When you think of what it means to be rich, you may think of having a lot of money or not having debt.
But taking control of your time and allowing yourself to do what you want with it is another part of living a rich lifestyle, says self-made millionaire money expert and author Ramit Sethi.
“If you can ‘enrich your time,’ it means you have the luxury of spending it doing the things you love,” he told CNBC Make It.
When Sethi was young, his father would always answer the phone and talk as long as he needed to when his brothers or sisters called him while he was at work. This, he says, is “a perfect example of how time is abundant.” “I know I can spend the luxury of time for things that are important to me.”
“Anyone can strive to enrich their time, not just those with flexible schedules or who can afford to outsource tasks like shopping or cleaning,” Sethi says. Here’s how:
Deciding on “non-negotiable activities”
The first step to enriching your time, says Sethi, is to create a “time freedom map” that outlines the “non-negotiable activities” you want to prioritize each day, week, month, and season. From there, block out vacation time for each thing on your calendar.
It doesn’t necessarily have to be a large and expensive activity. Daily necessities can be as simple as your morning cup of coffee or tea, without screens, Sethi suggests. The key is to promise yourself not to add other distractions or obligations to these activities.
“No one stumbles into these situations by accident. You have to make it happen,” he says.
A good way to start is to get into the habit of following small daily habits and then work towards seasonal commitments, Sethi says.
“Money certainly plays a role, but it’s not the only role.”
While having more time may be easier for people with enough disposable income to pay for things like child care, housework, and grocery delivery services, Sethi says that doesn’t mean it’s impossible for people on a tight budget.
“Money certainly plays a role, but it’s not the only role,” he says. “If you can’t afford to go on a quarterly weekend trip from a time or money perspective, that’s fine too. Many people can’t. But can you afford to set aside 15 minutes in the morning to capture that one beautiful moment you’re grateful for?”
These small moments of joy can make a big difference, he says. Even something as small as an afternoon snack can add something to look forward to each day and give you more control over your time.
But if possible, Sethi says, don’t be afraid to buy back your time by paying for services and convenience. It could be as simple as spending an extra $50 a week on pre-chopped vegetables or adding on a babysitter so you can have a date night with your partner, he says.
Research shows that spending money on services and things that save you time can lead to greater life satisfaction.
“If you pay someone to do something time-consuming that you don’t want to do, spending that extra time with other people can increase your sense of well-being,” happiness expert and Harvard professor Arthur C. Brooks wrote in The Atlantic in 2021.
Americans are often willing to pay more for services that save them time. A 2023 LendingTree study found that 65% of adults who said they used services such as online shopping through delivery services, restaurant and grocery delivery, and ride-sharing apps said they were willing to spend extra money to save time.
According to the survey, people with six-figure incomes are most likely to use delivery services to save time, but 44% of respondents also admitted that they spend more on those services than they can afford.
Want to use AI to advance your work? Sign up for CNBC’s new online course, Beyond the Basics: How to Use AI to Supercharge Your Work. Learn advanced AI skills like building custom GPTs and using AI agents to increase your productivity today. Use coupon code EARLYBIRD for 25% off. Offer valid from January 5th to January 19th, 2026. Terms and conditions apply.
