How To Manage Time And Money

From Napoleon Hill’s book ” Keys To Success – The 17 Principles For Personal Achievement” these are the key points I took from Chapter 16 -Time and money management

For the full list of the 17 principles for personal achievement summarized you can go here.


Take Personal Inventory

How you use and spend your time will determine what your life will be like in 10 years.

Take inventory of your progress to time and money management.

  1. Do you have a major definite purpose? What plans do you have for attaining it? How much time are you devoting to those plans on a persistent, daily basis? How often do you work on those plans; only when the notion strikes you or  when you can snatch a few minutes during commercials?
  2. Is your definite major purpose a burning obsession? When and how often do you fan its flames?
  3. What do you plan to give in return for realizing your definite major purpose? Are you doing it yet? When will you start?
  4. What steps have you taken to build your mastermind alliance? How often are you in contact with the members? How many of them do you speak to monthly, weekly and daily?
  5. Have you made a habit of accepting temporary defeat as a challenge to greater effort? How quickly do you seek to find the seed of the equivalent benefit when adversity strikes?
  6. How do you spend more of your time? Carrying out your plans or brooding over the obstacles you face?
  7. How often do you forego personal pleasure to have more time to work your plan?
  8. Do you seize every moment of time as if it were the only one you were sure you had?
  9. Have you looked at your life as the result of the way you spent time in the past? Are you happy with your life to date? Do you wish you had spent it some other way? Do you regard each second that passes as the opportunity to change the course of your life for the better?
  10. Is your mental attitude always positive? Is it positive most of the time? Some of the time? Is it positive now? Can you make it positive in the next second? How about the one after that?
  11. How often do you display personal initiative by backing your positive thoughts with action?
  12. Do you believe that you will have success by luck or a windfall? When are these things going to happen? Do you believe you will succeed by your own effort? When are you going to make those efforts?
  13. Do you know anyone who inspires you with his or her personal initiative? How often do you seek that person out? How often do you actually model your behavior on him or her?
  14. When do you go the extra mile? Does it happen everyday or only when you think someone is paying attention? Is your attitude good when you do it, or do you begrudge the extra work?
  15. How attractive is your personality ? Do you look at yourself in the mirror every morning and work to improve your smile, your facial expressions? Or do you just brush up before an important meeting?
  16. How are you applying your faith? When do you act on the inspiration from infinite intelligence? How often do you ignore it?
  17. Are you building your self-discipline? How often do uncontrolled emotions cause you to do something you quickly regret?
  18. Have you mastered your fears? How often do you display their symptoms? How often do you replace them with your ambitions?
  19. How often do you accept other peoples opinions as fact? Do you question those opinions every time you encounter them? How often do you call on accurate thinking as the solution to your problems?
  20. How often do you inspire cooperation by giving it ? Are you doing it at home? In your mastermind alliance, at the office?
  21. What opportunities do you allow your imagination? When do you apply yourself with creative vision? What dilemmas do you have that need to be solved this way?
  22. Are you relaxing, exercising and paying attention to your health? Were you planning to start in the new year? Why can’t you start right now?

Doers and Drifters

Your attitude towards life determines your attitude towards time. People pretty much fall into two camps on this subject:


  • have a definite major purpose
  • manage circumstances and resources
  • examine every idea they encounter before they adopt or discard it
  • take risks and assume responsibility
  • learn from their mistakes
  • go the extra mile
  • control their habits
  • positive mental attitude
  • create mastermind alliance to expand their knowledge and experience
  • recognize their weaknesses and take steps to control them


  • controlled by circumstances and lack of resources
  • flip from one idea about life to the other, depending on this weeks fad or what the guy on TV said last night
  • run from opportunity ad blame others for their lots in life
  • make the same mistakes again and again
  • do only what it takes to get by
  • let their habits control them
  • have negative mental attitude
  • never do anything to improve their situation
  • learn all they want to know from that guy on TV
  • wouldn’t know a weakness if it bit them

Doers see work as the source of all opportunity, a route to independence and security, and a means to better the surrounding world.

They don’t complain about long hours, they complain that the hours aren’t long enough to accomplish everything they want.

As a result doers get paid twice.

Doers take possession of their minds through self-discipline. They make plans and carry them out. They don’t spend time thinking about what they don’t want.

Doers never spend time arguing, nitpicking or gossiping and avoid people who do.

Doers not waste time with drifters. They realized defeatist attitudes can be contagious.

Doers delegate work to someone who does the job better than they can.

Doers are people of active faith. They let their commitment to living their lives morally and honorably insulate them from fear and arrogance.

Doers put the time they have away  from their jobs to practical uses. They romance their spouse,  laugh with their children, relax alone, exercise with friends, educate themselves, campaign for good political candidates, or work on their plans for their major definite purpose.

Doers enjoy life more than drifters because everything they do brings them closer to their goals.

They make all their time work for them.

Doers go to the movies, read books, go to baseball games and even stare up into the sky and watch the clouds go by. But they know why they are doing it. That makes all the difference between doer and drifter and success and failure.

The Division Of Your Day

Everybody gets the same 24 hours everyday.

Best way to split up your time:

  1. 8 hours sleep
  2. 8 hours work – potentially most directly productive – must stay focused on DMP and going the extra mile
  3. 8 hours spare time

Make a list of all the things you need to do today, this week and this month.

Divide a separate sheet of paper into 4 equal parts.

Label top right – Important but Not Urgent – essential to your work but not a crisis

Top Left – Important and Urgent

Bottom left – Unimportant but Urgent

Bottom right – Unimportant and not urgent

When you accomplish a task draw a line through it to show your accomplishment

Budgeting Your Spare Time –

  1. Spend one hour a day in quiet meditation on the following subjects:

A) Your plan for your definite purpose,

B) Contact with infinite intelligence,

C) Affirming your gratitude for your blessing you have

D) Self-analysis – identifying the fears you need to master and making plans for doing so

E) Ways to increase harmony in all your relationships

F) The things you desire instead of the things you don’t want

2. Devote 2 hours to going the extra mile by rendering some sort of service to your community, your spouse, or your family without expecting any kind of reward for it.

3. Study and read for self-improvement for an hour.

4. Spend an hour in contact with members of your mastermind alliance or close personal friends.

This leaves 3 hours for relaxation, recreation, exercise and other responsibilities.

Follow this plan 6 days a week and set aside one day for nothing but mental and physical relaxation and your religious and philosophical activities. You can spend much of this time with your family.

Budgeting Money

Cultivate the habit of setting aside 10 percent for yourself to save, 10 percent for charity and 10 percent for investing.

The other 70 percent is for bills and recreation.

Habits are the key to personal achievement and the secret to time management.

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