How to Value Yourself and Master Your Money Mindset Instantly

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If you ask people about any area of life that they need the most help with, it usually comes down to one thing: MONEY

Although many people think money might be bad, evil, or “the root of all evil” the fact is that your mindset about money is really where the evil takes place.

Learning to master your money mindset is absolutely essential to finding growth and opportunity in your life.

I have often said that evil only exists in the minds of men, and although many people go off on me about that, it’s absolutely true, especially when it comes to how we handle and deal with money.

 Most of your negative opinions about money probably came from people who NEVER HAD ANY!

A short while ago, I finally came to realize that my own mindest about money was keeping me locked in failure, and I was constantly sabotaging my ability to earn more.

One day, I went to a business training class and the first thing the trainer had us do was to make a list of all of our dreams and goals. What kind of house, car, techno gadgets, vacations, and things of this world do you WANT?

Now, go do some research and find out how much it would cost you per year to have all those things, and double it.

This was an expansive list for me, and I realized I needed about $100,000/ year to live the life that I want, and my BEST YEAR EVER barely made a little over 1/4 of that.


Because of the next part of the equation.

You see, doing this gave me a goal that I need to shoot for in my financial life.  Now, the next thing he asked was shocking, and absolutely critical to learning how to master your money mindset:

 What is YOUR Time Worth to You?

You see, the two most essential assets we have are money and time, and if you aren’t spending your time as well as your money, wisely then  you are destroying your chances to really have the wealth that you want.

He also gave me a simple formula that I used, and was blown away to find. Today, I want to share that formula with you.

The Simple Formula to Master Your Money Mindset

First of all, take the amount you need to make to live the life that you want.  Now, write down how many weeks per year you want to actually work, giving yourself time to take that vacation you want.

Remember there are 52 weeks per year, so subtract how many vacation weeks you want from 52.

I came up with 48. (that allows me to take off 4 weeks per year.)

Now, take your business. How many hours per week do you spend “working” doing tasks related to your business or generating more income for yourself and your family.

I came up with 50. I work about 10 hours per day, 5 days per week, although some weeks I do more, thats a good average.

NOw,  write down how much of that time is spent on things that actually generate direct revenue. Not handling small technical details or networking with friends in the business, but actually closing a deal, creating a product to sell, on a consulting call with a client, etc…

(note to all my web marketing friends…)

Remember, lead generating activities aren’t direct revenue.  IF you are writing an article to get traffic or generate leads to your email list, that’s not direct revenue. Writing an article, or composing an email to your list that is preselling a product is though.

Let’s break down the whole formula. (you are working through this yourself aren’t you? I thought so…)

I was shocked at this, because I found that I was only spending 1/2 an hour – 1 hour per day on things that actually generate direct revenue!

 Now, plug these numbers into a simple formula:


{number of hours worked/day genreating revenue} X {number of days worked per week} X {number of weeks worked per year}= number of hours/year directly generating revenue.


Now, divide that number by the amount you want to make! This tells you exactly what every hour of your time is worth!

so, to recap, let’s plug in my own numbers:

(We will go with an average of the time spent, so .75)

.75 X 5 X 48 = 180 hours per year actually generating revenue

Now, we can divide what we want per year

$100,000/180= $555.55

 That is what every hour of MY day is worth!

now you see why people say I am underselling my coaching…

Now, take the number of hours you spend working, and multiply it by the number of weeks you want to work.

So, that would be:

(10 X 5) X 48= 2400 hours working per year!

now subtract that from the number of hours you spent working on direct revenue

2400-180= 2220 HOURS PER YEAR WASTED!

Now, multiply that by how much your time is worth…

2220 X $555.55 = $1,233,321.00

So, doing things myself, I have wasted over 1 million dolllars in the last year!

This absolutely shocked me and left me realizing just how valuable my own time really is. Once you do this, you will realize how powerful paying other people to do things for you is, and YOU HAVE TO HAVE MONEY TO DO THAT!

Now, I am spending every extra dime I can muster to save myself time, and get out of living in this state of lack. I am focsed and more productive with the time I spend working, and I am absolutely committed to paying other people to do as much work as possible in every area of my own life!

Look at your time as costing you money. once you accept this, you will value your own time.

 Remember, if YOU don’t value your time, nobody else ever will either. and this is one of the secrets that All wealthy people know and broke people fail to grasp.

The thing is that this is so simple, a 5th grader can comprehend it.

This doesn’t mean you have to focus every minute of every day being productive, but the next time you start to tell yourself ” it is cheaper to just do it myself” remember this exercise, and ask yourself “is it really?” What is doing things yourself costing you in time spent? This is the key to mastering your money mindset and taking control of how productive you are.

Since I went through this a few weeks ago, I have increased the amount of my own time focused to generating revenue and my revenue went up…

How about them apples?

You spend more time on it and it goes up. What an amazing concept. Sometimes I slap myself for being as dense as I am. Don’t beat yourself up though. this is an evaluation to help you MOVE FORWARD not to look backwards and beat yourself up. Judging past mistakes based on today’s knowledge is a waste of time and energy that you could spend earning another paycheck!

(if you don’t believe me, look at how much that time is costing you…)

If you are tired of struggling with your adversities and want a sense of inner peace, and growth, check out my free guide below, and let me help you change your life forever.

About James Pruitt

James Pruitt is an author, blogger, and speaker in the areas of personal balance, personal growth, and creating inner peace. He has studied and worked with people since 1994 in the areas of spiritual, mental, emotional, and physical balance and healing. Check out more at


  1. 22 June 12, 2:00pm

    Okay, okay!!! You got me!

