We are entering an era that is both frightening for some and exciting for others but everybody has to learn how to handle their business. The word business means both time and money because a lot of people focus on money and not have time to do things and a lot of people play around with time and don’t get any money. You want to master both your time and money to produce value and that is really the secret to having your stuff together and right. You don’t have to be “rich” which is what cats been trying to sell you, just have your money and time right and you will be good no matter how much money you bring home. In this article, let’s talk about three measurements that you need to do in order to have your time and money right. There is no need to buy books or listen to someone talk about money. There is also no need for these financial courses and these budgets and planning stuff – it’s really just 3 things you want to measure and let’s talk about them. The 3 things are how much it cost you to make a dollar, how much value your assets generate and how long you can hold onto the money you have. How Much It Cost to Earn a Dollar Knowing this information will help you quickly determine how you want to chart your life. What you need to do is record everything you spend per day and then look at how much you get paid per day and boil it down to a clean ratio of how much it takes you to make a dollar. For transportation, you may discover living in the suburbs with an SUV cost you more to earn the dollar you make versus a cheaper car with high miles per gallon efficiency. Even better, it may be cheaper to just take public transportation, no car insurance and take Uber or get a Zipcar – I experimented with this and I saved $700/month in car payments and insurance and met attractive women on the subway and we went out to the park and Starbucks and took Uber and better quality of life and saving a lot of money at the same damn time. For housing, you may live out far from your job or hub center but if you look at the time you spending on the highway where that 1-2 hours can be used to start your side-hustle or write an e-book or be with your kids, the value of living next to your work or hub center may be actually cheaper even if you feel the housing cost is $300 more a month. A smaller house may be cheaper to power and heat and maintain also and the savings can be used to rent an apartment or get a second home overseas and AirBnB it out. Eating is the secret cost – I see people eating at these places that cost $6 for breakfast and $7 for lunch and that is an expensive cost that adds up for the day. You can prepare meals and freeze them yourself or buy a bag of premium salad for $3, canned or packaged salmon for $2 and spread it for a few meals and be just as full and healthier too. So look at everything you do on a daily basis including cable bill, your cup of coffee and vending machine and compare how much you spend to make $1. What you want to do is reduce the amount you spend to earn $1 and what is cool is this is actually easier to do and better than becoming rich. You will be surprise at how much wealth you had but was throwing it away on small things on a daily basis. How Much Value Your Assets Generate Look at everything you own and list it and then ask if it is something you truly value as a personal connection or can it produce money by renting it or making it a liquidity asset you can sell later. This is where so many people mess up by buying things they cannot liquidate later by reselling or renting out to someone to generate income. Look at the item in your house that you own and ask “can I sell this quickly?” or “do I actually use this” and if the answer it no, then put it in a pile where you will just take it and give it to Goodwill or secretly throw it in the dumpster pretending this was a better trip than Goodwill but just get rid of it from your household. One of the things especially when the economy goes bad is you want to be able to quickly liquidate things you own or maybe rent them out to others for a little money. Even renting out for $5 can pay for lunch so don’t sleep on the potential of renting out items you own. Another way to generate value is look at your car – can you do ridesharing gigs with it? Or look at your computer – can you write up an e-book on it and publish it for sell on the internet? Can you create a podcast with the older phone that has a voice recorder app on it? Or your old computer can be used as an information broker and there are plenty of ways to generate value from the items you own. One thing and I can testify to this – throwing out all the unnecessary stuff that don’t make me money or mean much was an extremely good feeling. I come to a very clean house with only things that have value or things I can get rid of if I need to move out of town or liquidate fast or rent to generate income or use to create a hustle that brings in an income. When everything in your house is either value or money-generating, it’s a really good feeling. How Long You Can Hold onto Money When you get money, what do you do after that? I know so many people that talk about going to spend some on themselves or go spend it or some just talk about depositing it. I really don’t like the strategies people say like “pay yourself first” and that is the kind of nonsense that hurts people financially. What you want to measure and master is how long you can hold onto money you have. And here is the key strategy – this is not about savings. Your strategy of holding onto money is how you make money unimportant in your daily life. Can you go straight home and just do something or do you need to run and shop somewhere? Can you choose to do something like ride a bike or hang out at the beach versus shopping at the mall? Or hang out with a neighbor? Learn to situate your life where you hold onto money but not having anything in your daily life involve spending money. Calling it “savings” is not cool because it focus too much on the money part. The better and real strategy is to determine what do with your time when you are at leisure and I say stay home and read a book or pick up a 6-pack and watch a movie or play a video game or do a craft or learn to sew or learn something with your time – anything except run out and spend money. Some people start running as their pastime which is a huge money saver. What happens is every day you don’t run out and spend and realized you still survived, you hold onto the money you have and learned to live life without having to spend money or rely on it. This is when you learn to appreciate just living the life you got. These 3 Things to Measure Is All You Need to Handle Your Business Right Like I said before, you don’t need to listen to some financial guru or be admiring someone else money because I just told you the 3 things to look for in your personal situation to handle and you will be alright. These are also the 3 things you handle in the business world to keep your hustle going also. The goal of knowing how to measure these 3 areas of your time and money is to allow you to master your situation as it is now. So it doesn’t matter if you poor or struggling or if you rich – master these 3 things you will be alright. These 3 strategies are a realistic picture of your situation and also should help you make adjustments to your life. For example, you know the best way to have a low cost to earn a dollar is simply don’t have a car or a house and rent next to your job and take a bike or public transportation. Also you know owning something like a van or truck can be rented out to do deliveries and get paid and you also know when you come from work, put on headphones and head to the gym or yoga and just chillax the rest of the day allow you to hold on to the money in the bank. Do an analysis on these three things and learn to create a balance of value out of your time and money and your life will dramatically improve immediately.