Last Wednesday, I watched a talk given by Randy Pausch at the University of Virginia about time management. In it, he discussed how time is in fact much more important than money and how everyone should try keeping a time log – a written record of how you spent your time. He suggested that you will be amazed how much time you spent doing some things and how little time you spent doing others. Then he made the natural analogy to a budget. Keeping track of everything you spend financially is identical to keeping track of everything you spend time-wise.
I no longer keep a budget in the strict sense because our expenses are relatively stable and we have a strong handle on what we need to save and how much. I don’t have a strong handle on where I spend my time and so I feel that a Time Budget Log is a great idea.
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