Time Is Money - Pay Yourself First

Time is a valuable commodity. Ask anyone who's currently juggling home, family, job/career, school, and a crushing array of personal commitments. And isn't that pretty much all of us? There just aren't enough hours in the day. From sunrise to sunrise, we only get 24. We can't beg, borrow, steal, or even manufacture any more. That's why time is so precious.

What's an aspiring writer to do? Take a tip from some of the best known financial consultants out there. Even in a down economy, when credit's tight, hundreds of people across the country are still managing to tuck some money away in their personal savings accounts. How? By paying themselves first, before the rest of their creditors. Now, that's thinking outside the box.

The concept of "paying yourself first" doesn't come easily to most of us, but if we want to be successful writers, we need time. Time to learn our craft, hone our skills, write/revise our manuscripts . . . even plan our marketing strategies when we're finally ready to send our work out into the world. Where to find it? There's certainly no time left at the end of the day, not if we haven't found a way to slip some into our budget beforehand. That's where "paying yourself first" comes in.

So, how to begin?

Step 1) Take a moment to sit down and examine your life, your daily schedule, the commitments you've already made. Then target a specific amount of time each day that will be forever reserved just for you. This is the "check" or "deposit" you'll be paying to yourself. Maybe an hour each night after everyone else has gone to bed, or half an hour each morning. Don't be grandiose! This is no time for grandstanding! Pick an amount you can stick to religiously day after day, week after week.

Step 2) Don't stiff yourself. You'll always have friends and family (think of them as your other creditors) calling to invite you out to a movie, or lunch, or a day trip to the beach. These little temptations are hard to resist, especially if your book or novel has hit a snag and your "labor of love" has become just plain hard work. But they won't do much to move your writing career forward or help you realize your dream. So when these other creditors come calling, and they will, think of yourself as the one creditor that absolutely, positively must be paid that day . . . or else. "Pay yourself first" and then use the movie date as a reward for good behavior.

3) Don't make the mistake of thinking you can skip paying yourself today and just double up on your payments tomorrow. It never works. Follow that course and you'll soon have a fistful of IOU's, but you'll be no closer to your dream. It's much better to stay current.

For best results, start slow and easy. Think of this as a long term investment, not a lightning fast sprint to the finish line. Stay the course, continue "paying yourself first" each and every day, and watch the dividends pile up. Just think differently.

Karen Gilb