Latest / The Kathie Owen Perspective Podcast / 101. Master Your Time and Money - Tips for Success | Virtue

Transcript

101. Master Your Time and Money - Tips for Success | Virtue · The Kathie Owen Perspective Podcast

• 0:00
  Mastering time and money tips for successful budgeting mindset.
• 0:06
  In today's fast paced world.
• 0:08
  Having enough time and money are two of the most valuable resources.
• 0:14
  How we manage these resources can have a significant impact on our personal and professional success.
• 0:21
  However, managing time and money effectively is often easier, said than done.
• 0:28
  It requires discipline focus and a growth mindset.
• 0:32
  A good mindset is a belief that one's abilities and intelligence can be developed through hard work, dedication and perseverance.
• 0:41
  This mindset is essential when it comes to budgeting time and money.
• 0:45
  Without a growth mindset.
• 0:47
  It can be easy to fall into a fixed mindset where we believe that our abilities and circumstances are set in stone and cannot be changed.
• 0:56
  This will not serve you.
• 0:58
  The first step is to create an abundance mindset.
• 1:02
  Let's discuss this.
• 1:04
  You're listening to the Kathie's Coaching Podcast.
• 1:07
  I'm your host, Kathie Owen.
• 1:08
  I have been a certified fitness trainer.
• 1:11
  And certified life coach since 2002 on this channel, we talk about having a growth mindset, healthy habits, fitness, and even some Reality Transurfing.
• 1:21
  And today we are talking about building a virtue.
• 1:25
  Which is mastering time and money.
• 1:29
  All right.
• 1:29
  When it comes to budgeting time, a growth mindset is so crucial.
• 1:34
  It allows us to view time as a resource that can be cultivated and improved upon.
• 1:39
  Instead of believing that we are limited by the number of hours in a day.
• 1:44
  We can develop strategies to make the most of our time.
• 1:48
  When it comes to budgeting time, a growth mindset is super crucial.
• 1:52
  It allows us to view time as a resource that can be cultivated and improved upon.
• 1:58
  Instead of believing that we are limited by the number of hours in a day, we can develop strategies to make the most of our time.
• 2:06
  For example, we can learn time management techniques prioritize our tasks and eliminate distractions that actually waste our time.
• 2:15
  With a growth mindset we can continuously improve our time management skills and become more efficient with our time.
• 2:22
  Talk about productivity.
• 2:25
  Now I would say that's a good thing.
• 2:28
  And when we discuss growth mindset and budgeting your money.
• 2:32
  A growth mindset is essential when it comes to budgeting your money.
• 2:36
  It allows us to view our financial situation as something that can be improved upon.
• 2:41
  With effort and dedication.
• 2:43
  Instead of believing that we are limited by our income, we can develop strategies to save money, invest wisely and increase our earning potential.
• 2:53
  With a growth mindset we can continuously improve our financial literacy and make better financial decisions, which equal financial success.
• 3:04
  So this week's episode comes from the 12 week virtue building program that I have.
• 3:09
  And you can learn more about that by going to kathieowen.com/virtues, but it is a free program that I offer building on the different virtues.
• 3:21
  And this week it is budgeting time and money.
• 3:24
  One of the most significant benefits of having a growth mindset when it comes to budgeting time and money is that it allows us to embrace failure and learn from our mistakes.
• 3:35
  This is exactly what I talked about a few episodes ago on the virtue of learning from personal defeat.
• 3:42
  I will have a link to that episodes article that includes the video and the podcast episode in the show notes below and description below.
• 3:52
  With the fixed mindset we may view failure as a reflection of our abilities.
• 3:57
  And give up whenever we are faced with setbacks, however, with a growth mindset, we can view failure as an opportunity to learn and grow.
• 4:06
  That is why I chose this as one of the virtues in my 12 week virtue pro building program.
• 4:13
  When we make mistakes with our time and money, we can analyze what went wrong.
