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Taking Time Out Of The Money Equation

One essential step toward creating wealth and living an abundant life is to take time out of the money equation.

You have heard it many times. "Time is money."

What difference is there between an employee who is paid by the hour and the employee working for a salary? The only difference is the unit of time.

Whether you are paid by the hour, biweekly, or the year, the amount you get paid depends on the amount of time you work.

It isn't true that time is equal to money. Because time is always inflexible, time is much more valuable than money.

It doesn't matter where you live or who you are. It doesn't matter what you can do. You have 24 hours each day, just as everyone else has 24 hours each day. It doesn't matter how much you earn per hour. It doesn't matter how high your salary is. It doesn't matter if you lose your job, or get a raise. However your income is measured by time, you have only 24 hours each day, 365 days each year.

Ever since I read Robert Kiyosaki's Cash Flow Quadrant, I have been fascinated by the mindset difference between entrepreneurs and employees.

According to The Cash Flow Quadrant, people are employees, self-employed, business owners, or investors.

Kiyosaki groups employees and the self-employed on one side the quadrant and business owners and investors on the other side. What kind of mindset shift is necessary for employees and the self-employed to move from the left side to the right side of the quadrant?

In other words, how does someone begin to think with the mind of an entrepreneur?

The mindset shift is to take time out of the money equation. Whether you own a business or work for a wage or a salary, if you trade time for money, you have not made the fundamental entrepreneurial mindset shift of a Business Owner on the right side of the Cash Flow Quadrant. You have not separated time from money.

Employees and Self-Employed people trade their time for money. No matter how much you earn per hour, per month, or per year, the amount of money you can earn is limited by the fact that time is limited.

This means that your income is always limited by time.

When you take time out of the equation, money is potentially unlimited.

Article Source: http://www.uberarticles.com/articles

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