Money Skill #43: Time is money; spend it well

"You may ask me for anything you like except time." -- Napoleon

"The way to wealth, if you desire it, is as plain as the way to market. It depends chiefly on two words, industry and frugality; that is waste neither time nor money, but make the best use of both." -- Benjamin Franklin

"For me, it's not about the money. It's all about lifestyle. For example, my commute time from my bed in the morning to my office is 26 seconds (I know because I just timed it). This saves me an hour in commute time. That's an extra hour I can spend with my family. That's something you can't put a price tag on." -- Robert G.Allen

A few weeks ago, I joined the DHS Club as a free member. I was interested in this program because they seem to have a superb recruiting system and a good compensation plan. But when I examined what kind of earnings I could expect, I decided to pass. The potential earnings just wouldn't justify the time I would have to spend. Their "VIP" agreement also has a non-compete clause. If I could have access to my downline and promote other programs to them, DHS might be worthwhile. (In any case, any program where people pay an amount like $25 a month, and your earnings basically depend on recruiting many people paying $25 a month, isn't very likely to work well for most people. After a few months, many people usually drop out.)

When you spend time on something, you're also spending your life energy -- Money Skill #4. You want to spend it as productively as you can. As your bankroll grows, you should increase the amount you earn per hour spent on money programs and investments. My current threshold is about $500 an hour.