Successful plans are always due to the adoption of well organized system. From a daily routine life to a company’s routine of work proper management of time and money is essential. For instance a rational person cannot consume more money and time for the attainment of all the luxuries. If he/she does so then there will be no resource left for the necessities or vice versa. Similarly in the era of business civilization management of time and money plays a mighty role for the business to get flourish.
Time manager and money manager are the traits of a leader. A leader plays a vital role for the success of a company. A leader is an emotionally intelligent person, an effective time manger and an effective money manager.
Time and money management follows everything. For a successful business trip for instance, businessmen needs effective airport car parking under which the time must be managed due to the attainment of services like valet parking etc, and moreover the services must incorporate the management of money. Right and manageable money must be spent in order to save more and avail height.
Furthermore there are many tips for managing time and money, management of time includes:
- Prioritization of work.
- Devoting appropriate time for a particular task.
- Availing time to relax.
- Setting time for everything.
- Not always saying yes to everything during the scheduled time.
- Set daily schedule.
- Avoid mixing of work and home life.
- Minimizing the cause of interruptions.
- Acting upon the role of schedule.
- Distributing the task.
- Avoid excess time spending on unnecessary areas.
- Avoid the eleventh hour approach, meaning avoid any delay of work.
And, tips undertaking the management of money; includes:
- Effective saving for the precautionary use.
- Managed transaction and speculative purpose amount.
- Increasing the money for the future use.
- Precautionary saving must be maximized or increased.
- Setting the budget realistically.
- Forecasting the proforma statements quite effectively and vitally.
- Be prudent by valuation of your money.
- Carefulness with all type of paper work.
- Controlled liability must be taken.
- Debt must be paid off as early as possible.
- Risk of the business must be minimized.