If there is one thing that I’m focusing on this year, it is the allocation of the limited resources that I have.

If I master how to allot these resources into their proper usage and timing effectively, I wouldn’t have to worry much about achieving success at the end of the year.

resource allocation

My productivity is directly proportional to how I manage these four resources below.

1. Money

We cannot afford to waste money elsewhere. Money should be put into its proper place.

You don’t have to be a rocket scientist to understand how to allocate your financial resource. There are plenty of educational materials from financial experts around the country who teach the right approach to handle wealth. Financial experts such as Randell Tiongson and Marvin Germo, which by the way are authors of best-selling financial books that I devoured during my free time, can help you gain the wisdom to approach wealth in its fundamentals properly.

I’m not a financial planner nor would I consider myself to be an expert in the field. But by learning from many valid resources, I was able to learn some fundamentals of money management.

I remembered when I was starting my career as a freelancer, I didn’t spend money on buying fancy things like watches, and expensive coffees. Even if I was able to afford stuff, I disciplined myself not to purchase them.

Not until the time that I had a good financial portfolio and was capable of buying some wants – which by the way is still part of my money allocation every month. I allocate a small percentage of what I have for leisure and entertainment.

Early on in my career, I invested a lot of money in learning – books, online courses, seminars both in my industry and on personal development – which has helped me a lot in building my networks, and in increasing my income sources year after year.

Where do you spend your money? Be sure to spend it on things that will add value to you as a person.

2. Time

Time is unredeemable if we lose it. That’s why we have to budget not just our money, but also our time.

Technology can distract us the most. Our devices, if we are not careful, can be used to steal our most precious time from activities that will help us achieve our success goals.

I was a victim of time self-robbery myself. I was a computer addict for almost more than a decade. And though for some people, it is a usual hobby to do, I’d say it robbed me hours that I should have spent on acquiring skills and learning new materials at an early age.

Do not rob yourself by wasting your time.

I always tell this during my talks in schools, “Wasted time is a missed opportunity to grow.” The time wasted should have been spent on activities that will help you grow and mature in business and in life.

Have you had any days when you feel like you haven’t accomplished much?

It’s unfulfilling and it can affect our psyche. Those unfulfilled tasks can distract you while you are having dinner with your friends at night – there are seemingly little regrets running in your head. Unaccomplished tasks due to wasted hours are dangerous.

I like Jim Rohn’s philosophy of time. He said this best, “Don’t start the year until you finish it.” Don’t start the month until you finish it. Don’t start the week until you finish it. Don’t start the day until you finish it.”

Always begin your day with the end in mind. Identify your most important activities and pursue them with your full effort and attention.

3. Attention

Simply observe. Everyone is glued to their screens. Their attention is either focused on two things: entertainment or education

To get the most out of every hour (time), it’s important to know where you will allocate your attention. You can be entertained the whole day but found out that it’s not the right platform to place the most of our attention to.

A simple tip is this: education can be an alternative entertainment. Some people who read books feel as if it’s entertainment for them. You and I always have a choice. Manage your attention effectively.

4. Energy

You can be the most productive person concerning managing your tasks (time), money, and attention, but if you can’t function well enough, you’ll miss them all.

I’m not physically fit, but I am striving hard to get there. I managed to eat nutritious foods and take vitamins daily to cope up with everything that I do. Otherwise, I’d suffer days in bed without accomplishing much.

Your energy should be managed as well. Don’t get all your commitments scheduled in one day if you know it’s unrealistic to do so with all the energy you’ve got. You may reschedule, if it’s possible, and have the essential activities be accomplished first.

Don’t let yourself be burnout. Rest. But don’t take it as a luxury, take rest as a necessity.

Here you go! So those are the four resources that you have to allocate effectively this year. What are your thoughts on this? I’d love to hear your comments below.

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