What is the Time Management for financial Success?

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Introduction  –

The time management for financial success, clear goals, prioritize task, avoid distractions, allocate time for budgeting & financial planning. If a person’s age is considered to be 100 years, then there are 36500 days available in our life, in that too there is such a time in our life which we cannot avoid. But of which we have to give at least 40% time to sleep and eat in our life. When we are talking about time management, it does not mean that it is only a thing to do at the corporate level, we can also do it at the individual level.

It is said about time management that the more a person understands the value of time, the more he becomes successful in his life. Generally, we see that most of the people in the society waste their time for things like entertainment. It is not that time should not be given for entertainment, but we have to understand how much priority should be given to everything.

Management is a very broad subject, but time management is a very important subject to be successful in our life, for which we will try to understand what is necessary and what is time management in reality. Time management is very important in our success and failure, that is why it is said that “time is money” but in reality we can earn money anytime but we never get the time spent.

MEANING OF TIME MANAGEMENTWhat is Time Management ?

In life, all people get equal 24 hours in a day, but why it happens that some people are more successful than each other and, an important reason for this is “time management”. Planning of time in the right way is your important in increasing the value. Time management means to organize and plan your time, in this, your time has to be divided according to priority in a planned way.

By which planning our time properly and achieving maximum results, which we call success, that success can be in financial form and it can also happen in mental form. Most of the people do not understand the value of their time and do not divide the time with priority. So that they waste their time for other less important work by not giving that time to the work for which they have to devote more time.

Why is the management of time so important in our life, it is known to successful people, they value their every minute and every day with their money. But those who do not understand the importance of time, they understand the value of time, but in reality its They are not able to imitate, so they live an average life. Can you say that why is the remaining time necessary for us? The answer is that the things that are urgent for us are examples of wrong time management.

Skills of Time Management –

In today’s era, we use time management only commercially or we can say that the importance of time management is known to the right class of the company. Time management can be used by anyone in life, just we have to develop any habit with discipline.

This skill is taught in vocational curriculum, but generally this skill is not developed in all people and no one understands the importance of vocational training for this. In today’s information and technology era, you can adopt this skill through the Internet, but the most important thing in this is to simulate it in reality, which is very difficult.

To develop time management skills, it is the purpose of time management to set objectives, plan, prioritize and make such a system a reality. The one who understands how to use our time properly, only those who are successful in life.

Importance of Time Management –

Talking about the Italian philosopher Pareto’s principle, in general, 80% of our time should be used for 20% of the things which are first in priority and 80% of the time should be given to such tasks which are not so important in priority. Therefore, according to Pareto’s principle, we have to identify such things which can make you successful in priority and as a result, spend more time on such things.

Our problem is that we understand the importance of time but we do not understand how to plan it and to bring the time management into reality. We need discipline which is lack of in many people of the society. We see that the people waste a lot of their time in such things which are not so important for their development.

We see in India, people understand the importance of time, but understand the importance of their own time, they do not value others’ time. So the culture of time management is not established in India like a country like Japan. We have to understand that nothing in the world is more valuable than money, but we value money more than time. We work in any company, it means that we sell our time to that company and get salary in return.

Time Management & Objectives  –

It is very important to set objectives for time management because without a purpose, time management does not work, so whether you are setting objectives at an individual level or setting objectives for an organization, it has to be kept in mind that your objectives We have to plan like a ladder in which our main objective and small goals have to be set.

By setting the objective for time management, we can imagine how that task will be after completion. By setting the time limit, we can complete that target before time according to Parkinson’s law. Otherwise, we can according to the availability of time. They keep on wasting time by doing our work.

Our success is determined on the reality of our objective, so those objectives which can come into reality, should set the same objective and to accomplish the main objective, divide the time by making small steps step by step. Use it for these purposes on priority. For this we have to study on the reality of these objectives while planning first, otherwise wrong objectives can waste your time.

Concentration & Time Management  –

After setting the objective in time management, it is necessary for us to have discipline to fulfill that objective so that we can try to complete any task with concentration. Because most of the times our nature avoids to do any work, this habit is found in most people, in which man will do every important work later, from this point of view. We have to change this mindset with priority basis time management..

