Macroeconomic Bulletin with Maxwell Ampong…The ultimate time management lesson: Time asset vs. Time debt

Maxwell Ampong is an Agro-Commodities Trader and the CEO of Maxwell Investments Group, a Business Solutions Provider.


On my growth trajectory, I am fast realising that the best way to absorb the wisdom of those that are ahead is by getting answers to the “why” and not the “what”. Because the why’s get you how they think, the why’s are like an algorithm that can solve not one specific problem but a set of them, even if it spits out a different version of “what” you are to do from “what” they are doing. Get it?

The most productive men and women in the world often speak about the importance of time management. We keep asking them “what” their time-management routine is because I guess most people (me inclusive) usually think if we copy exactly what they do during their day, we can then be as productive as them, or close, even though we all live different lives. The main advice in most time management sessions is that you have to squeeze as much from the 24hrs in a day.

I tried it. It didn’t work, at least not the way I thought it would. The “you have 24hrs, make the most out of it by spending as much time on the job” didn’t make me as productive as I thought it would. Oh but it kept me busy, very busy. I have learnt that by merely doing more, you create more to do which creates more that creates more and like a virus, all your time starts getting eaten up.

So I looked to the man I usually look to for Productivity gems and he did not disappoint. James Clear reminds me of my friend Alan. He’s all about systems. When a system doesn’t work, then it doesn’t work. A working system frees you to do other thing without neglecting what’s at hand. Because when a working system works, you work. Get it?

That’s what I am currently attempting to implement, a version of Time Management that is all about systems taking over tasks. I am attempting to create systems so you can spend time on other things rather than fixating on mundane repetitive tasks. For instance, I want to be productive while spending more time with my wife and young daughter and so far, so not bad at all. It’s working.

Enjoy this James Clear article reproduction. I hope it flicks a switch for you as it did for me.

Enjoy! Good morning.


A Different Way of Thinking About Productivity

Late in his career, Steve Jobs famously drove his car without a license plate.

There were all sorts of theories about why Jobs decided to drive without tags. Some people said he didn’t want to be tracked. Others believed he was trying to make a game of avoiding parking tickets. Jon Callas, a former computer security expert who worked for Apple, revealed a different reason.

According to Callas, Steve Jobs discovered a loophole in the California vehicle registration laws. Anyone with a new car had up to six months to get a proper license plate for their new vehicle. During the first six months, however, you could simply drive the vehicle without a license plate.

Once he realized this, Jobs arranged a special leasing agreement with his Mercedes dealer so that every six months he would drop off his current car and receive a new Mercedes SL55 AMG to replace it. This meant that he never drove a car older than six months and he never had to go to the Department of Motor Vehicles to get a license plate.

After hearing the story, many people responded by saying something like, “I guess that’s what you do when you have a lot of money.” And, to be fair, it is true that this license plate strategy isn’t reasonable for most people on the planet. If you look deeper, however, you’ll notice that something else was happening: Steve Jobs was building a Time Asset.

Time Assets vs. Time Debts

Most productivity strategies focus on short-term efficiency: how to manage your to-do list effectively, how to get more done each morning, how to shorten your weekly meetings, and so on. These are all reasonable ideas.

We often fail to realize, however, that there are certain strategic choices that impact our time on a larger scale. These choices can be categorized as Time Assets or Time Debts.

TIME ASSETS are actions or choices you make today that will save you time in the future.

Software is a classic example of a time asset. You can write a program one time today and it will run processes for you over and over again every day afterwards. You pay an upfront investment of time and get a payoff each day afterwards.

The car leasing system that Steve Jobs developed is another example of a time asset. It took him some time to find a loophole and arrange a repeatable leasing system, but his process rewarded him with additional time and less hassle every 6 months.

TIME DEBTS are actions or choices you make today that will cost you additional time in the future.

Email is a time debt that most people participate in each day. If you send an email now, you are committing to reading the reply or responding with an additional message later. Every email you send creates a small debt that you have to pay back at a later time.

This is not to say that all time debts are bad. Perhaps you enjoy serving on your school committee or volunteering with a local organization. However, when you make these commitments, you are also creating a time debt that you will have to pay at some point. Sometimes the debts we commit to are worth sacrificing for, many times they are not.

Time Assets in Real Life

I wrote down a shortlist of time assets and time debts for my business. Here are a few I came up with…



  • Speaking. I can create a speaking page on my website that answers common questions and qualifies the right kind of people. This could include a descriptive Frequently Asked Questions section or a better sign up form. The goal of the system is to set clear expectations and answer common questions that I usually have to answer via email.
  • Accounting. By setting clear rules for my bookkeeper and accountant, we can develop a system for automatically tagging certain expenses and transactions each month, which minimizes the need for me to manually approve repeated transactions.
  • Scheduling. Booking calendar appointments, calls, and interviews require a lot of emails. Using scheduling software eliminates this problem and lets people choose from a pre-selected list of available times.


  • Email. The more email I answer, the more email I generate.
  • Comments. I like the comments on my site and I don’t plan on removing them. (I love hearing from you!) But every time I publish an article with a comments section, I’m creating a time debt that I have to pay back by approving and moderating comments.
  • Interviews. At first, I said yes to every interview that came my way. Today, I typically do 3 to 5 every week. Saying yes to every interview has become a time debt.
  • Low quality work. If you don’t edit your article now, you’ll have to fix the grammar later. If you write sloppy code now, you’ll have to debug it later. If you create a poor product, in the beginning, you’ll have to serve customers and process refunds later. Every low-quality piece of work is a time debt that you have to pay back. To quote John Wooden, “If you don’t have time to do it right, when will you have time to do it over?”

A System For Your Time

Systems are more important than goals, and Time Assets are a perfect example of why this is true. Each Time Asset that you create is a system that goes to work for you day in and day out.

If your schedule is filled with Time Debts, then it doesn’t matter how hard you work. Your choices will constantly put you in a productivity hole. However, if you strategically build Time Assets day after day, then you multiply your time exponentially.

Driving a car without a license plate might seem like an extreme way to save time, but it is also a level of strategic thinking that most people never embrace. This isn’t an approach that only works for Steve Jobs. It works for all of us.

Time Debts need to be paid. Be careful how you choose them. Time Assets pay you over and over again. Spend more time creating them.



This whole piece has been a close-to-verbatim reproduction of a James Clear writ on a similar topic I read last month. I have decided to reproduce one of his clever pieces every few months, clearly citing him as a source and author with a closing paragraph like this one.

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Have a lovely week!

Maxwell Ampong is an Agro-Commodities Trader and the CEO of Maxwell Investments Group, a Business Solutions Provider. He is also the Official Business Advisor to Ghana’s General Agricultural Workers Union of the Trade Union Congress (TUC). He writes about trending and relevant economic topics, and general perspective pieces.

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