Money Rehab with Nicole Lapin - Get Time Back on Your Side Hustle

Episode Date: February 8, 2022

Studies have shown that having just one extra hour in a workday was worth $500 to most people, with some placing that number even higher. So what’s your time worth to you? If minutes are money, here are four ways you can spend your most valuable asset wisely. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

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Well, it doesn't. Charge for wasting our time. I will take a check. Like an old school check. You recognize her from anchoring on CNN, CNBC, and Bloomberg. The only financial expert you don't need a dictionary to understand. Nicole Lappin. I am not the only person who believes time is your most valuable asset.

In fact, most business-minded people rank time as their number one most valuable resource. Yes, ahead of their computer, their company's website, and even their physical office. Studies have shown that just one extra hour in a workday was worth 500 bucks to most people, with some placing that number even higher. So what's your time worth to you? If minutes are money, here are four ways you can spend your most valuable asset wisely. Number one, get an assistant, even if that assistant is you. Let's be honest, we all want an assistant. Back in the day when I couldn't afford one, I just made one up. Seriously, I did. I created an email address. It was assistant at NicoleLappin.com, and I used it to coordinate meetings and respond to press queries, thereby giving the perception that I was a much bigger

deal than I actually was. I have no shame in admitting that because the truth is a lot of us do some really wild things to fake it till we make it. Number two, cut the email addiction. Remember, connectivity and multitasking don't always equate to higher productivity. Resist the temptation to be hyper-plugged in. Instead, schedule specific times throughout the day to check email. I actually like to wait a good hour at the beginning of the workday before responding to any emails. Instead, I start my day with a handwritten list of what I want to achieve, along with a strong cup of coffee, of course, or two. Only after that list is made and the coffee is consumed do I check my email. And then I take a break from email again until lunchtime. I find this helps me focus on the task at hand instead of

getting sucked down an online K-hole. We've all been there, and it's like the online equivalent of going into Target for one box of tissues and then emerging hours later with a full cart of random stuff. Similarly, I keep my outgoing emails to a minimum by keeping a Google Doc open for each of my employees so that I can jot down notes and reminders throughout the day. Then I try my best to send them the whole shebang at the end of the day as a nice, organized list. I know my employees love to hear from me, duh. But let's be honest, it's not efficient for anyone for me to be just poking them throughout the day with one-off emails. So unless it's urgent, I add it to the master list

and then deliver it all at once so that we can all remain head down and focused throughout the day. Number three, embrace your social addiction responsibly. Many money experts will tell you to cut your Facebook, Twitter, or Instagram habit to get more done during the day. And you know I love me a good digital detox, but at the same time, I regularly find story ideas, project inspiration, and even potential partnerships by exploring my social media feeds. I mean, hello! Most of my episodes come from questions I get on Instagram, at Money Rehab Show, by the way. Used correctly, social media can be a huge asset to the business of you. But just like your email, schedule some time each day to update and scan your feeds.

Pick a time when you're typically lower energy. For example, I like to go through my social media from about 2 to 3 p.m. each day when I tend to be a little bit sleepy and less focused. My social media time provides a nice mental break so that I can power through the rest of my day. Number four. Schedule everything. My production company co-founder has a bum knee from running marathons and often needs to go to physical therapy. During those times, she has personal blocked out on her calendar so that no one can schedule meetings or

calls with her during that time. So if you have personal stuff you need to take care of during the workday, do it and schedule it. I, of course, trust her enough that she's So if you have personal stuff you need to take care of during the workday, do it and schedule it. I, of course, trust her enough that she's not going to use that time to go shopping or fuck around. Plus, I need my people healthy, happy, and firing on all cylinders. For today's tip, you can take straight to the bank. Don't give your time away for free. I'm guessing nine times out of 10, you wouldn't give your hard-e give your time away for free. I'm guessing nine times out of 10, you wouldn't give your hard-earned money away for free if someone asked you to, right? You should be thinking about your time the very same way. As you're practicing these four ways to get some

time back, if someone asks you to help them with something ASAP, you don't need to drop everything to accommodate. Instead, look at your schedule, which should be perfectly organized now thanks to tip number four, and offer the time that works best for you. Money Rehab is a production of iHeartRadio. I'm your host, Nicole Lappin. Our producers are Morgan Lavoie and Mike Coscarelli. Executive producers are Nikki Etor and Will Pearson. Our mascots are Penny and Mimsy. Huge thanks to OG Money Rehab team Michelle Lanz for her development work, Catherine Law for her production and writing magic,

and Brandon Dickert for his editing, engineering, and sound design. And as always, thanks to you for finally investing in yourself so that you can get it together and get it all.