Optimize Your Things

Once we’ve gotten clear about what’s an asset, what’s a time waster and what’s a liability, then we can start doing something about that. We can increase our assets by investing more in them. And then similar things like them, we can eliminate our time wasters or possibly convert them into assets if they can turn out something that’s positive. And we can eliminate our liabilities or again, perhaps convert them into assets or something positive. Now I want to see if I can optimize my things. As a simple example, let’s say I have an oversized car, and I’ve appraised it and it’s barely a little bit more than a time waster. Now, this might depend where I’m at, let’s say live in the city. And I don’t really have to have a car. So I’m going to eliminate the car, I’m going to take that off of my expenditures, it’s not going to be something I take care of. I’m going to do it in a different way. That would be one way I could do it. But let’s say I was converted into an asset, what would that look like? Well, it might not be that I turn into an asset but I can have it be Less expensive time waster, I can get a smaller and more economical car. And maybe that takes my score from my one to a five. And I set a target date for one, I’m going to do that. So whether or not it actually eliminate it, or convert, it would depend on how I want to do that. Now, I might have, let’s say, a new home, that’s overpriced. And I’ve done the math on it. And I realized it’s more than I want to spend. And I’ve done my appraisal score, it’s a negative seven. I want to convert that, but I still need a place to live. So I might need to wait for real estate prices to drop before I’d switch or maybe I’d sell it now It all depends on how you would do it. And again, I could move that from a negative score to a positive score. But that might take a couple years because the nature of this thing This home is that it might not be able to be sold right away. So these are different ways you can make shifts and what we want to do is look at one of the things in your life that you’d like to either eliminate or convert and for the sex sighs, find 10 things and do this same thought process? What’s the thing? The appraisal score? Should you eliminate it or convert it? And if you’re going to convert it, what would that look like? What would you need to do? What would the new score be? And what’s the target date for you to take action on it. Now, this is something that for some people can be very difficult to let go of things. Most of the things you have unless they’re left to you from a family relative or somebody that’s really important to you. Usually, you can replace them at some point with something else or something similar. So take this step by step, take one at a time, but make your list. And once you’ve done that, go ahead and start eliminating or converting one thing every week or every month, depending on how quickly you want to do this. So overall, for the module, what we’ve done is we’ve scored our liabilities are time wasters and our assets. We scored all are in high investment things. And now we’re creating a plan to optimize our things and we’re gonna start implementing that once a week or once a month to start creating a lighter way of relating with assets. And just as a final piece on this, a lot of these things, you might say, Wait, I have a boat, I really enjoy my boat, but it costs me too much, well, maybe you sell the boat, and then maybe you rent a boat once in a while, or maybe you share a boat with somebody else and find a way to do that. So it’s not about missing out on life. It’s not about saying that anything that’s a material possession or thing is a bad thing. It’s about seeing which of the things you use on a regular basis. So to go back to the boat example, if you use a boat every weekend, well, then that probably is an asset for you cuz it costs less for you to own it, that would view the rent. On the other hand, if you own a boat, and the costs are such that it would cost you a third to rent it for the amount of time you use it, then you’re probably better off renting it. So this is not a value judgments not say what’s good or bad or right or wrong. It’s about finding What’s the use of these things that allows you the most amount of freedom, the most amount of time to enjoy them for the least amount of expense and the least amount of financial commitment. hope this serves you. As always, if you have any questions, please put them in the comment section below. Please share your progress in the comment section. And let me know whatever I can do to help you as you make more money in less time. Do what you do best. Create the lifestyle most desire for you, your loved ones in your life. Thank you