Time is our greatest asset. Unfortunately most of us trade our most precious asset for a few pennies throughout our entire lives. The richest people have found a way to earn a lot of money by doing nothing. They have found a way of leveraging their time. This is usually called the Time-Money-Time arbitrage.
Imagine the owner of a small shop down the street. Initially he works alone and does everything in the shop. As he begins to expand and earn some money, he hires an assistant to do most of the work. He pays the assistant a minimum wage. The difference between what he earns and what he pays the assistant is a profit which he keeps for himself. The shop owner has in fact multiplied his time and productivity by hiring cheaper labor. He has traded his time to earn money. He then used some of this money to buy someone else’s time at a lower rate.
We can use the Time-Money-Time arbitrage to improve our finances. Identify the trivial tasks in your life and delegate them to someone else for a small fee. Then focus your time and energy on the value adding tasks which bring in the most income. This will make you more efficient and productive and you will be able to multiply your time. Soon you will be on your way to abundant riches.