Personal Assessment of Money and Time Management Skills and Strategies

This assignment presents a comprehensive analysis of personal money and time management skills. It begins with questionnaires designed to assess an individual's relationship with money and their time management habits, exploring tendencies towards procrastination, prioritization, and multitasking. The analysis identifies key reasons for ineffective time management, including procrastination, unrealistic goals, and disruptions, while also discussing the resulting stress. The assignment then delves into effective time management techniques, such as prioritizing tasks, avoiding procrastination, and setting realistic goals. It also explores additional strategies like minimizing internet distractions, setting deadlines, and delegating responsibilities. Finally, the assignment outlines a procedure for setting realistic goals, emphasizing research, stakeholder engagement, and critical analysis to foster organizational improvement. The document provides a valuable self-assessment tool and offers practical strategies for enhancing both financial and time management capabilities.

Relationship with money
Explanation Yes No
1 Do you continually worry about not having enough money? √
2 Do you purchase things that you really don’t need? √
3 Do you spend money on others to make them like you? √
4 Do your friends always seem to have things that wish you had? √
5 Do you put 10% of your monthly income in a savings account? √
6 Do you know how much it costs you to live each month? √
7 Do you typically buy things each month only you find when you get home
that you already have them?
√
8 Do you eat out more than twice a week? √
9 Do you pay to have things stored in a storage facility? √
10 Are you the type of person who typically buys on impulse? √
11 Do you pay up your credit card each billing cycle? √
12 Do you have more than one credit card? √
13 As a child, did your parents make you work for an allowance? √
14 Look around your house or apartment. Do you really use the items you
purchased?
√
15 Do you spend more than $50 per month on phone calls? √
16 When eating out, do you count pennies to determine who owes what? √
17 Do you only withdraw money from your banks ATM? √
18 Regardless of how much you make, do you give money to charity? √
19 Do you tend to frequently borrow money from friends? √

20 Do you frequently buy lottery tickets or gamble in hopes of winning big
bucks?
√
21 Do you occasionally bounce cheques or borrow from your line of credits? √
22 Do you use coupons for items you might not otherwise purchase? √
23 Do you pay yourself salary (to be placed in a retirement account? √
24 Do you know your net worth? √
25 Do you know your monthly disposable income? √
Time management questionnaire

Questionnaire key 1
1-rarely 2-sometimes 3-often
Explanation Response
1 I tend to procrastinate with projects and responsibilities 1
2 My bed-time varies depending on the workload I have each day 3
3 I am the kind of person who leaves things till the last time. 2
4 I forget to make to do list to keep me organized 1
5 I spend more than two hours watching television each night 2
6 I tend to have several projects going on at the same time 3
7 I tend to put work ahead of family and friends 1
8 My life is full of endless interruptions and disruptions 2
9 I tend to spend a lot of time on the phone 1
10 Multitasking is my middle name 2
11 My biggest problem with time management is prioritization 3
12 I am a perfectionist when it comes getting things done 2
13 I never seem to have enough time for my personal life 1
14 I tend to set unrealistic goals to accomplish task 3
15 I reward myself before getting things done 1
16 I just never have enough hours in the day to get things done 2
17 I can spend untold hours distracted while surfing the internet 3
18 I tend not to trust others getting things done when I can do them better
myself

19 If I am completely honest, I tend to be a workaholic 2
20 I have been known to skip meals in order to complete projects 2
21 I will clean my room, garage, or kitchen before I real begin to work on
projects
1
22 I will often help friends with their work before doing my own 2
23 It’s hard to get motivated to get things done 2
1. Reasons why people don’t manage their time effectively include

a. The first reason why people do not manage their time in the right manner is their
tendency to procrastinate with projects and responsibilities. Chores that are to be done
in the current periods are differed to future.
b. The second reason is the trait of differing activities until the last day. The activities
will be done in a haphazard manner and deadlines will reach before project
completion.
c. Thirdly, people tend to set unrealistic goals during the planning phases of the project.
Even when you have the willingness to execute the plans, unrealistic plans may not
be accomplished within the set deadlines.
d. The fourth challenge of time management is prioritization. People often fail to meet
the set deadlines because they rarely set their priorities right.
e. Finally, people’s lives are full of interruptions and disruptions especially springing
from internet access platforms.
The factors which affect me as well are responses a, b and d, that is, I often
procrastinate projects, leave activities un accomplished till the last day and the fact
that I rarely set my priorities right.
2. My feeling of stress when time is not properly managed
a. Firstly, I will feel that I will not have time for my personal life. Despite the knowing
the merits of leisure, I will not be comfortable knowing that the project is yet to be
accomplished and I am having a good time somewhere.
b. Secondly, I will go as far as skipping meals to cover up what is to be cleared in the
project execution.

c. I will feel much disorganized if time is not managed properly as I am the kind who
likes sticking to plans.
d. I will develop the feeling that activities can only be done under my supervision if the
ones to whom they were delegated fails to deliver.
e. I will feel much distracted if the chores are not accomplished within the set deadlines.
3. Time management techniques which work
a. Managers should set priorities. This helps since one will be able to identify complex
processes and begin with them before embarking on the simple tasks.
b. Employees should avoid procrastination. This strategy helps since one clears task as
they come up in the organization.
c. Employees should avoid incidences of disruptions. This strategy can help one to
achieve the organizational mission without hitches, as they will have ample time to
execute the duties assigned.
d. The manager should set realistic goals. When employees are working on targets that
are proved achievable, they are motivated and work with set timelines.
e. The managers should allocate enough time for projects. When projects are evaluated
and enough time is allocated for their implementation, it is possible to accomplish
them within the set period.
4. Other ways of managing time effectively
a. Minimizing the possibility of accessing the internet using organizational resources
b. Setting deadlines for each task in the project management
c. Delegation of duties and trusting others since they are qualified to work in the
department

d. Working on projects as they come up and not leaving them till the last days
e. Setting time for watching television to leave you with enough time for bed rest
5. Procedures For Setting Realistic Goals
a. Conducting research to identify areas which need adjustment in the organization
b. Engaging all stakeholders in the organization to air their opinions
c. Critically analyse the views and evaluate them to identify viable aspects
d. Inculcating the ideas in the plan for all members to own the project
e. Implementing the project based on the plan

References
Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource
management: Gaining a competitive advantage. New York, NY: McGraw-Hill
Education.