It’s something that we all ponder from time to time. How can we make more money in less time? Perhaps with that new-found time, we can use it for our favorite hobby or to spend time with family and friends. The fact is, we can indeed make more money in less time if we prioritize our daily habits and actions to reach that goal. Here are five tips to help you do just that.
Target the Big Projects
How much time do you waste on menial tasks that bring in little cash, but take up a lot of time? If you analyze your daily habits, you might find that you’re wasting valuable time on small things, preventing you from allotting time to bigger, more profitable projects. Start your day by tackling the big, money-making projects instead.
For example, this could be an important assignment from your boss at work (which if you do a good job on, you might get a raise or even more money-making assignments) or conceptualizing a new project that could fork in extra dough if you work for yourself. Another example, if paying a few dollars to pick up your groceries saves you an hour of shopping time, you can use that extra hour to make money on extra projects or side hustles.
Prioritize and Categorize Your To-do List Items
To-do lists can confuse our brains. Not everything on the list deserves equal importance. While ticking things off a list might feel productive, it could actually be a destructive habit. Have a to-do list, but also a money-making task list. Target the latter one first. This is where you can get the ball rolling on those cash cow ideas first. Once you have the important stuff out of the way, then you can focus on smaller projects that don’t bring in much cash. You can also prioritize your to-do list with a color or numerical system, to see at a glance, which tasks will provide the greatest reward.
Avoid Low-yield Jobs
Pass up on the “low hanging fruit”-type jobs that may not yield a big payout and reach for the higher-paying work that can fill your bank account faster, even if it takes a bit more time in the beginning to get started. If this means letting go of lesser-paying work to make time for higher-paying jobs, then you might have to make that sacrifice. In the long run, you’ll be richer and more productive in less time.
Delegate, Delegate, Delegate
Instead of handling all your tasks yourself, outsource some of them to an assistant. This can help you have more time to focus on the big projects. Even if you have to pay an assistant to handle some things on your to-do list, the time savings can translate to bigger paychecks. If you have a family member or spouse that can take on some of these tasks for free, that’s even better. For example, a spouse can just as easily pay the bills or pick up the laundry, to free up your time to focus on money-making productivity.
Consider hiring an intern (who might work for free or a small paycheck) who wants to gain real-world work experience in exchange. Eliminate unnecessary meetings that eat up a lot of time, and switch to using email to communicate or apps like Slack.
Use Time-saving Apps and Auto-pay
Save time by setting up automatic payments for bills, using apps for time-consuming things like grocery shopping and cooking and freezing multiple meals at once to use later. You can also use apps that combine tasks. Don’t bother with a myriad of various coupon apps and cashback programs when you can use one easy receipt scanning app like Fetch, for your shopping needs. The more tasks you can delegate and automate, the more time you can save; which will help you have the time to focus on the most efficient and effective money-making projects.
Make Money While you Sleep
Consider taking time to set up things that will help you make money while you sleep. This includes selling products on eBay or Etsy. When you wake up, you’ll have orders to fulfill, which you can handle yourself or have an intern or assistant handle. While it might take some time to set up an online store, once you have it up and running, you can start brining in cash simultaneously, while you do another job.
Another option is investing money in the stock market. This might require some expert advice from an investment broker, and it involves quite a bit of risk, but could help you make money while you sleep. Investing in real estate can also be a good way to generate passive income; just be sure you understand the markets. The more streams of passive income you can create, the more money you can make, in less time.
Improve Your Skills and Business Acumen
No matter your profession, there are advisors, consultants, help books, and podcasts that can help you improve what you do. The better you are at your job, the more money you can make. Whether it is becoming more efficient in your daily tasks or learning new ways of doing things in less time, self-improvement is a wise move for everyone. There is always something new to learn. Websites like Udemy and Hubspot offer a variety of paid and free courses to improve your skills.
When choosing a mentor, keep in mind the cost that some of them charge. Instead, look for free resources online like social media groups discussing a similar profession or get-togethers in your area where you can exchange ideas. You never know what good tips you’ll pick up.
Choose Where You Live Wisely
Living and working in high-cost cities can eat into your budget. Large cities like London, New York and Seattle can be exciting, and many jobs require people to be based there. But, if you’re looking to make more money in less time, find ways to cut down on mortgage, rent checks, car payments and even public transit bills. That might mean living in a suburb or moving to a more affordable city altogether. The less you spend, the more you keep in your pocket.
Plus, sitting in traffic for an hour to and from work is stealing away valuable time that you could be using to make money by setting up an online store or making sound investments in the stock market. If you must commute to work, use the time to improve your skills by listening to self-help or business skills podcasts or programs. In the long run, small adjustments to your daily habits can help you make more money in less time.
More Ways to Make Money
Make Money with Fetch
And, as always, you can use Fetch to earn free gift cards by snapping receipts. It’s free and easy, so there’s no good reason to not do it if you want to save on your purchases. Click the links or scan the QR code below to download it and get started.