The great economist, Vilfredo Pareto, originally came up with the 80 -20 Rule and this system is used in business all around the world today. The point is that 80 percent of all rewards come from 20 percent of effort.
This can be used in prioritising by identifying your 20 percent. Once you do that you will achieve more than you could ever have imagined with far less stress.
You can begin to do this by looking at your list of tasks, either daily or running, and sorting them by urgency or importance.
What needs to be done right away or we will suffer consequences, tasks which have a time deadline like bills? What tasks are related to achieving our long term goals? What are the tasks that are most important to you?
Take your time prioritising the tasks. They can seem equally important but with a little time you will see that some need more attention than others.
A common way to prioritise is to use the A,B,C method.
Check your list of tasks and assign them to either A, B or C.
A – Tasks that are important AND urgent. These are the tasks that will affect you greatly if you don’t accomplish them immediately.
B – Tasks that are important, but not urgent. With these tasks you have time to accomplish them before they have an impact on your life.
C – Those tasks or activities that you would like to do sometime but you don’t really have to do them.
Keep your daily list of tasks to 5 or 6. If you can never accomplish 6 then drop the number to five. When you don’t complete all the tasks on your list add the left overs to the next day. As you know some tasks can lead onto other tasks that are not on the list so just go with it and you can work through all the tasks at a steady pace. If you are feeling overwhelmed read this post.
Yep, it’s a simple concept but try it, you’ll be amazed at how well it works and in ALL areas of your life!
Here are some more articles that will help you save money
- How to Live within your means, even as they change
- Stop avoiding money and start making it!
- 10 Things I Know Now and Wish I Knew When I Was Younger on Being Financially Free.
- The 50-20-30 Rule
- 10 Tips for Financial Flourishing
- Make it on 50% or less!
- What Would You Do With An Extra $2000
- Become Great at Saving
- 15 steps to becoming an investor
- Planning Superannuation – How much will I need?