So, now we're back to our series of Elf Tips. Today's topic: Scheduling.

Contrary to popular belief, our most precious resource isn't money. It isn't even food, water, or shelter. It's time. So why do we treat it so cavalierly — wasting it instead of spending it wisely. Now, this doesn't mean that you need to be busy all the time. In fact, time spent sitting listening to a loved one's stories or playing with a child or just resting is time very well spent.

But how do we balance all of the competing interests for our time?

The first step is deceptively simple: You need to prioritize those competing interests. Likely, you do need to remain gainfully employed. (If you are independently wealthy, would you like a personal blogger? If so, please call me!) For the rest of us, our work time is a priority commitment. But what else? You need to write things down and add realistic estimates of time for each one. And don't forget sleep! If you aren't sure how you spend your time, devote a week or two to keeping a log. You might be surprised by what you find.

For example, your week's allotment of time might look like this:

• Sleep – 35 hours
• Work – 40 hours
• Commute – 6 hours
• Basic household tasks – 15 hours
• Eating – 9 hours
• Bathing and assorted grooming – 5 hours
• Exercise – 5 hours
• Errands - 5 hours
• Religious observance – 4 hours
• Driving children around – 5 hours
• Community meetings/volunteering – 3 hours
• Overseeing kids' homework – 6 hours

That still leaves 30 hours a week — more than 4 hours a day. Once you have the essentials in place, you can start deciding how you want to spend the remaining time. You may want to look at that by the month. Maybe you want to spend 4 hours a month on a larger house project. Or you want to entertain once a month. You know what matters to you.

Of course, your schedule may change based on the season (gardening and lawn mowing, anyone?) or by family needs (college visits with a high school junior or play practice for the drama-inclined). Once you have the basics in place, you can be flexible about the rest. But I still recommend writing it down. The touchstone of a written document is more valuable than you might realize.

Of course, the true challenge arises when you try to schedule more than 168 hours in a week. At that point, something has to give. You may need to find help with some basic tasks: getting a cleaning person in or dividing chores among family members, working with a friend on carpooling kids around, having groceries delivered, or even giving up an activity or two.

Only you can decide how to spend your time. Just make sure that it reflects what is important to you!