There’s a huge difference between spending time and investing it.
When you spend time, you’re not expected to get anything back.
When you invest in something you expend resources, you expect to get a good return on your investment (ROI), right?
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.
How to develop a goal-setting process?
1. Conduct a self-assessment (Assess your interests, strengths and areas to improve）
2. Write down potential goals (e.g. buy a property)
3. Convert these objectives into SMART goals
(SMART = specific, measurable, attainable, realistic, and time-bound）
The more specific your goal is, the easier it will be to develop the ways to achieve it.
An example of a SMART goal would be:
Specific: I will start to save money and buy an investment property.
Measurable: I will save RM40,000 for my deposit and buy an investment property.
Achievable: I will save RM1,000 per month to achieve my target of a RM40,000 deposit for me to buy an investment property.
Realistic: I will save RM1,000 per month to achieve my target of a RM40,000 deposit for me to buy an investment property that is valued around RM400,000.
Time Specific: I will save RM1,000 per month to achieve my target of a RM40,000 deposit by March 2024 (which is just over 3-4 years from now) for me to buy an investment property that is valued around RM400,000 by 31 December 2024.
4. Build an action plan to meet these goals (e.g. This can be a notification on your phone, sticky notes on your desk or reminders on your computer.)
5. Map out a timeline and set deadlines (Giving yourself specific dates to hit)
6. Get started on your goals (Follow each step you plan for yourself and try your best to stay on track)
Example of a goal-setting process
Example of Goal: I will save RM1,000 per month to achieve my target of a RM40,000 deposit by March 2024 (which is just over 3-4 years from now) for me to buy an investment property that is valued around RM400,000 by 31 December 2024.
Actionable steps:
1. Cook meals by yourself.
2. Reduce the entertainment budget or social parties, replace with reading at home.
3. Cancel automatic subscriptions and memberships you don’t use.
4. Other ways that you think can let you save more money.
Ways to invest your time for greater productivity and results
If you want to keep yourself invigorated, here are some simple ways to invest your time instead of spending your time:
1.Hang out with some wise guys
Connect yourself with the best entrepreneurial thinkers who generously share their insights with anyone who cares to listen.
However, do not try to listen to everybody who is offering advice. You need to filter it, find your favorites, and pay close attention. Think of how you can put their ideas to work in your goal.
2.Schedule ninety-day inventories
Regularly invest time in looking at what’s working, what needs help, and what is ready to be discarded.
It’s easy when our goal gets nearer, but in order to shorten the time period and create something satisfying and profitable, a regular evaluation is a valuable tool. Put it to work for you.
3.Be willing to try and stay on course
It’s certainly true that those who become more than mildly adequate invest heavily in practice.
Like an 8-year-old child who keeps learning to play the piano, it is easy to procrastinate about putting in the time that we need to improve—and, eventually, dazzle.
Finally, remember that it takes time to achieve outcomes and accomplish goals.
4.Take breaks
It is also important to take breaks throughout the day.
You can refresh your mind and come back to work with more energy when you take short breaks.
You can relax your day with:
1.Going on a walk or exercise
2.Taking a nap (e.g. 15 minutes)
3.Chatting with friends and loved ones
4.Reading
So, now you know how to invest your time wisely.
If you are looking for property investment, you may contact us for more information.
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