How Do We Manage Our Money & Our Time?

LESS STUFF = MORE TIME

We must carefully consider every purchase we make!

In our life skills parenting courses, one of the big topics that all of us struggle with is managing our money & our time.

Time is our most precious asset, so we have to spend it wisely.  However, the way we spend our money has some surprising implications on our time that we need to consider carefully.

When we think about purchases, we have to thoughtfully evaluate every one we make.  There is a simple equation that can help us remember the implications our purchases have on our time- it is: LESS STUFF = MORE TIME.  Time - Money Blog

Think for a moment about all the stuff you have & the TRUE COST to you of those items in terms of your time that item demands…and it’s not just the time you spend taking care of it.  In life, we have to think very carefully about everything we purchase because it has 3 major & immediate implications:

  1. Paying for it – You have to pay for it…this money has to come from somewhere- either you take it out of your account, or you borrow money to pay for it (don’t do this unless it is for your home, & even then buy one well within what you could afford).  As we learned in the Life’s Top 10 session on Money, we know that we can quickly estimate how much of our life we have to ‘sell’ to pay for something by calculating how many hours we have to work in order to earn the purchase price in after-tax dollars!
  2. Maintaining it – You have to determine how much time it will take to care for it.  Here, the nicer the thing you buy, the more time you will need to spend maintaining it, else you’ll risk losing more money when you sell it someday.
  3. Using it – You have to determine if it will impact the core priorities in your life in a good way or not?  Will it cause you to spend more time using it & thus draw you away from the core priorities in your life (e.g. your family, church, etc)?  If so, is there a cheaper alternative that will provide you with the same or nearly the same benefit that would require less maintenance?
  • For example, if you have a family they should be a core priority for you, and as such, this is a tricky area, because it is easy for us to “justify” really expensive toys in the name of “family time”.
  • If you truly believe something is a wise purchase that will offer significant family benefits at an overall cost that you deem acceptable for that experience, you have to think through what the true cost of ownership is and whether or not there a wiser way to enjoy it.Time Blog
    • i.e. if you are contemplating purchasing an RV, but know that realistically you won’t use it more than a week a year, is it better to try renting one to see how you like it and then determining whether or not it is a wise purchase or you should simply rent one each year…if you decide to buy, can you buy a cheaper, used one with less bells & whistles that won’t cause you to feel like you have to polish and clean it all the time to minimize the depreciation hit you’ll take when you sell it.

Need More Parenting Advice?

We hope you found this article helpful – it is from the Life’s Top 10: “Trailmap for Life” resources designed to help parents successfully navigate life.  This program offers life-skills sessions where parents & their kids participate together- either on your own, or as part of a small or large group.

A Critical Component In Preparing Your Kids For Life:

If you’re a parent or a parent-figure of kids ages 10-20, this is a critical component in preparing your kids for life – options include our:

  • family program – designed for both moms & dads in single & dual parent households
  • father & son program – designed for dads and sons in a group or on their own
  • father & daughter program – dads and daughters working in a group or on their own

Each one offers a unique experience with your kids.

As parents, we all want to raise kids who are well-prepared for life on their own.  Kids with solid character who understand how to make wise choices. Choices in core life topics such as friends, dating, money, health, drugs, and how they spend their time.

Unfortunately, each year, millions of kids set out on their own, unprepared for what they’ll face- and that’s when they learn things the hard way- with consequences that can last a lifetime.    It was this critical scenario that led to the development of Trailmap for Life, a non-profit program solely focused on helping people understand & navigate the 10 most important topics in life.   Each of the 10 monthly sessions covers one of life’s 10 critical topics- with powerful videos, a workbook, & life-skills activities that make it fun & easy to participate!   This program offers life-changing insight from leaders & experts across the country…. And it’s forever changing those who experience it.

It’s easy to organize & host a group: Participating with other parents & their kids offers even more benefits – simply select the group option on the website & choose your meeting dates & times…then enter the email addresses of the parents you want to invite.  The website sends out the invites, tracks responses, and then throughout the program sends out automated communications & reminders based on the meeting schedule you set.    All you’ll do to host each session is follow a few short instructions, play the session video, and enjoy the experience with your kids & your friends.  No prep work is required at all!  And since all sessions are available 24/7 online, it’s ok if people can’t make all the group meetings – they can do those sessions anytime…

Whether on your own or as part of a group, this program helps you achieve the relationship that every parent wants with their kids and feel confident that you have prepared them well for life on their own.  We hope that you will join us for the adventure of a lifetime!    

All programs will launch in early 2017, so be sure to register for updates & to be notified when the programs go live!  Click here to learn more!

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10 Session Life Skills Course - 10 Topics To Get Right:

Click on a Program Below to Learn More or to Register

10 interactive-video sessions that lead parents & kids through life's core topics such as:  money, datingcharacter, friendsfaithpeer pressurefamily, & time management.

Each session includes a 25-minute video that guides you through key principles for each topic, including activities that make it fun & effective.

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