Entry 12:Financial management & time management.

• I posses 2 main non-renewable resources. 1st, money and 2nd, time. In order to achieve my dreams, I need to achieve my objectives first. And to arrive there, an efficient and effective systems need to be implement in managing  my scarce resources. Thus, financial management + time management = resources management.

• Financial management, in my own definition is a way to manage my money. Personal finance, in my own definition is how, why and what I do with my money to obtain my lifestyles. Professional finance, in my own definition, is how, why and what I do with my money to increases my lifestyles standard. Personal finance + professional finance = financial management.

• Time management, in my own definition is a way to manage my time. Why and how I plan my 24hours a day, 7days a week, month, years and decades. Personal time, in my own definition, is how, why and what I do with my time with families and myself. Professional time, in my own definition, is how, why and what I do with my time with friends and other people than families and myself. Personal time + professional time = time management.

• These two systems will be implement in phases and cycles, in their own time frame. Both still in initial phases, and will share the same time frame, two weeks.
  • Planning – have everything on paper
  • Implementation – applying strict self-disciplined
  • Monitoring – recheck everyday, log everything
  • Improving – change accordingly

• In financial management, both personal and professional will get RM200 budget each week for each. With total combine budget for March is RM1,600. But from that budget also, I’m going to put a side 10% as saving. Meaning, RM80 for each budget in March. Why; to become successful in live, it’s crucial that I adopt a dynamic self-discipline. By abide to the system, it will be easier for me to advise and plan my client finance as I’m already practicing it.

• In time management, I’ll applying the slot system. Which is, each day is been split to 24 according to hour. I have 24 slots each day with 168 slots or hours. The category for the slot, among but not limited to is insurance, housekeeping, life maintenance and relationship. The time spend will be in tandem with the weekly objectives. Start of the day will be 12am and of the day will be 12am the other day. Why; in getting things done, I know what I’m suppose to do to have a successful life, but I lack the execution part. Having a systems will eventually get things moving.

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