This one word can change your financial future - and your life

(I am not a financial advisor - these are words of wisdom)

This is not about how to get-rich-quick, nor is it the only blueprint for success. It is, however, a key component of leading a richer, more fulfilling life.

When it comes to success in business, we're all familiar with the following:

Who to listen to - Follow the path of the most successful people like Warren Buffett, Bill Gates or John D. Rockefeller.

What to listen to - The way they speak, the way they present themselves and their knowledge.

Why listen to them - They are in life where you want to be.

How to listen to them - There are many books, podcasts and articles to gain this information.

And of course, you need to be consistent and disciplined, and follow a carefully thought out game plan.

But one word that is missing from all of this and never gets discussed enough is...Value. No matter which component of the above you are talking about, you must ask yourself "Am I getting any value out of this? Is it worth my time?" Time is the most precious commodity we have. No matter how much money you make, you can never get back the time you spent. Whether it's business or watching a game or reading a book....anything really, you must ask yourself these questions.

So, how does this relate to finances? To life?

If you are trying to cut your spending, before you purchase anything, ask if what you are buying gives you value in return. Do you really need that? Because that represents a number of hours working at your job. Think about it. You work all day and in some cases all week just to say I need to buy "that". Instead, delay gratification and invest that money wisely.

In life, the same principle applies. You come home from work, sit down and watch TV. Is that the best use of your time? Does it add value? I'm not suggesting that we all don't need to decompress from time to time, but to watch TV for hours on end? Set an alarm to limit your time, then do something that adds value to your life. Take a walk, read a book, spend time with your family and friends.

And finally, maximize the value of you. Create the best version of you and in the process you'll become more valuable to your career or business. Consume education, experience life and find ways to give your time to worth-while causes. This directly and indirectly reflects in the compensation you receive financially as well as improving your life.

Put value into your life and you will get value in return.

Remember, you can always make more money but you can't make more time. Add value to your daily thoughts in the morning and watch your life transform.