How to Effectively Manage Your Time & Finances Despite Having a Busy Schedule

In the 21st century, where everything is fast-paced both professionally and personally, effective time and money management are essential life skills. Thankfully, what we can do in 24 hours today is aided by modern innovations that help us prioritise and perform tasks more efficiently. The key is to work smarter and to use time management techniques that help us achieve more in one day.

Here are five helpful tips on how you can manage your time and money wisely while juggling multiple tasks.

i. Set A Boundary Between Work & Personal Life

For most adult individuals, working takes up the majority of our day. When working from home, it can become challenging to separate our professional and personal life. It is far too easy to let work matters seep into time that would otherwise be spent on family or yourself, and in the long run, this can lead to burnout or fatigue. To overcome this, it is important to set clear and defined boundaries between work and play when working from home.

Unplugging and turning off work-related notifications at the end of the work day will help you disconnect from work and reconnect with other things in your life that are worth spending time on, such as your pets, family and friends. Prioritising down time for yourself is one of the best ways to recuperate and rest. Whether it’s watching your favourite TV series, calling up a friend for a chat or indulging in a favourite hobby, putting aside time to focus on anything but work can help balance your life, and keep you inspired to be more productive in the long run. So prioritise yourself and set clear boundaries. 

ii. Use The “Budget Jar” Method 

Having financial goals in life is a positive thing as it helps us focus our energies to achieve something for ourselves. Money goals go hand in hand with budgeting, and it is worth spending some time to figure out how much to spend and how much to save every month. If you’re struggling with how to manage your money efficiently, we recommend trying out the “Budget Jar” method.

With this method, you divide your income into six different jars with different income allocations. The first 55% goes to the biggest portion of your spending - necessities such as rent, transportation, groceries, and food. The next four jars receive an equal allocation of 10% each, and they are Long Term Savings, Play, Education and Financial Freedom respectively. These jars function as pillars for the future, and help prevent debt build-up while allowing us to spend comfortably. The last 5% goes to the Giving Jar, whether it is for charity or gifts. Do take note that the percentages will vary for different individuals depending on their needs. You may adjust the categories and percentages depending on what is important to you. 

For easy budgeting of your monthly expenses, subscribing to a subscription platform for daily necessities like food, toiletries and cleaning supplies is a great way to monitor your spending and finances in advance. Subscriptions have the added benefit of convenience as well, as you only have to sign up once to have your staples delivered to you month after month.   

iii. Reach Out For Help When Needed

If you find yourself having a hard time managing your time and money, do reach out for help. Don't be afraid to approach family members, colleagues or friends. You may be surprised by their response and their eagerness to help out. Some will even go the extra mile by contributing financially, and others may well have invaluable advice that will help you through difficult times.

Learning how to manage your time and money wisely is definitely challenging, but there are channels that provide convenient and affordable solutions. If you’re subscribed to a subscription platform, get in touch to find out about upcoming promos. You may find that keeping an eye out for deals can help you save a chunk of money.

iv. Pamper Yourself 

Treat yourself to something good every once in a while, such as ordering something nice for dinner or getting that item you have been longing for! Investing in your health is always a good idea so pamper yourself with good skincare products, health supplements and more as long as it’s within budget. Once you experience an improved quality of life, managing your time and finances will become less daunting. If you’re looking for affordable ways to acquire personal care items, SUBPLACE houses a broad range of amazing health and beauty brands that can help set you on the right path.

v. Opt for Easy and Convenient Alternatives To Regular Solutions

Opt for easy and convenient alternatives. Take online subscriptions for example: you can shop from the comfort of your home and have your items delivered to you. Running errands online also allows you to save on transportation costs, among other things. Secondly, some platforms offer subscriptions that will help you budget your monthly expenses. Thirdly, instead of committing to an installment plan and pay interest for your purchases, go for subscriptions instead as subscriptions let you have what you want and need without interest.

If you wish to improve your ability to budget without sacrificing quality of life, try SUBPLACE – the #1 subscription platform in Asia. SUBPLACE is a great place to start if you are interested in a platform that provides easy grocery and online shopping experiences that save you time and money. See what SUBPLACE has to offer now!