Time management: Ben Franklin style

I realize that while it is not always a simple task to get things in order – or keep things in order – having your affairs in order is a thoughtful and meaningful endeavor. As we are in full swing of tax season and have many important documents already out, I thought some attention to time management might be helpful.
Ben Franklin, widely recognized for his 13 Virtues, was king of time management. Developed as a prescription for daily living at age 20, he sought to put the Virtues into practice his entire life; focusing each week on a different virtue, and then repeating his “course.” He completed a course every 13 weeks, or four times a year.
Franklin’s 13 Virtues, in specific order:
1. “Temperance. Eat not to dullness; drink not to elevation.”
2. “Silence. Speak not but what may benefit others or yourself; avoid trifling conversation.”
3. “Order. Let all your things have their places; let each part of your business have its time.”
4. “Resolution. Resolve to perform what you ought; perform without fail what you resolve.”
5. “Frugality. Make no expense but to do good to others or yourself; i.e., waste nothing.”
6. “Industry. Lose no time; be always employ’d in something useful; cut off all unnecessary actions.”
7. “Sincerity. Use no hurtful deceit; think innocently and justly, and, if you speak, speak accordingly.”
8. “Justice. Wrong none by doing injuries, or omitting the benefits that are your duty.”
9. “Moderation. Avoid extremes; forbear resenting injuries so much as you think they deserve.”
10. “Cleanliness. Tolerate no uncleanliness in body, cloaths or habitation.”
11. “Tranquility. Be not disturbed at trifles, or at accidents common or unavoidable.”
12. “Chastity. Rarely use venery but for health or offspring, never to dullness, weakness or the injury of your own or another’s peace or reputation.”
13. “Humility. Imitate Jesus and Socrates.”
Almost three centuries old (1726), these timeless virtues serve us well today.
Back to time management … much of his successes and inventions were made possible by his effective management of time, as can be seen in the virtues of order, resolution, frugality and industry.
Order: Putting things in their places goes a long way in practicing good time management; the habit of touching each piece of paper or mail only once, and the old adage “a place for everything and everything in its place.” The idea being you aren’t wasting time looking for lost items. The idea of, “if you don’t have time to do it right, when will you have time to fix it.” Order is a key component of good time management.
Resolution: Once he resolved to do something, he scheduled it. He resolved to get it done, and knew by establishing a time for accomplishment and a time to complete a task or a goal, it would significantly increase the possibilities of success.
Frugality: Waste nothing. That included time. Franklin had game plans for every hour of every day, every calendar quarter and every year – at times it seems down to the minute:
5 a.m.: He began his day with the question, “What good shall I do this day?”
8 a.m.: He began his work. He took a mid-day break to eat, read and review accounts.
6 p.m.: He ended work by putting things in their places, and began dinner, music, conversation and an examination of the day.
10 p.m.: He asked himself, “What good have I done today?”
Industry: “Lose no time,” he stated. “Cut off all unnecessary actions.” Franklin scheduled his time for work, for pleasure, for self care, for contemplation and for conversation. Planning out his days, weeks and years served him well as a good practitioner of effective time management. We should all be so organized, right?
It’s my hope this message will encourage you to do a bit of spring cleaning with your paperwork, documents, review your trust, health care directives, make sure all of your beneficiaries are in order, etc. (We have checklists available to help get you organized, just give our office a call.) Good order and regular reviews, with a dose of effective time management, establish a solid foundation toward ensuring your affairs are in order.
Ben’s accomplishments were vast. Beyond the discovery of electricity, he has among his many credits: founder of the first U.S. hospital and the first U.S. Postmaster General, inventor of swim fins, Daylight Savings Time and the lightning rod, a writer, a publisher, a cartoonist, a cartographer. While you might not aspire to be a “Ben,” I hope you are inspired by his time management principles and his 13 Moral Virtues.
Kristi Ellington is a registered representative with and securities and advisory services offered through LPL financial, a registered investment advisor. Member FINRA/SIPC.