Money and Time Management

One of my earlier post, I said that Time is Money, which proves that we need to invest to fight inflation.  I attended a seminar where I learned about the relationship of money and time management. It suffices to say that when you have money, you can manage your time effectively.

In our discussion, there are 4 types of persons with respect to money and time management. These are people with:


No Money and No Time. Oh, these are the worst people I guess. These are people who don’t have time because they work and work for money but still end up broke and no money. They will be in the rat race forever. They won’t be able to escape it. They will work for the rest of their lives. They work hard, earn money, but uses the same money to spend. It’s like a prisoner in hell bound to work as slaves forever until they die.

No Money but with time. These are the people who are bound to work hard in order to sustain their living. People with time but no money will end up working for the rest of their lives unless they learn how to save money and manage their finances systematically. Time is the essence here since as time passes, we are getting older and as we get older, the more prone our body to health problems.

Money but No Time. These are hard working people. They devote the rest of their lives working working and even working hard. In effect, they really have money but they don’t have enough time for leisure, for their family and friends. All they know is to work hard for money. They don’t know how money works for them. All they know is active income and not passive income. Because of lack of financial education on investing, they will end up harrassed and burnt out from their work which, if not handled correctly, can even turn to various health problems or worst going to suicide because of the burden.

Money and Time. In contrast to the first, these are considered “wealthy” and financially freed. They can work whenever they want. They can wake up whatever time they want. They have enough assets that provide them passive income to sustain their living. They let their money work for them. And because of their financial education, they have managed to control their time according to their will. They can devote more of their time to the things that they enjoy.

So among these types of persons, which among them will you choose? I bet all of you will answer the last one, that is, a person with time and money. That is the very essence of financial freedom.

It’s your choice. Are you contented with your present state?

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Tyrone is a passionate financial literacy advocate. He started this blog on November 2008 when he watched The Secret which talked about Law of Attraction because he wanted to become a millionaire and wanted to know how a millionaire acts. At the age of 26, he achieved his first million. To find out more about him, click here or follow him at Instagram

12 responses on “Money and Time Management

  1. I always used to read your blogs since the first day I found it. Now, reading it is now included to my daily routine.. Thanks for sharing your informative ideas.

    But I have a question, and I’ll take this opportunity to ask you, what would you suggest for an ofw (like me) the best long term investment (like 2-3 yrs). FYI, I never tried to invest in mutual / UITF or stock? Any suggestion? Thanks again…

  2. Hi dlanor, thanks a lot for being an avid reader of my blog. I had an article on “where to invest extra cash” here. Just look at the “best articles” on the second column. With regards to your query, it’s all dependent on you. You have to examine first yourself on risk and liquidity. Bear in mind that the higher the return, the higher the risk.

    With your case, long-term investment, means that you don’t need that money for now. So your liquidity needs are not that urgent.

    We all fear of losing money when we invest. In order to combat this fear, we must then know the types of investment that we are getting ourselves into and we could achieve that by educating ourselves. That’s the very essence of what kiyosaki said “Investing is not risky.”

    What I could suggest for you is if you have enough time, you could establish a business that you could do part time while working. Look for some ideas on “entrepreneurship” topic of this blog. Or probably real estate that has passive rental income from its tenants. A good example of it is a condo in a very very good location. From my stats, I knew that you are from Saudi Arabia. Just make sure you have your family or trusted friends to watch over the property and rental collection if you decided to invest in it.

    If you don’t have enough time, then I could suggest you to try studying mutual funds, UITFs, and stock market. I have some articles here regarding those investments. Just look on the topic “investments” Depending on your risk appetite, you could invest in a mutual fund or uitf that invests in bonds called bond fund to as risky as equity fund that invests in stocks.

    If you are ready and confident enough, you can also invest DIRECTLY in the stock market. Actually, with the current downturn of the economy because of the global financial crisis, this is one of the best types of investments as of now since the stock market is battered by investor’s fear and sentiments. With your time frame of 2-3 years, by that time, I am quite confident that the stock market has appreciated its value from its current state. Aside from the appreciation of the stock value itself which you can sell higher later, you can also receive passive income from its dividends.

    I could help you in these types of investments if you have further questions.

    Again, thanks a lot for being an avid reader of my blog. By the way, I don’t claim myself as financial guru or expert. I’m just sharing what I’ve been learning in my quest towards financial freedom. Hope this blog helps a lot of people with regards to financial education. 🙂

  3. Hey, thanks for your immediate response. I just posted it yesterday afternoon and I got an answer from you the next morning, c”,).
    You’re right, I’m from Saudi Arabia. Actually, I read all your articles already and shared it to all of my friends (even without asking your permission)… hehehe… And that’s the reason behind my desires to invest in stocks/bonds despite of economic crisis at the present. And as I am not familiar with the stocks (even though I read your “how stock market works” and please forgive my ignorance (>_<) ) or in other words, I might need your advise.
    Real estate (like apartment / condos)? I thought of that before but because of large capital needed to start such investment, and long years of ROI, I marked it off on my plan… Business (I planned for a water refilling station)? It was included also on my plan, but when I applied to PNB for a business loan (2006), sad to say that it was rejected.
    Hence, stock/bonds are my view of interest in the present as an alternative type of investment, coz I also believe and confident that everything will be backed to normal after 2-3 years. Anyhow, do you have any guidelines or more tips on how to invest in stocks? Do I have to go directly to PSE? Or to the banks? (sorry for my ignorance again).
    Even you’re not considering yourself as financial guru or whatever, you’re still helping others (including myself) to be a financial freedom person soon.
    Keep it up!

  4. Thanks sharing with very informative idea. I choose for the last option in future. Freedom is dream for everyone. But must be work harder to get the last option.

  5. Hi dlanor, I’m not sure but I can even guess that you might be working at Saudi Hollandi Bank in Riyadh, Saudi Arabia? Hehehe… My stats are quite accurate.

    Anyway, with regards to your query, you must get a stock broker first. You will open a stock trading account with them. You can either trade online or offline.

    When trading offline, you will call your stock broker if you want to buy stocks. You will tell them what stocks and how many of them will you buy and at what price. All these can be done either thru email or phone. And the stock trader will do the trading for you.

    When trading online, you will be in full control of your buying and selling of stocks. You will be the one to post your orders at any time you want. You can watch the value of stocks at any time and can take advantage to post a buy order if you see the stock prices going down at any particular time or post a sell order if you see the stock prices going up. Take note though that trading online requires some of your time as you need to monitor the movement of stock prices.

    I advise you to do the online one for you to better grasp the concepts of stock trading. As Kiyosaki says in the cone of learning, “doing the actual thing” is the best way of learning things. But if you don’t have enough time, then you can probably let the stock traders do the trading for you offline.

    I will post here soon some stock trading tips that I learned. Thanks again for being an avid reader of my blog.

    By the way, I use BPI Trade as my online stock broker where I trade my stocks since I can easily transfer funds from my BPI Savings Account online.

  6. Nice post you have there. It’s great to know the different types person with money and time. Currently, we are at the risky time of investment. Worldwide economy has slowed down. Even industries not affected by the current crisis slowed down.

    For dlanor, I know what you desire being an OFW myself. We know we wont last long wherever we are stationed now and we must have some fallback when we get back. My advise for you is use the time to educate yourself on business methods and strategies. You may not use it now but it will certainly be useful someday.

  7. All of us love to be wealthy,but it’s always a difference between who are wishing and working ,and who are just keep wishing.getting money starts by being responsible ,of your time, your responsibilities within work ,society and family.

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