Therefore, concentration is necessary to do any work. Many activities go on in our life, due to which many thoughts come in front of us. Due to which the thoughts of changing our purpose keep coming in our mind or our environment keeps disturbing our thoughts. So we should concentrate on our purpose and time management. Working is what leads us to success.

Meetings & Time Management –

In the corporate sector, we have to devote a lot of time for meetings, in which a lot of time happens that we are not able to save and wasted. In which many times all the topics that have been set for the meeting, time goes on other things other than the subject. Hey, which most of the companies are not able to see and this process continues like this. When we meet someone at a personal level, then both have to understand the value of each other’s time, but in reality this does not happen.

One has to wait for a long time, which is very common in India. Our mentality is that the one who needs the most or the one who benefits the most from this meeting will have to sacrifice his/her time. Such things have no place in time management and it spoils your reputation. In reality, those who are successful know to respect the time of others.

After fixing the time limit in the corporate sector, if a member is not available on time, then he should not stop for it, Otherwise it becomes a rule in the next meeting, so after following the rules, discipline in the initial meetings, such late from the next meeting The visiting members will understand the importance of being on time. And the topics which have been fixed for discussion in the meeting should be discussed.

Parkinson’s Law of Time Management –

Parkinson’s law says that the harder you do a work, the better its result, he denies it, he believes that the more time we take to do any work, the more we pull that work according to time. . For this, we can see the example of an athlete, in which the record that is made is a mental level where we decide that no one can win this competition in a better time than this.

We give one hour time to do any work, then you complete that work in one hour, if we give three months time to do the same work. Then we complicate it unnecessarily. The purpose of keeping this principle was Parkinson’s that how to set the right time limit to complete any work and how to complete a task at full capacity.

In a company, say personally or at the corporate level, we see that many tasks have to be done, for which there is no such rule or guidance that which work should be completed in how much time. Therefore, all the people or companies decide on the basis of their own knowledge to complete any task according to them. On which the success of the company or the success of an individual is determined, which is a very difficult task, so Parkinson’s law guides it.

Principles of Time Management –

  • Priority / Prioritization ( using list )
  • Scheduling
  • Goal Setting
  • Concentration & Focus
  • Time Management in Practice

Time management is completely based on the above principles in time management, in which it is necessary to make a priority list to do any work in time management, otherwise we do not have time for the necessary tasks by working on the work which is not important. Will give Therefore, the work which is most important to us should be taken first in priority.

By scheduling any task in the time limit, we can complete any task under the rule of time management, with this purpose has to be set, in which small objectives have to be set along with the main objective. To complete this task successfully, it is necessary to have concentration and focus, which is a very important component in time management.

To bring any work in the direct form of the above principles in time management, it is necessary to take action on it, so that the time limit which we have fixed to do any work, is to be completed before that time limit. We have a goal.

Features of Time Management –

  • Setting your objective in time management is considered to be the most important component, you can do this at the individual level and also at the corporate level.
  • By dividing the time, we can manage the time to do some purpose for which it is necessary to make a list of priority on paper.
  • In time management, the tasks have to be divided at different levels without relying on any one person, so that any work has to be completed before the time limit.
  • Due to time management, it is easy to complete any task successfully and it has been proven by the amendment.
  • Time Management This is an important component of money for a human being because money can be earned at any time, but once the time is gone, it is not possible to get it back.
  • Those who are successful understand the importance of time management, those who do not understand the importance of time management lead a simple life.
  • Time management is of great importance in developed countries, but in India we have to understand its importance because we give most of our time in such work in which there is no productivity eg entertainment.

Conclusion –

In this way, we have tried to understand the importance about time management, it is not that we do not know about this subject or we do not understand what are its benefits. But as we know about health, our bad habits can spoil our health, yet we do not pay attention to it, in the same way we can get success by doing time management, but it is very difficult to bring it into reality.

Those who understand the value of time, they plan the time of their whole life, so that we can determine how much time we should give for our family, how much time we should give for business. The time that we save through time management, we can use it for our personal development and for our own development, we can do additional planning.

By studying successful people, it has been proved that the more successful you are, the more you understand the value of time. Those who do not understand the value of time, those people waste time throughout their life and put their life in more trouble. Therefore, you can present winning information about time management by making amendments in front of you, that we have tried here.

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