Managing Time and Money Time Management is Not: n Restriction and control n Someone elses agenda.
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Transcript of Managing Time and Money Time Management is Not: n Restriction and control n Someone elses agenda.
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Managing Time and MoneyManaging Time and Money
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Time Management is Not:Time Management is Not:
Restriction and Restriction and controlcontrol
Someone else’s Someone else’s agendaagenda
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Time Management Is:Time Management Is:
Accomplishing your personal goalsAccomplishing your personal goals Having fun with your lifeHaving fun with your life Friends and familyFriends and family A successful careerA successful career
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What are your lifetime goals?What are your lifetime goals?
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Knowing your goals is the key Knowing your goals is the key to time management.to time management.
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Successful Goal SettingSuccessful Goal Setting Is it achievable?Is it achievable? Is it realistic?Is it realistic? Is it specific and measureable?Is it specific and measureable? Do you want to do it?Do you want to do it? Are you motivated to achieve it?Are you motivated to achieve it? Does the goal match your values?Does the goal match your values? What steps will you take to begin?What steps will you take to begin? When will you finish this goal?When will you finish this goal?
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Class Exercise:Class Exercise:My Lifetime Goals My Lifetime Goals
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Rules for BrainstormingRules for Brainstorming
Generate as many ideas as possibleGenerate as many ideas as possible No censorshipNo censorship Choose the best ideas laterChoose the best ideas later Set a time limitSet a time limit Establish a goal or quotaEstablish a goal or quota
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In 5 minutes, list your lifetime In 5 minutes, list your lifetime goals. Write anything that goals. Write anything that comes to mind. Can you list comes to mind. Can you list at least 10?at least 10?
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Look over your list and Look over your list and highlight or mark the most highlight or mark the most important goals.important goals.
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In 5 minutes, list what you would In 5 minutes, list what you would like to accomplish in the next 5 like to accomplish in the next 5 years. Include your educational years. Include your educational and career goals. See if you can and career goals. See if you can come up with 10 items.come up with 10 items.
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Again, highlight or mark your Again, highlight or mark your best answers.best answers.
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What goals would you like to What goals would you like to accomplish in the next year? accomplish in the next year? Consider these goals:Consider these goals:
EducationEducation WorkWork LeisureLeisure FamilyFamily SocialSocial
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Highlight your best ideas. Highlight your best ideas.
Share with the class one of Share with the class one of your most important ideas your most important ideas from this question. from this question.
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Assignment:Assignment:Finish My Lifetime GoalsFinish My Lifetime Goals
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What is the difference What is the difference between a goal and a between a goal and a fantasy?fantasy?
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Is this car a goal or a fantasy?Is this car a goal or a fantasy?
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A Goal RequiresA Goal Requires
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Turn Your Dreams Into RealityTurn Your Dreams Into Reality
Dream or visualizeDream or visualize Convert the dream into goalsConvert the dream into goals Convert your goals into tasksConvert your goals into tasks Convert your tasks into stepsConvert your tasks into steps Take your first step and then the nextTake your first step and then the next
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Activity: Make a quick list of Activity: Make a quick list of what you have done today what you have done today and what you plan to do until and what you plan to do until you go to bed tonight.you go to bed tonight.
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Priorities are the key to Priorities are the key to effective time management.effective time management.What are priorities?What are priorities?
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Prioritize your listPrioritize your listRelated to Lifetime Goals
Important--Have to Do
Could Postpone
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Beware: Beware: “C” Fever“C” Fever
The tendency to do “C” activities firstThe tendency to do “C” activities first They are easierThey are easier We can see the resultsWe can see the results Doesn’t take too much effort or Doesn’t take too much effort or
creativitycreativity Little thought requiredLittle thought required
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Work Your “A’s” OffWork Your “A’s” Off
Make sure to accomplish what is most Make sure to accomplish what is most importantimportant
Work toward your lifetime goalsWork toward your lifetime goals
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Balancing Work and Study Balancing Work and Study TimeTime You need 2 hours of study time for each You need 2 hours of study time for each
hour in class. hour in class. Research on college success has Research on college success has
shown that you should work no more shown that you should work no more than 20 hours a week to be successful than 20 hours a week to be successful in college. in college.
Working 20 hours a week provides Working 20 hours a week provides valuable work experience. valuable work experience.
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Full Time College ScheduleFull Time College Schedule
15 Hours Attending Class30 Hours in Reading and Studying45 Hours Total
This is like having a full time job.
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College and Work ScheduleCollege and Work Schedule
12 Hours Attending Class24 Hours of Reading and Studying20 Hours Work56 Hours Total
This is like having a full time joband a part time job.
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The Impossible ScheduleThe Impossible Schedule12 Hours Attending Class24 Hours Reading and Studying40 Hours Work76 Hours Total
This is like having two full time jobs!
