Each moment of our lives that we waste away,because of ineffective utilization, is an expensive mistake.



Having said that, it is also equally important to note that the key here is 'effective utilization', the intent is not to get frantic and try and cram in as much as is humanly possible into every minute.

This in itself can lead to enormous problems as your work might suffer or other aspects of your life might get severely impaired.

The key is in achieving a balance and effectively managing your time within the framework of that balance.

Here are five steps you can take to ensure that you manage your time in a smart and efficient manner.

1. Find your balance

Develop a work life balance that suits you. Compromising on your health, sleep, family will be detrimental to your work in the long run. The balance must ensure that you manage to allot sufficient time across the various roles you play. Achieving this balance does not necessarily mean that you strictly compartmentalize the various facets of your life as there will be times when you will need to be flexible. The objective is hitting the balance in the medium to long term.

2. Never Procrastinate

Procrastination is one of the biggest malaises that can affect your ability to manage time. Not only does it impair your work ethic, but also rapidly spreads to other areas of your life and begins to negatively impact them. You should understand that the problem is self-imposed and you are not the first, and will not be the last person facing it. Everyone goes through this problem at various points in their life and the key is in overcoming it. Make a plan to overcome the habit. Setting deadlines for small tasks is an effective way to get started on the reform path. It is not going to disappear overnight, so small steps work better than attempted giant leaps.

3. Take the time

A strong tendency among most of us given a daunting task, is to dive right in and try and cover as much ground as possible in the shortest possible time. While this is an appealing, aggressive approach, you will find over time that it will do you more harm than good. Take the time to plan. Planning is critical to success. Planning inculcates a sense of discipline and ensures that you spend your time and resources efficiently.

4. Set the bar

A critical part of the planning process involves setting goals. Setting goals, personal and professional, ensures that you remain motivated and don't flounder midstream. Setting the right goals requires some practice the goals need to be challenging but achievable. You do not want to err too drastically on either side in the process of setting your bar.

5. Divide and Rule

Even the tallest of towers are built a floor at a time. And each floor is laid out brick by brick. The most demanding of tasks can be comfortably completed as long as you split the task into smaller sub-tasks and attack these sub-tasks one at a time. Not only does this simplify the task, but it also provides you with an objective method of tracking your progress and managing your time effectively.

It is easy to grasp the importance of time, but it is much more difficult to develop the discipline to manage it effectively. Start today - the clock's ticking do not waste anymore of that most precious resource you have which is time.