Terri's Tuesday Tip of the Week - July 13th

 I can't understand why people are frightened of new ideas. I'm frightened of the old ones. - John Cage

 Life is full of risks anyway; why not take them? - Lindsay Lohan

How much is the reader’s time worth?  As the author contemplated the time value of money, she searched the web and found a calculator that took many different factors into account.  However for this scenario, let’s make it simple.  Take the reader’s current salary and divide by 52 weeks and then divide by 40.  This will give a rough estimate of how much the reader makes per hour.  Hold that dollar figure and we will get back to it!

Recently, the author’s coffee pot broke and she decided not to replace it.  Instead, the author took coffee filters and placed coffee grounds in it and then placed a rubber band around the coffee filter to close it.  For planning purposes, she did this in the evening and in the morning, she would place water and the coffee filter in her coffee carafe, heat it and let it “brew” while she worked out in the gym.  Returning from the gym, she would heat the coffee again in the microwave.  Ingenious way to make coffee; however, think about the steps and the time the author spent preparing the coffee.  Was this the best use of her time?  That was the question Mama Flow asked when she came to visit in July.  When the question was posed to the author, she analyzed her process.  Thinking about the various articles she had read by Rory Vaden and his principle of procrastinating on purpose, she determined it was not the best use of her time and took Mama Flow’s advice and purchased a new coffee maker. 

Why did the author talk about the time value of money and how she made coffee?  The author was spending her time with extra steps to make her coffee based on the process she developed instead of purchasing a new coffee maker.  The author took the estimated amount of money she makes per hour and multiplied it by the time she spent making coffee.  She soon realized it was more beneficial and cost effective to purchase a new coffee pot.  By making the decision to purchase a new coffee maker, she makes money by having that time to work on other tasks or studying to work towards accomplishing her dreams.  Additionally, the coffee taste better providing more enjoyment in life to the author!

Asking "Why?" can lead to understanding.  Asking "Why not?" can lead to breakthroughs. - Daniel H. Pink

 

ACTION:  Why do you do what you do?  Is it because it is the way you have always done it?  Is it to save money?  Take time this week to analyze everything to determine if the actions and processes you are using are beneficial and helping to move you closer to your dreams.  Darren Hardy discusses another story about “why” we do things in his podcast titled “This is the All Important Question” listed in the resources below.

 

Resources

This is the All Important Question - https://podcasts.apple.com/us/podcast/this-is-the-all-important-question/id1449270369?i=1000528218006

Clearer Thinking - https://www.clearerthinking.org/