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Part Time Student SchedulePart Time Student Schedule
6 Hours Attending Class12 Hours Reading and Studying40 Hours Work58 Hours Total
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Schedule Your SuccessSchedule Your Success
Create a Master ScheduleCreate a Master Schedule Class TimesClass Times Work TimeWork Time Scheduled ActivitiesScheduled Activities
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Tips for SchedulingTips for Scheduling Write in study times on your Master ScheduleWrite in study times on your Master Schedule Use the daylight hours for studyingUse the daylight hours for studying Use your prime time for important tasksUse your prime time for important tasks Allow time for sleep and mealsAllow time for sleep and meals Use prioritiesUse priorities Leave some unscheduled time for the Leave some unscheduled time for the
unexpectedunexpected Leave time for recreationLeave time for recreation
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Benefits of Using a ScheduleBenefits of Using a Schedule
Gets you startedGets you started Helps avoid procrastinationHelps avoid procrastination Relieves pressureRelieves pressure Frees the mind of detailsFrees the mind of details Helps find time to studyHelps find time to study Helps avoid panicHelps avoid panic Find time for recreation and exerciseFind time for recreation and exercise
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Types of SchedulesTypes of Schedules
WeeklyWeekly DailyDaily MonthlyMonthly YearlyYearly
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Dislike schedules?Dislike schedules?
Use a “To Do List” with prioritiesUse a “To Do List” with priorities Use a calendar to write important due Use a calendar to write important due
datesdates Lakein’s Question: What is the best use Lakein’s Question: What is the best use
of my time right now?of my time right now? Reminders and sticky notesReminders and sticky notes Other ideas?Other ideas?
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TO DO ListTO DO List 1. Batteries for watchB 2. Grocery storeA 3. Dr. appointment 4. Clean houseA 5. Dinner with familyB 6. Gas in carA 7. Prepare for class 8. Balance checkbook 9. Watch TV 10. Wash car
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Assignment:Assignment:
Monitor your time for a week. Monitor your time for a week. Turn it in next Tuesday along Turn it in next Tuesday along with analysis sheet. with analysis sheet.
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Part II: Managing Time and Part II: Managing Time and MoneyMoney
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RememberRememberTime Monitor and Time Monitor and Schedule Analysis Schedule Analysis Due next class meeting Due next class meeting
Start today if you haven’t Start today if you haven’t started already.started already.
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Time Management TricksTime Management Tricks
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Divide and ConquerDivide and Conquer
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Do the First Small StepDo the First Small Step
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80/20 Rule80/20 Rule
80% of the value comes from 20% of 80% of the value comes from 20% of the items on a listthe items on a list
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80/20 Examples80/20 Examples
We only wear 20% of our clothesWe only wear 20% of our clothes 80% of file usage is in 20% of files80% of file usage is in 20% of files 80% of dinners repeat 20% of recipes80% of dinners repeat 20% of recipes 80% of the dirt is on 20% of the floors80% of the dirt is on 20% of the floors Can you think of others?Can you think of others?
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Aim for Excellence,Aim for Excellence,Not PerfectionNot Perfection Is perfection necessary?Is perfection necessary? Maybe “it ain’t no piano”Maybe “it ain’t no piano”
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Make Learning FunMake Learning FunBy Finding a RewardBy Finding a Reward
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Just Take a BreakJust Take a Break
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Study in the LibraryStudy in the Library Everyone else is studying thereEveryone else is studying there It is difficult to do something else in the It is difficult to do something else in the
librarylibrary
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Learn to Just Say No Learn to Just Say No
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What are your time bandits?What are your time bandits?
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Dealing with Time BanditsDealing with Time Bandits
Schedule time for other peopleSchedule time for other people Use some of them as rewardsUse some of them as rewards Use prime time wiselyUse prime time wisely Remind yourself of your prioritiesRemind yourself of your priorities Use a scheduleUse a schedule What is the payoff? What is the payoff?
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How to Deal With People Who How to Deal With People Who Are Time BanditsAre Time Bandits
Communicate your goalsCommunicate your goals Spend quality timeSpend quality time ScheduleSchedule Keep your wordKeep your word Tell them they are importantTell them they are important Be assertive if necessaryBe assertive if necessary
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ThinkThinkPairPairShareShareHow can you avoid How can you avoid procrastination? For example, procrastination? For example, you have an assignment due and you have an assignment due and you are having a difficult time you are having a difficult time getting started. How do you getting started. How do you motivate yourself to get started?motivate yourself to get started?
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Dealing With ProcrastinationDealing With Procrastination
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Why Do We Procrastinate?Why Do We Procrastinate?
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Reasons for ProcrastinationReasons for Procrastination
Fear of failureFear of failure Fear of successFear of success PerfectionismPerfectionism Need for excitementNeed for excitement Excellence without effortExcellence without effort Loss of control Loss of control
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How can you avoid How can you avoid procrastination?procrastination?
