Lifeli uses the same principles used by billions of people worldwide to manage their finances. It is the one and only trusted way to manage your money. We make use of the principle of budgeting.

Financial Budgeting

Budgeting is often used when there are few resources available that can be used to accomplish multiple things. In money management, budgeting is used because most of us have a limited amount and it can be used to purchase anything.

We budget our money by first allocating it to the most important things. In most cases, that is rent or/and food. What we have left gets spent on the less important things like entertainment until we have none left except we decide to save some.

Time Budgeting

Within the Lifeli app, we applied the same financial budgeting principles to create time budgeting. After several years of research, we realized its importance in life management, time management and energy management.

There are two activities that make budgeting possible: planning and tracking. Planning has to do with the allocation of resources while tracking focuses on the measurement of used resources.

We plan by allocating our resources to specific tasks/goals then we track to measure if we lived up to our allocation plan. We repeat this plan and track cycle until we achieve the desired result. Budgeting is a simple and effective way to manage limited resources.

Time Blocking

Time blocking is the act of allocating a specific amount of time to a specific kind of activity. This is similar to allocating money to a particular item. For blocking to be effective, we need a categorization to group similar activities together.

In financial budgeting, we have financial budgeting categories like rent, entertainment, food, utilities e.t.c. None existed for time so we created Time Budget Categories to make time budgeting possible. We plan our activities in 30min increments.

Time Tracking

Time Tracking has to do with measuring the amount of time spent on a specific activity. Basically it is expense tracking for your time. Within the app, time tracking feeds into our lifestyle data analytics which measures progress and provides lifestyle insights.

In addition to this, the app’s pie chart measures time spent in all ten event categories, while the bar chart measures time spent in specific activity categories. It also feeds data to the activity counter, habit tracker and Life Score. We track in 30min increments.

Summary

Blocking & Tracking is what makes time budgeting possible. Download the Lifeli App to start using the same principles you use to manage your money to manage your life, time and energy while accomplishing your goals.