Many people struggle to be frugal as it can take more time and organization than a ‘regular’ lifestyle. We live in an increasingly busy society and now more than ever, being able to manage time properly is essential for saving money.
With these simple techniques, you’ll save time, making your money go further and therefore reducing stress as well.
Don’t Take On Too Much
We all like to be needed in one way or another. It helps us feel a part of our social and work community and gives us a sense of significance. But taking on too many responsibilities will stretch you too thin and waste time.
Learn to say ‘No’ sometimes and you will not only have less stress and more time, you will be able to give your best to the things you do say ‘Yes!’ to.
But I can’t say no, I have responsibilities.
True, responsibilities are a part of life, but we all do things that aren’t necessary. Sometimes ‘busywork’ is an excuse for procrastination. Be brutally honest and come to compromises with others if needs be. Doing too much for others can even hurt them, as it prevents them from learning valuable skills.
Prioritize With A To-Do List
There’s a theory that whatever you are doing, 80% of your results are achieved with just 20% of the work you do.
This is because most of our days are filled with being busy, not productive. By making a ‘to-do’ list and ordering it by importance, you can make progress faster and eliminate anything that is actually unnecessary.
Also ask yourself if everything needs to be done by you. If there are others capable and available, delegate tasks to them (more on this later).
Stop Procrastinating
Distractions are inevitable and it’s important to make allowances for them. But there comes a point when they can take over and become excuses. Many people use distractions as a form of procrastination, putting off something they either don’t want, are afraid or not motivated to do.
Ask yourself why you are allowing yourself to get distracted. Are you working on something (like a budget) that needs to be done, but bores you? Are you feeling overwhelmed?
It could be you are working in the wrong environment. If there are many noises, people etc. if you can, try changing your location so you can concentrate better. You can try working in a different room, at a local library, a friends house or even in the park. If this is not doable, consider listening to non-distracting music, such as meditation music or nature sounds on your computer or phone using headphones.
Take Time Out
Yes taking time out to relax can save you time! Our bodies are designed to work at their best when rested.
The more stressed and tired you get, the less your body and mind function properly. By taking regular breaks, even if it’s 10 minutes for some water and a snack, you are giving yourself a chance to order your thoughts, take stock and refresh.
When you go back to your task, you will have fresh eyes to see solutions previously missed. You will also be able to see how much you have achieved so far.
Use Forward Planning
Have everything you need in advance for your task. Be organized and prepare all of the tools and information you will need before you start.
Missing something you need to complete your task is a distraction, can waste valuable time and end up costing more. Cooking dinner, but need an ingredient? Popping to the shops for one or two things means not just costing more time, but more expenses for travelling and the lure of impulse buys.
Find Your Best Time To Work
Listen to your personal body clock and work when you feel at your best during the day or night.
As we have already established, trying to achieve anything when you are tired and stressed is a waste of time. If like me you work best in the afternoon and evening, then do that if you can. If it’s at dawn that you feel your best, go with it. We all have different systems and working out how yours responds, will put you in the best frame of mind to get things done.
Keep times when others are dependent on you being there to a minimum and find alternatives where possible.
Make Use of Downtime
It’s good to take time to relax with loved ones. But if you’re sitting in front of the tv for a couple of hours each night, are there any minor tasks you could get done at the same time? I like to keep a basket and add any clothing or linen that needs mending to it throughout the week. I then work through the basket one night in front of the tv. Other tasks could be things like ironing or folding laundry. It could lessen the demand for your time the rest of the week.
Delegate to Save Time
This goes hand-in-hand with learning to say no. Do you really have to do everything? If you have a partner or children, are there any tasks that they could do instead? This can free up your time to maximize your money and also teach your children valuable frugal skills for their future.
If you’re like me, it can be really difficult to ask for help, but we have to remember the household (including how finances are spent as well as earned) effects everyone who lives there, so everyone should play their fair part.