• 4:17
  Adjust our strategies.
• 4:18
  And then try again With a growth mindset, we can turn our failures into a valuable learning experience.
• 4:28
  Now of course talking through the virtue building program, I would be amiss if I didn't mention Napoleon hill and Napoleon hill emphasize the importance of budgeting time and money to achieve success in his book, The Laws of Success he even dedicated a full chapter to budgeting time and money.
• 4:47
  Hill taught us that time and money where two of the most valuable resources available to us, he discussed how managing these resources effectively were essential for achieving success.
• 5:00
  According to hill successful people understand the value of time and money and develop a plan to make the most of these resources.
• 5:08
  He taught us that budgeting time and money required.
• 5:12
  Discipline.
• 5:13
  Focus and a clear vision of one's goals.
• 5:17
  He emphasized that individuals should set clear goals and develop a plan to achieve them.
• 5:22
  You know, the definite chief aim and this plan should include a budget for both time.
• 5:28
  And money.
• 5:29
  Which should be followed closely to ensure success.
• 5:33
  Hill also taught us that successful people understood the importance of investing in themselves.
• 5:38
  He emphasized that individuals should take the time and money to invest in their personal and professional development.
• 5:45
  This could include taking courses, attending seminars or reading books, which would help them improve their skills and knowledge.
• 5:52
  Napoleon hill believed that budgeting time and money was essential for achieving success.
• 5:57
  He emphasized the importance of setting goals, developing a plan and investing in oneself.
• 6:04
  By following these principles, individuals could make the most of their time and money.
• 6:09
  Achieve their goals and live successful lives.
• 6:13
  Here are 10 tips on budgeting your time.
• 6:16
  Number one, prioritize your tasks, identify the most important tasks and tackle them first.
• 6:24
  Before moving on to less critical tasks.
• 6:27
  I find that Notion is a great tool for this.
• 6:30
  Notion is a project management tool and it is like Google docs on steroids.
• 6:36
  It has been one of the great things that has helped me keep my thought processes to a minimum and focus on one task at a time.
• 6:44
  In fact, I wrote my book, The Truth Bubbles Up by using Notion.
• 6:48
  I had each page was a chapter and I would insert stories that I was going to include in each chapter.
• 6:55
  And before long, that book was complete.
• 6:57
  It did not take me very long at all, but I have all of my projects in notion.
• 7:04
  And I go to it every day, several times a day to prioritize my tasks and to work on my tasks.
• 7:12
  And that leads me to number two.
• 7:13
  Create a schedule.
• 7:15
  Create a schedule for your day or even your week and stick to it as much as possible.
• 7:20
  This can help you stay on track and avoid wasting time.
• 7:24
  I have found that my Google calendar helps me do this.
• 7:27
  I plan for my workouts, my work, and even my fun time.
• 7:31
  And it will make a huge impact in how you budget your time.
• 7:36
  Set time limits number three.
• 7:40
  Set specific time limits for tasks to help you stay focused and avoid getting sidetracked.
• 7:45
  Have you heard of the Pomodoro technique?
• 7:48
  I've talked about it before.
• 7:49
  The Pomodoro technique is a time management method based on 25 minutes.
• 7:54
  Stretches of focus, work broken down by five minute breaks.
• 7:59
  Longer breaks.
• 8:00
  Typically 15 to 30 minutes are taken after four consecutive work intervals.
• 8:05
  Each work interval is a Pomodoro.
• 8:09
  The Italian word for tomato.
• 8:11
  Talk about a good idea.
• 8:12
  This one thing has helped many a person focus on that one task at a time and even budget their time effectively.
• 8:22
  Number four, avoid multitasking.
• 8:25
  You knew this one was coming.
• 8:27
  Focus on one task at a time, rather than trying to do several things at once.
• 8:32
  This can help you be more efficient and productive.
• 8:34
  And the task that you were doing.
• 8:36
  Focus on the essentials that need to be done rather than wasting time on peripheral aspects.
