Episode 1759: Your #1 Asset Isn't Money. It's Time. Here's How to Make the Most of It

So Money with Farnoosh Torabi
Host: Farnoosh Torabi
Guest: Heather Chauvet
Release Date: December 9, 2024

Introduction

In Episode 1759 of So Money with Farnoosh Torabi, financial strategist and bestselling author Heather Chauvet joins host Farnoosh Torabi to delve into the often-overlooked asset that surpasses money in importance: time. Farnoosh and Heather explore innovative approaches to time management, emphasizing the alignment of time investment with personal values and life goals.

Defining "Time Rich"

Heather Chauvet introduces the concept of being "time rich," which she defines as owning and controlling one’s time to live a fulfilling life aligned with personal aspirations.

Heather Chauvet [04:29]:
"Being time rich is owning your time, taking ownership of your time, feeling in control that you are utilizing the asset of time in alignment with the life that you want to live."

She contrasts this with the prevalent feeling of "time debt," where individuals feel perpetually overwhelmed and believe they never have enough time.

The Shift from Time Debt to Time Ownership

Heather shares her transformative journey that began with a stage four cancer diagnosis in 2013, which compelled her to reassess her relationship with time. Balancing motherhood and a career, Heather realized the necessity of aligning her time investments with her values to achieve a more intentional and fulfilling life.

Heather Chauvet [05:44]:
"I went from telling myself, I don't have enough, I don't have enough, I don't have enough to how can I utilize time to get me to a point where I feel the way that I want to feel?"

This pivotal moment led to the development of her signature approach, Energetic Time Management, focusing not just on productivity but on harmonizing energy with time investment.

Energetic Time Management

Energetic Time Management is Heather's holistic approach that integrates various dimensions of energy—mental, emotional, physical, and spiritual—with time management. This method encourages individuals to align their energy levels and personal desires with how they allocate their time.

Heather Chauvet [07:09]:
"It's about aligning your energy, your values, and your desire to create a life that feels as good as it looks."

She emphasizes that rigid productivity systems often overlook the importance of personal energy and well-being, advocating for a more adaptable and self-aware approach.

The Million Dollar Minute

One of Heather's standout strategies is the Million Dollar Minute, a mindset shift where individuals value each minute of their life as if it were worth a million dollars. This perspective encourages prioritization and boundary-setting.

Heather Chauvet [13:35]:
"If every 60 seconds of your life was valued at $1 million, would you invest it the way you're currently investing it?"

By evaluating tasks and interactions through this lens, individuals can make more intentional choices about where to allocate their time, leading to greater overall fulfillment and efficiency.

Overcoming FOMO and Establishing Emotional Foundations

Heather addresses the challenge of Fear of Missing Out (FOMO), which often leads to misaligned time investments. She advocates for establishing a clear emotional foundation by regularly asking oneself:

Heather Chauvet [15:10]:
"How do you want to feel?"

This self-inquiry helps individuals distinguish between superficial desires driven by FOMO and genuine aspirations aligned with their deeper values and long-term vision.

Practical Strategies for Managing Time

Heather offers actionable tactics to implement Energetic Time Management:

1. Outsourcing and Delegation:
   She highlights the importance of freeing up time by delegating tasks, thereby allowing individuals to focus on what truly matters.

2. Setting Boundaries:
   Establishing clear boundaries helps protect time from being encroached upon by non-essential demands.

3. Blocking Time on Calendars:
   Heather suggests creating a "Wouldn't It Be Nice" calendar—a template that includes ideal time allocations for various activities, helping to visualize and enforce desired time use.

Heather Chauvet [22:07]:
"You get to keep what you defend. If you are keeping a story of like, I can't, I can't, I can't, I won't, I need to control this, I need to do it all... Discomfort is part of this process."

4. Reviewing and Reflecting:
   Regularly reviewing calendar entries to understand patterns and adjust expectations fosters continuous improvement in time management.

Balancing Domestic and Professional Life

A significant portion of the episode focuses on the dual roles many professional women navigate—balancing career ambitions with domestic responsibilities. Heather shares her personal experiences with motherhood, emphasizing the importance of self-care and honesty in setting realistic expectations.

Heather Chauvet [28:52]:
"I need to have quality, connected time with my children and some type of flexibility... I need to feel good."

She advocates for radical honesty with oneself regarding time investments and the courage to "drop the ball" in areas that detract from greater personal well-being and effectiveness.

Conclusion

In this insightful episode, Heather Chauvet presents time as the ultimate asset, urging listeners to manage it with the same strategic intention they apply to financial resources. By adopting Energetic Time Management and valuing each minute, individuals can align their time use with their values, leading to a richer and more fulfilling life.

Key Takeaways

• Time as a Currency: Treat time with the same respect and strategic planning as money.
• Energetic Alignment: Align time investments with personal energy levels and values.
• Million Dollar Minute: Prioritize tasks by valuing each minute highly, leading to better decision-making.
• Overcoming FOMO: Establish emotional clarity to distinguish genuine desires from superficial fears.
• Practical Tools: Utilize strategies like outsourcing, setting boundaries, and creating idealized calendars to manage time effectively.
• Balance and Honesty: Maintain a healthy balance between professional and personal life through honest self-assessment and boundary-setting.

Notable Quotes

• Heather Chauvet [04:29]:
  "Being time rich is owning your time, taking ownership of your time, feeling in control that you are utilizing the asset of time in alignment with the life that you want to live."

• Heather Chauvet [15:10]:
  "How do you want to feel?"

• Heather Chauvet [22:07]:
  "You get to keep what you defend. If you are keeping a story of like, I can't, I can't, I can't, I won't, I need to control this, I need to do it all... Discomfort is part of this process."

Further Resources

• Heather Chauvet’s Book: Dying to Be a Good Mother: How I Dropped the Guilt and Took Control of My Parenting and My Life
• Heather’s Podcast: Emotionally Uncomfortable
• Join the So Money Members Club: SoMoneyMembers.com

Tune in next week for more insights and strategies to enrich your financial and personal life.