Jan 27, 2011

#213: What's Your Time Worth? (Friday, January 28)

Many of us have been there before: we're in a job that we dislike or that doesn't challenge us to our full potential, so we spend the day browsing the web, chatting on Facebook or Twitter or playing online computer games. And even after the company blocked all the fun sites, we still find a way to access them on our smartphones. I've been there before...and that's how I knew it was time to find a more challenging opportunity.

Now don't get me wrong; I'm not saying that you should spend every minute of the work day working. I know social connections are very important. BUT, if you're spending more time at work on social networking sites or browsing the web than you are working, you are devaluing the worth of your time.

I know you're probably thinking "What does this have to do with my finances?" Everything. Time is money, and the more time you waste, the more opportunities you waste to increase your earning power. Mark Zuckerberg, Oprah, Bill Gates and Warren Buffet all have the same amount of hours in a day that we do and I don't perceive them to be any smarter than you or I. The difference is how they use their time.

The Idea: Limit your non-work-related web browsing to ONE hour per workday. Break it up into 5-10 minute intervals between projects, but no more than one hour. If you have "down time" during the rest of the work day, spend it productively: research possible business ventures that you could start on the side to earn extra income, take an online course, learn about some new area of your company (you never know where your next opportunity will come from)...something that will ultimately improve your life or your knowledge in the long run.

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