If you want to create wealth and abundance, learn to separate money and time.
There is an old saying: Time is money.
The work we do is measured by units of time. The only difference between an employee who works for an hourly rate and the employee who works for a salary is the unit of time.
It doesn’t matter if you get paid by the hour or the year. You get paid according to the time you work.
It isn’t true that time is equal to money. Because time is always inflexible, time is much more valuable than money.
No matter who you are, where you live, whatever your capacities and resources, you have the same 24 hours each day as everyone else even though the amount of money available to you can fluctuate. You can earn a higher salary, lose your job, get a raise, take a pay cut. Whatever the rate of income you earn, whether it is measured by the hour, day, week, or year, you have only 24 hours day each day and 365 days each year.
In the Cash Flow Quadrant, Robert Kiyosaki explains the mindset difference between employees and entrepreneurs. I was intrigued by the difference.
Kiyosaki divides people into the four quadrants of Employee, Self-Employed, Business Owner, and Investor.
Employees and Self-Employed are on the left side of the quadrant, and Business Owners and Investors are on the right side of the quadrant. What is the primary mindset shift which allows someone to move from the Employee/Self-Employed side of the quadrant to the Business Owner/Investor side of the quadrant?
In other words, how does someone begin to think with the mind of an entrepreneur?
First of all, the change in mindset requires that you separate time from money. anytime you trade time for money, whether you do it as an employee or as a self-employed person, you are not made the mindset shift of an entrepreneur that will allow you to move to the right side of the Cash Flow Quadrant.
Employees and Self-Employed people trade their time for money. No matter how much you earn per hour, per month, or per year, the amount of money you can earn is limited by the fact that time is limited.
As a result, no matter how much you get paid per unit of time, your income will always be limited by time.
When the money you can earn is no longer limited by the unit of time you work, the money you can earn is potentially unlimited.