Time is Money

Ever wonder how to begin saving your money and time? Good news, there is no extensive mathematical equation or textbook you have to read to do so.  Just a handful of small adjustments will help you have more time to do what’s important to you while adding more money in your pocket. Here are four simple tips to budget your time while mastering your money.


Have you heard about this growing movement? Meal prepping is preparing your meals on a weekly basis instead of day by day. This helps you save a tremendous amount of time in shopping and in cooking each night. Since you are planning out what you are eating each week, your shopping cart has fewer items (and less unhealthy temptations) which makes your bill smaller and your wallet happier. Not only do you save when buying these items in bulk every week or two, but cooking it in a way that makes sense according to your schedule, preparing for the following days will become that much simpler. You can refrigerate or freeze the meals that you make each week and pull them out to heat up or pack when each new day begins. Simple stuff right? Give it a try.


The next tip is to associate yourself with people who push you to keep striving for your goals, avoid those who are draining to be around mentally or financially. Here’s the bottom line, you have to prioritize your friendships or you will not become the person you truly want to be. It may be uncomfortable but having a conversation about creating boundaries with your friends while finding new people to associate with will keep you on track. Association breeds assimilation.


Most online banking features allow for automatic transfers and bill pay schedules. When your direct deposit hits your bank account, set a schedule for when a percentage of that money can be transferred to your savings account. You can schedule a time to pay your monthly bills directly from your bank account. Please note: Just because you automatically set a savings transfer or automate your bills doesn’t mean you shouldn’t keep your eyes on the process. Check in periodically to make sure that all things are working as they should and that there are no surprise or unauthorized debits.


Before you make the decision to buy something, practice the 24-hour rule. This also works very well with online shopping. If you want to buy something that is not essential (meaning you can survive the next 24 hours without it) leave the store empty handed. If you forget about what you wanted to buy later in that day then you didn’t really need it. To take it one step further, start unsubscribing to newsletters and email promotions that want you to buy things at discounted prices all the time. You know the ones that email you every two days.

Try one of these tips today to take back control of your time and spending. What methods are you using to manage your time?

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The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through financial therapy, education, and an innovative learning hub on wheels. Creator Marsha Barnes is Certified in Financial Therapy, Financial Social Work, and serves as an Official FICO Brand Ambassador, and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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