hint: it has nothing to do with “money”!
(Please read previous post as this is a continuation…)
And now… the first two New Millennium Currencies
Time
The most finite, expensive (especially with the ever popular “opportunity cost” equations), and in-demand currency of them all. But not the most important! It’s important to realize that more time, resources, thought and engineering is being spent on figuring out how to save time (or properly utilize & monetize it) than ever before.
BUT, the entire concept of time management (in terms of scheduling and proper use of time) is being placed under debate and is being renegotiated. It’s outdated.
I suggest rethinking the concept of time for yourself. After reading ahead into the currency of passion and learning that energy management is far more effective and important than time management, I urge you to consider dropping the outlook calendar, the 2 ton calendar you have in your bag or at your home office… and develop the process of having a simple priority divided task list that’s organized like it was the latest apple software product and a single small tablet of paper on your desk that says “today I will accomplish these two tasks:…”, or even “today’s top priority is…”. It will be the best innovation to your time management since you started learning to read a clock!
Later we’ll discuss how to properly monetize your time. But for now, start to understand that time is a vital form of currency. And that it is far more important than “money”.
Assets
This category use to be labeled money or cash. But money alone is no longer considered an “asset”. This is because it doesn’t follow our New Millennium currency rules. It’s not in motion (well at least if you don’t consider inflation and if you do, then money is always declining in value). Thus, in order for money to be in motion, it needs to be earning you a return of some sort by investing it and converting it into an “asset”.
Assets simply stated; stocks, bonds, metals, real estate, net estate (see below), other business investments, etc. (There are more assets that I will cover in the monetization section of these posts, but for now, these are the traditional approaches.)
Many people think of the real estate market as being “crashed”. And sure it’s not worth what it once was. But think globally. How many millions of people around the world would kill to own your house or condominium? Think if you had more time, information and motivation that you could sell it or leverage your property to still make money is a down economy?
If you don’t “own” anything… start today. Even buying a few cheap stocks from very well known companies at the fire sale prices we’re seeing due to the crushed economy will start to generate a feeling of “ownership”. If you don’t know any places to invest in, consider a money market account or just start investing in gold and other metals that historically hold their value. You should definitely own digital real estate – or “net estate” (your own URL and network ICP – see other posts). Depending on where you are financially, you should look deeper into the opportunities that the current economy may have for first time home owners if you don’t own your home. You may be surprised to find out that you could buy your way into a decent place and be paying a lot less for the mortgage than the rent on your apartment – even in this economy. Also see current tax deductions for first time home owners. Thousands of dollars can be claimed back from taxes paid just for new ownership.
Information and Passion currencies are to follow in the next post
