Prioritizing needs and wants is a tale as old as time, but for investors who are accustomed to keeping a close eye on their assets' performance, balancing one's "to do" list with one's "want to do" list may be tricky. Below, we discuss three time management tips investors may employ to free up some extra time for what matters most.
Why Time Management Matters
Adopting time management skills may do two things. First, it may allow you to become more efficient, letting you accomplish more tasks in the same amount of time. But for many, doing more may not be a key part of the equation. For these people, time management may allow them to do the same tasks in far less time—freeing up time for other pursuits.
Whatever your goals, time management helps you streamline and prioritize tasks to make every minute count.
It may be far more time-consuming to teach others to do certain tasks than to simply do them yourself. But as your to-do list grows longer, delegation often becomes necessary. By assigning certain tasks to others—whether a tricky work report or a weekly grocery delivery—you may be able to put more time and energy into the tasks that are tough or impossible to delegate.
If you find much of your working time is spent on the same tasks, it may be worth investigating ways to automate them. You may be able to write a simple algorithm or macro that reduces the time spent on these items. Setting up calendar reminders or scheduling weekly meetings with your team may also help reduce your mental load while ensuring that nothing falls between the cracks.
When there are multiple projects and tasks competing for your attention, it may be tempting to put out the fires first—but often, doing this means that the plan for your day goes by the wayside. You're then forced to put today's tasks off until tomorrow, setting you further back on tomorrow's to-do list. Instead, by designating certain times of day for certain tasks, you'll be better able to optimize your time and prioritize what needs to be accomplished.
At the same time, don't let yourself become overly controlled by a rigid to-do list. If a last-minute emergency pops up, it may be counterproductive to let it fester while you work your way through less time-sensitive tasks. Above all, flexibility—albeit structured flexibility—may be one of the keys to more efficient time management.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
This article was prepared by WriterAccess.
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