• 8:43
  Take short breaks when doing tasks for a long time.
• 8:47
  This usually helps you to be more productive.
• 8:50
  With the time you do spend on those tasks.
• 8:52
  When it comes to avoid multitasking.
• 8:55
  I have to bring this in because this could appear to be multitasking.
• 8:59
  And that is batch.
• 9:02
  Recording batch writing, whatever your work is, do similar things in batch, for example.
• 9:09
  When it comes to every episode, the first thing I do is get it in writing.
• 9:14
  I write it in notion and then I also take it over to rank IQ so I can get my blog posts help with my SEO, my search engine optimization.
• 9:26
  That's what rank IQ does for me.
• 9:29
  And then from rank IQ, I take my article over to my blog and I put it into my blog and then.
• 9:38
  I record the video.
• 9:39
  So have each step laid out my point in telling you that is for example, I will do my writing first and I will write two or three episodes.
• 9:48
  And then that usually takes place on a Monday or Tuesday.
• 9:51
  And each day has different things that I do that I batch do.
• 9:56
  So I don't just record one video at a time.
• 9:59
  I record two or three, sometimes four, sometimes more, depending on my time.
• 10:05
  And that helps you.
• 10:08
  First of all avoid multitasking.
• 10:10
  Second of all, it helps you stay focused.
• 10:13
  Which leads me to number five, which is eliminate your distractions.
• 10:18
  Identify distractions that may be taking up your time, such as social media and eliminate them as much as possible.
• 10:26
  Work to create habits that signal to yourself and those around you that you're in distraction, free mode.
• 10:34
  Close the door to your office.
• 10:35
  Put on noise, canceling headphones and turn off your phone or put it on silent mode and move it away from you so that you can't easily pick it up.
• 10:45
  This will help eliminate those distractions and create a more of a focus.
• 10:51
  Number six take breaks.
• 10:53
  Take regular breaks throughout the day to give your mind and body a chance to rest and recharge.
• 11:00
  Breaks are essential to keeping you in the flow state.
• 11:04
  And I highly recommend breaks that include a walk in nature.
• 11:09
  Number seven, learn to say no, avoid over, committing yourself and learn to say no to requests or activities that don't align with your priorities.
• 11:18
  No is a complete sentence and a healthy boundary.
• 11:22
  Practice makes perfect.
• 11:23
  And once you do this a few times, you'll find you've built the confidence to do.
• 11:29
  So more often.
• 11:30
  Because you say, no, you are respecting the budget of your time.
• 11:35
  You'll find others respect this too.
• 11:37
  When you commit to that boundary.
• 11:40
  Number eight, delegate your tasks, consider delegating tasks to others, to free up your time for more important activities.
• 11:48
  And delegation is a whole nother topic we could talk about because there's so many different options, especially in today's world.
• 11:55
  To help us delegate our tasks.
• 11:58
  Number nine use technology use tools like calendars.
• 12:01
  Like I mentioned, my Google calendar use timers, like the Pomodoro method and productivity apps to help you stay organized and focused.
• 12:12
  And number 10, reflect and adjust.
• 12:15
  Take time to reflect on how you're using your time and adjust your schedule or habits as needed to improve your productivity and efficiency.
• 12:25
  Let's talk about budgeting money and here are 10 tips on budgeting, your money, track your expenses, keep track of your spending habits and identify areas where you can cut back.
• 12:38
  First start budgeting with small things, then build up to that goal.
• 12:42
  Planning to the big budget.
• 12:45
  Your financial management is essential and it can be the best budgeting technique you have when you track your expenses.
• 12:52
  Number two set financial goals, define your financial goals and create a plan to achieve them.
• 12:59
  This is the best way to create a financial future that you can rely upon.
• 13:04
  Number three, create a budget.
• 13:06
  Now I know this may sound obvious, but it is definitely the best way to ensure you have a set amount of money to make it every month.