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Avoiding ProcrastinationAvoiding Procrastination
Select a goalSelect a goal Visualize your progressVisualize your progress Be careful not to sabotage yourselfBe careful not to sabotage yourself Stick to a time limitStick to a time limit Don’t wait until you feel like itDon’t wait until you feel like it Follow throughFollow through Reward yourselfReward yourself
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Avoiding ProcrastinationAvoiding Procrastination
Re-evaluate your goals if you are Re-evaluate your goals if you are procrastinating. procrastinating.
Are they dreams or goals?Are they dreams or goals? Are your goals realistic?Are your goals realistic? Are your goals achievable?Are your goals achievable? And remember, you do not have to be And remember, you do not have to be
perfect. perfect.
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Managing Your MoneyManaging Your Money
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Challenge Question: To Challenge Question: To become a millionaire by age become a millionaire by age 68, how much would you need 68, how much would you need to save each month if you to save each month if you started saving at age 22? started saving at age 22? (Assuming a 10% return on (Assuming a 10% return on your investments?)your investments?)
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To Become a MillionaireTo Become a Millionaire
At age 22, save $87 per monthAt age 22, save $87 per month At age 26, save $130 per monthAt age 26, save $130 per month At age 30, save $194 per monthAt age 30, save $194 per month At age 35, save $324 per month At age 35, save $324 per month
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Save money to accomplish Save money to accomplish your goals.your goals.
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Here’s an example of one Here’s an example of one person who did it!person who did it!
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The Gift of ThriftThe Gift of Thrift
Amy Dacyczyn
Author ofTightwad Gazette
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Her GoalsHer Goals
•Lots of children•A large new England farm house•Stay at home with children•Live on one income
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Ways to Save MoneyWays to Save Money
Major grocery shopping once a monthMajor grocery shopping once a month Shop at garage sales for children’s Shop at garage sales for children’s
clothesclothes Cook at homeCook at home Has her own gardenHas her own garden
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With her husband’s salary of $30,000, she was able to save $49,000 for a down payment on a New England farmhouse pluspaid cash for $38,000 worth of car, appliance and furniturepurchases in about 7 years.
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She now published the She now published the Tightwad GazetteTightwad Gazette and earns and earns one million dollars a year at one million dollars a year at $12 per subscription!$12 per subscription!
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As a college student, how can As a college student, how can you spend your money wisely you spend your money wisely and begin a savings habit?and begin a savings habit?
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Group Exercise: Group Exercise: The College Student Tightwad The College Student Tightwad GazetteGazette
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Budgeting is the Key to Budgeting is the Key to Money Management.Money Management.
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Start with a Money Monitor.Start with a Money Monitor.
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Try it on your own!Try it on your own!Budgeting for CollegeBudgeting for College
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Need More Money?Need More Money?
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Apply for Financial AidApply for Financial Aid
LoansLoans GrantsGrants Work StudyWork Study
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The College Success Web The College Success Web site has links for getting site has links for getting information and applying for information and applying for Financial Aid online. Financial Aid online.
www.collegesuccess1.com
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Apply for a ScholarshipApply for a Scholarship
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How to Apply for a How to Apply for a ScholarshipScholarship Research Research
The College Success Web SiteThe College Success Web Site LibraryLibrary Scholarship OfficeScholarship Office
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How to Apply for a How to Apply for a ScholarshipScholarship Establish a scholarship fileEstablish a scholarship file
3 letters of recommendation3 letters of recommendation Statement of personal goalsStatement of personal goals Statement of financial needStatement of financial need Copies of your transcriptsCopies of your transcripts Copies of other scholarship Copies of other scholarship
applications applications
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Best Ideas for Financial SecurityBest Ideas for Financial Security
Use a budgetUse a budget Have a financial planHave a financial plan Save 10% of your incomeSave 10% of your income Don’t take on too much debt. Beware of Don’t take on too much debt. Beware of
credit cards.credit cards. Learn about investments.Learn about investments. Don’t procrastinate. The earlier you take Don’t procrastinate. The earlier you take
these steps the better. these steps the better.
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Keys to Success:Keys to Success:Do What Is Important FirstDo What Is Important First
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Put First Things First.Put First Things First. --Steven Covey --Steven CoveyAuthor of Author of Seven Habits of Seven Habits of Highly Effective PeopleHighly Effective People
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The trick is not to manage our The trick is not to manage our time or money, but to manage time or money, but to manage ourselves.ourselves.
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Willpower, restriction and self-Willpower, restriction and self-control may not work. control may not work.
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Manage YourselfManage Yourself
Know your valuesKnow your values Set goalsSet goals Visualize the actions you will takeVisualize the actions you will take Make decisions based on your valuesMake decisions based on your values