I remember how intrigued I was when years ago, and long before I had heard of time management, I recognised the link between time and money, realising that we say that we ‘spend’ or ‘invest’ both time and money, and also talk about ‘saving’ time and money.

Moreover we usually find that in order to save time, we have to spend money, and vice versa. For example, to save time cooking, we might buy ready- prepared food. Our decision depends on our circumstances and priorities – someone else might well prefer to save some money and spend more time preparing and cooking a meal.

We make these choices all the time and often have no objective yardstick to show us how effective they are – unless our choices are so extreme that eventually we are totally overloaded with commitments, or on the other hand we run out of money! Constantly trying to keep a balance between spending and saving time and money demands a willingness to keep checking priorities.

This is particularly true of self-employed people starting or growing a business. It can be tempting to try and keep all costs as low as possible and do everything yourself. But this can be counter-productive when you realise just how many activities business start-up and business growth entail.

You need to think carefully about money and time management. If you can pay a specialist to do a job and thus free yourself up to do something else, that may be the better solution. Our investments in both time and money will ultimately pay off in the success of our business and the happiness of our lives. It makes sense to think carefully about the balance.

Andy Britnell's training and coaching products maximise the potential of your staff and cut out the unnecessary costs incurred by low morale, high turnover and repeated recruitment.

Visit his training website at http://andybritnell.co.uk/ and his coaching website at http://executive-coaching-for-business-growth.com/ for information on his powerful products and to subscribe to his FREE monthly newsletter and FREE email coaching.

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• To Do or Not To Do - That is the Question!


• The 3 Ps: Perfectionism, Procrastination, and Paralysis


• Action Plan In Time Management


• Take Control Of Your Life By Taking Control Of Your Time


• Balance: Time for Money


• Too Many Things to do and not Enough Time? Mind Mapping to the Rescue


• Slowing Down Time: Using Daily Themes to Stay in the Present


• Time: Do You Spend or Invest It?


• The Golden Hour