3 avenues.
Necessities,Luxuries and Investment. What is good management of money?
Confucius said 2500 years ago that nothing is essentially right or wrong- extremes are always wrong, balance is always right.
Thus , in money management, spending all the money on necessities and luxuries with no investment is wrong. Investing every possible penny minimizing expenditure on necessities and luxuries is also wrong. Balance between the three is right.

Everybody gets different amount of money but everybody gets the same amount of time :24 hours a day. However time available to spend at individual discretion is about 14 hours as 10 hours are gone in sleep and our routine daily activities. This is like our salary-what we can spend is the amount "after deduction at source".
Bulk of this is spent on Contribution value: on the job, in the profession,vocation etc.
Some is spent on Leisure value: with family and friends or enjoying life.
Some can be spent on Transfer Value: preparing oneself for the future. Investing it like investment of money.
As a person gets senior in his life, he tends to spend more and more time on contribution value at the cost of Leisure value. Very often hardly any time is spent on Transfer value. Thus the balance is lost.
Management of time is to attain a balance on an average per day.
10 hours on contribution Value,
3 hours on Leisure value and
1 hour on transfer value.
Better judiciously he spends , more he gets good will , healthy living etc.

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