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Increasing your productivity may be the key to your financial success. Why?
The two main ways to improve your financial situation are to increase your income or cut your expenses. But time is a crucial component that is commonly overlooked.
You cannot take on extra work in the form of a side project or weekend gig if you already have too much work on your plate from other obligations.
Fortunately, a few simple productivity tricks can free up to ten hours every week. You may use that extra time to focus on developing better financial habits or raising your income. With the following six suggestions, you can work more efficiently rather than harder:
1. Streamline repetitive tasks with automation.
Why take the time to complete tasks by hand when they can be automated? Investing is one example. Put an end to the hours-long process of deciding when and where to invest by using automated platforms such as Bondora.
- Establish reasonable priorities
Use task management software to create a weekly to-do list (Asana is our recommendation). Next, group your assignments by importance. Start with the most crucial activities first because you can prioritize them by marking them using most productivity tools.
- Eliminate all distractions
Distractions like social media notifications and chat messages can seriously interfere with your workflow. To lessen these interruptions, switch off your phone or use apps like Freedom or Cold Turkey Blocker to temporarily limit social media access while working.
4. Apply time-management techniques
If large projects are broken down into smaller, more manageable tasks, they can be completed more successfully. Long-term assignments might make it difficult to know where to start. Using applications like Pomofocus, which uses the Pomodoro Technique (25 minutes of focused work followed by a 5-minute break), can help you stay on task.
- Use the 80/20 rule
The Pareto Principle, sometimes known as the 80/20 rule, states that you should only put in 20% of the work to get 80% of the outcomes. To put this into practice, identify the tasks that produce the best results and focus on scaling those. The other 80% won’t likely assist you in reaching your goals, so pay them less attention.6. Make conscious pauses
It’s not a waste of time to take pauses because they allow your mind to clear and refresh. You can finish tasks faster if you have improved concentration and creative thinking skills. Just be careful not to waste your break idly scrolling through social media; instead, pick a distraction-free area to take a brief mental break.
Reduce Work, Gain More, and Achieve Success
Reaching your financial independence or investment goals doesn’t have to mean burning yourself out. Focus on enhancing efficiency and removing time-consuming chores instead of putting in extra effort.
By using these strategies, you might find that you have more free time than you had planned. Utilize that time wisely to achieve any desired financial gains.
