More questions to answer before thinking about passive income

As I mentioned in my last post on this blog, there are some concerns and challenges when we take the road less travelled that is passive income. We already discussed one of the first entry barriers: “I don’t have enough money to invest in passive income”.

In today’s post, I am going to discuss another very common feeling from people who have a bit of money saved, but they are not using it, just because:

I don’t have enough spare time to find ways to invest my savings in passive income”

I get it, we all have time constraints. Working full time and trying to balance your professional life with your personal life is a challenge in and of itself. Plus we need to make some time for exercising, going out with friends, and managing our kids’ agendas. I always wish that a day could have 48 hours, or I could survive on only 2 to 3 hours of sleep a night. Unfortunately, the hours in a day are  not going to change, so we will need to find time in our very tight schedules.

I’m going to jump for a second to a separate topic: I’ve recently read a book called “The Beck Diet Solution ”. One of my new year’s resolutions has been to try to lose some weight.  I’ve tried different options in the past, but I’ve never made the weight loss permanent. I like this book a lot, and in fact, it is recommended in my library!

I mention this book to you now, because in one of the chapters, I was challenged to prepare a daily calendar. You will find my original calendar below along with my revised one:

Antonio’s calendar with a full time job

TimeActivity
07:30Wake up & shower
08:00Prepare breakfast for the kids and myself
08:15Get the boys dressed
08:30School run
09:15Get to the office – work
13:00Lunch
17:30Finish work
18:00Come back home & pick up kids from school
18:15Homework
18:45Prepare dinner
19:00Eat dinner
19:30Kids bath time
20:00Play time with the boys
20:30Put kids to bed
21:00Catch up with my wife
21:30Clean the kitchen, hang up the laundry or read correspondence
22:00Netflix
23:00Go to bed

Antonio’s current calendar with a part time job

TimeActivity
07:15Wake up
07:30Exercise & Shower
08:30Breakfast
09:00Work
13:00Finish work
13:05Time for my blog: write articles, read & research passive income
14:30Lunch
15:15School run (the kids don’t need to go to any after club!)
15:30Homework
16:00Play time with the boys
16:30Prepare dinner & home tasks (cleaning & laundry)
17:00Kids have dinner
17:30Monday & Thursday kids’ activities (swimming or coding lessons)
17:30I use kids’ activities for running errands
19:00Bath time
19:30Play time with the boys
20:00Reading time (sometimes with my eldest boy)
20:30Put kids to bed
21:00Catch up with my wife
22:00Monday is reading evening NO TV, rest of the week Netflix
23:00Go to bed

What has changed in my life you may ask? Lots of things really:

  • My wife is now doing the morning school run. Mornings are her time with the boys. This gives me extra time to do a 20 minutes workout in the morning and also provides me with more time to prepare and eat a healthy breakfast.
  • I also have around 90 minutes every day to work on my blog, researching potential new passive income, doing some training on different topics (i.e. trading, investment property, web coding or a writing course). This is one of my big wins! I found the time to think about other ways of generating income.
  • My kids don’t need to go to after clubs anymore. They can now choose what they want to do. At the moment they go to swimming lessons on Mondays, and to coding lessons on Thursdays and Saturdays.
  • Both my wife and I have more time for ourselves: My wife can do a couple of workouts during the week, and she has also started some salsa dancing lessons on Thursday evenings! As mentioned above, I’ve got the time to do 20 minute workouts in the morning, and I am going for a run on Tuesday and Thursday evenings. Also, every Saturday morning I participate in my local Parkrun. It’s a free 5 km run, and it’s happening in lots of towns around the UK. I really recommend it; it’s a great way to start your weekend! If this is something that interests you and you’d like to learn more about it, please check out their website.
  • The new calendar is providing more time to accomplish our two main goals for 2022: we now have more time to prepare the food we want to eat in advance, which is helping a lot to increase healthy habits in the way we cook and what we eat. Also, we both wanted to read more, so we have started with NO TV Mondays. It’s going very well so far! We are both reading a lot more now compared to last year.

Why am I sharing my personal calendar with you? Well, I just want to show how I’ve actually managed to find the time for other things in a very tight schedule. I believe we all can find ways to free up some time. My advice to you as you start this journey, is to be more aware of how you spend your precious time. I would recommend preparing an actual calendar! It’s very important that you are honest with yourself at this point. 

When you have your timetable ready to go, just find some activities that you can squeeze, delegate or even eliminate from your day to day.

As a last step, you can fit new activities into the free slots that you have generated. Obviously how you use this time is very personal. I’ve met people who need to focus on one activity every day, even if it’s only for 30 minutes. Others prefer to free up a whole evening every two weeks, let’s say from 8pm to midnight, to work on their personal finances.

Lots of roads lead to Rome, and more importantly, Rome wasn’t built in a day! My advice? Find your way, promise yourself you will stick to the plan, and sooner than later you will have a nice routine with more free time to be used to learn more about passive income.

In my next post I will tackle another common negative thought, that is in a way linked to the topic discussed today: “I just don’t know what to do with my money… so I will buy a more expensive car instead”.

Hope you liked this post. As always, many thanks for investing your valuable time in this blog. And don’t forget that you can always reach out if you have any suggestions; I’d love to hear from you.

See you around!

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