What are Time Asset and Time Debt? Why is it beneficial to know about it?
James Clear presents a very interesting concept; similar to the definitions of Asset and Debt, Time Asset is time saved in the future due to a decision or action you made today and Time Debt is time lost that will make you keep going back to try to get more of. Well, instant gratification is always enticing but sometimes we get blinded by the face value of things and laziness plays a part in it too.
With everyone’s busy and hectic schedule, who doesn’t wish for more than 24 hours each day? Every action or decision we make today will affect how our lives will be in the future. Building Time Assets are definitely better than racking up Time Debts although there could be some Time Debts worth collecting for. i.e; Writing an email chain that makes you spend time crafting back and forth responses to someone you fancy or a client that will bring you a big business.
Accumulating Time Assets require a good deal of time commitment for one to look at the bigger picture and strategize on how to save more time. Spending an hour coming up with a solution might just save you 10 to 30 minutes each day which will last for your entire lifetime. Can you imagine how much time you’ll save and what you could be using those time each day to do something you like?
The ability to prioritize what needs to be accomplished is essential to having better time management. Being lazy or paranoid to make the first step is detrimental. Akin to how the common saying goes, for every minute that you are angry, you lose 60 seconds of happiness. In this case, for every minute you procrastinate or do not take time to strategize, you lose 60 seconds of time to work on other stuffs. It is amazing how patience and the effort to take a step back can create such a significant difference in your life.
If you’re interested to read greater insights on Time Assets and Time Debts, here is the link: http://elitedaily.com/money/time-asset-vs-time-debt-different-way-think-productivity/872478/.