    I actually heard this a few years ago James can you believe that! You know that I’ve been called out on this many times and just recently came over to the light side. I’m actually going to use this phrase when I speak to potential clients. Ask them what they feel they are worth per hour if they balk at paying me for consulting. I think so many of us don’t value our time. It’s HARD asking for money.

    I understand the concept that we need to actually be generating income so we need to do those tasks that will do just that much more than playing around in social media. Fortunately for me, a big part of how I make my money is by connecting with people using social media. That’s why I love what I do so much.

    Thanks for sharing this with us James. This should be a post everyone sees so I’ll be sure to share this one with my friends and followers as well.

    You’re the man…

    Have a great weekend okay!


  2. 22 June 12, 8:45pm

    Hi James,

    This is a MUST SHARE with people I know in the business of coaching that find it difficult to evaluate their time. For me, it is easy because I’ve been counseling people for years. I know what my time is worth based on that.

    This formula is so impressive. People do not evaluate their time. Also, we have to take into consideration how many times – or how long we want to work with a person. That can make a difference too.

    If I were to do more than a one shot session, I would put a higher price on it. We have to take into consideration, not only the value but the energy we put into it.

    Thanks for proving a point I was trying to make for a long time!

    • 22 June 12, 9:37pm

      hey Donna, thanks for your insight, and I agree. I am just getting into the coaching/consulting as a business, although most of it is just monetizing stuff I have already done for years, largely due to me actually using this formula and realizing how much of my own time I had spent helping people with things that others are getting paid huge amounts of money to do.

      I am also realizing that I spend as much or more time preparing for a consultation than actually doing one, and I have to take that into consideration as well, which I didn’t really know until I started doing it.

      The key that hit it home for me was realizing that If I don’t value my own time, nobody else ever will.

  3. 22 June 12, 9:02pm

    James,That was a really valuable test. Just one thing about this formula that concerns me. Although some things, like articles and blog posts and doing some of the technical things may take time and not lead directly to revenue, they can build a following and clients can find you through that. Or you struggle with the technology for hours today, but months from now you can do that piece easily and it does not waste much time.There is a certain value in doing a lot yourself for awhile so that you learn how to do it and then gradually outsource as much as you can of the pieces that are not directly building revenue.Warmly,Dr. Erica

    • 22 June 12, 9:32pm

      Hey Dr. Erica. You have a good point, and it is also good to realize that this goal is an eventual goal, not where you will probably start. Most people I know, Myself included start doing all the work themselves. I did that myself with my business, and it gave me valuable insight into how much I value the people who do things for me.

      I really didn’t want to get into the specifics of a blogging business, since that isn’t the focus of this blog, and I have people coming from a wide range of businesses and many who are just employees in someone elses business, but I am actually working on a post for my IM blog on using this and how it applies to the business model, and specifically, how to break down the steps to outsourcing. Basically, I set up a 3 tier list of all my blogging tasks: direct revenue, mission critical but not direct revenue, and need to be done but not super critical to the mission.

      Everything fits into one of those 3 and if it doesn’t I ask if it is really necessary. Anything that doesnt fit is absolutely outsourced. then, the things in the bottom tier are outsourced, then the things in the second tier are outsourced, and finally, I hire people to manage the top tier for me, freeing my time up to work directly with clients.

      These tiers also determine whether I hire someone to handle them in hours or if they are outsourced to 3rd parties. Again, I have a whole post coming that explains the whole thing, but its a pretty in depth discussion.

      That is also my eventual goal, but it is a long way to go before I get to that point.

  4. 24 June 12, 10:19am

    I completely agree with your share . Mindset is the sum total of our thoughts and beliefs about life and the way suggested by you to master money mindset are indeed engrossing .The formula can indeed make a difference and you have aptly said that time has immense importance and should be valued. Nice share.

    • 25 June 12, 4:00pm

      Hi Purnima thanks for stopping by. This formula made a huge difference to me, and I hope it helps a lot of people realize where they are struggling in their business, and in their personal life with a lack of money.

  5. 26 June 12, 2:21pm

    Interesting thoughts. Often it is really tough to put a value on ourselves.

  6. 16 July 12, 2:17am

    This is an insightful share. The formula you have shared can surely make a difference. Mastering money mindset sounds like a great thing. Thanks for this wonderful post.

  7. 24 July 12, 10:58am

    Yup, it’s why I knew I had to try to break away from corporate work, Knew my time was worth more than the cost of a restaurant meal per hour.

    • 24 July 12, 1:35pm

      one thing I learned a long time ago is that nobody will ever pay you what you are really worth except for yourself. However, not everyone has the right mindset to be a business owner. Daily, I talk to people in my coaching practice who don’t have the right mindset to own a business, and they struggle.

  8. 28 July 12, 7:43pm

    Rich people all have one thing in common-they have mastered the money mindset. Right since their childhood they are drilled to think about money, and that is what rakes in the bucks when they eventually grow up. I am sure this formula you have described here will help many get started in thinking in the right direction. Thanks for the share.

    • 29 July 12, 4:44pm

      although many do master this mindset in childhood, not all of them do. In fact, I know many people who are now building great wealth who didn’t start until they were in their late 20s and early 30s.

      Personally, I just started understanding wealth in the last few years, and the changes that I have made recently to my own mindset, like applying this formula, have helped me make massive changes in my life pretty quickly.

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