• 13:15
  Develop a monthly budget that takes into account your income expenses and savings goals.
• 13:21
  The good news is this is a better money mindset than not having a budget at all.
• 13:28
  Number four, prioritize your expenses and focus on meeting your essential needs.
• 13:34
  First, such as food, housing, and utilities by prioritizing your expenses.
• 13:39
  You will know how much money you must have each month.
• 13:42
  This is one of the best ways to start with a positive money mindset.
• 13:47
  Number five, eliminate unnecessary expenses.
• 13:51
  Cut back on an unnecessary expenses, such as eating out or buying clothes that you don't need.
• 13:57
  When you budget your money.
• 13:59
  Management is different.
• 14:01
  It is little things like this that can help shift you to the right mindset and create a healthy financial journey.
• 14:09
  I invite you to download the virtue building process that goes along with this, because I have it on a private blog.
• 14:17
  And on that private blog, you can go there and access your weekly virtue and you will have a free download to help you track your progress on each virtue each week.
• 14:27
  And what Benjamin Franklin did was he was the one that originated this and he had all 12 virtues in his book that he wrote on.
• 14:36
  And each week he would come back and revisit that virtue.
• 14:39
  And revisit it and build upon it because it's kind of like reading a book that's really profound.
• 14:45
  You read it now and then you go back to it and you read it again.
• 14:49
  Three months later, a year later, 10 years later, and you learn something different every single time and it helps you improve and build on it.
• 14:58
  Remember the journey and the destination are one.
• 15:03
  Number six, avoid impulse purchases, avoid making impulse purchases and instead, wait a day or two to determine if the purchase is even truly necessary.
• 15:14
  This one falls into your time management too, just waiting a day or two can be a good rule of thumb.
• 15:21
  Number seven, use cash consider using cash for discretionary spending to help you stay within your budget.
• 15:28
  I have an account that is labeled my fun money.
• 15:31
  This account gets replenished every two weeks and when that fun money is gone, it just means I need to wait until that money is refreshed.
• 15:40
  And I have found that I actually have more extra money by doing this.
• 15:47
  Consider alternatives to credit cards consider using a debit card or cash instead of credit cards to avoid accruing debt.
• 15:55
  This one step is similar to the previous step and credit card.
• 16:00
  Debt is definitely a way to get into some financial trouble.
• 16:04
  Well credit card usage has its place in getting a good credit score.
• 16:08
  It is important to have a spending plan when it comes to credit card usage.
• 16:13
  Number nine, plan for unexpected expenses set aside money each month for unexpected expenses, such as car repairs or medical bills.
• 16:22
  I think it goes without saying when we are talking about a budget, but it is wise to have a special savings account for an emergency fund.
• 16:31
  Regularly review and adjust your budget.
• 16:34
  Review your budget regularly and make adjustments as necessary to ensure you're on track to meet your financial goals.
• 16:42
  It can help to meet with a personal finance expert.
• 16:45
  On our financial security and our financial stability.
• 16:50
  My friend, Natalie Kime with Wealth Wave.
• 16:52
  I will have a link to her in the show notes and description can be a very great resource for this.
• 16:58
  I guess what her budgeting service is completely free and can be just the thing you need to help you look at your budget of money in a brand new way.
• 17:09
  Trust me, she'll shift your mindset.
• 17:12
  In conclusion, having a growth mindset when it comes to budgeting time and money is essential for personal and professional success.
• 17:20
  It allows us to view time and money and as resources that can be cultivated and improved upon rather than limitations that hold us back.
• 17:29
  With the growth mindset we can continuously improve our time management skills and financial literacy embrace failure as an opportunity to learn and grow and achieve our goals.
• 17:41
  Thank you for spending part of your day with me, I trust that you found this helpful.
• 17:46
  If you know, someone who can benefit from this, please share it with them.
• 17:49
  And until next time I will see you next time.
• 17:53
  Peace out and Namaste.