Time management is about effectively allocating the right amount of time to the proper activities. It is important for several reasons such as saving time, reducing stress, functioning effectively, increasing productivity, and gaining control over responsibilities. Some effective time management techniques include setting goals and deadlines, prioritizing tasks, delegating work, and planning each day in advance through to-do lists. Good time managers are organized, avoid wasting time, focus on one task at a time, and use tools like planners to better structure their schedules.