I’m not crazy about the word budget but when it comes to certain things I want to be absolutely sure I have money set aside to invest in what I view as the most important thing I can invest in.
Of course I invest my money in the stock market, but investing in this one thing other than the stock market has made me more money over time than the markets every could.
So what is this thing, you ask?
Well, in a word, it’s ME which includes investing in my personal growth, my career, my hobbies, my health and my fun.
Let’s be honest here, investing in the stock market is boring for most people. It’s a long term proposition. Yet it can yield some fantastic results over time.
But investing in the best stock out there will not yield as great of results as investing in yourself.
For example, perhaps you invest in going to college which leads you to a fabulous career. That is a fabulous investment.
Or, like me, perhaps you didn’t invest as much money in formal education as you did in life-long education by reading books, attending conferences, taking online classes, hiring coaches, and learning from the best and the brightest in your field and in life.
Honestly, I have no idea what I’ve invested in myself over the years but I can guarantee you I wouldn’t be where I am today had I stopped investing in myself at the age of 18, or 22, or 30.
YOU are your most valuable asset and that’s something to budget for.
Most budgeting software I’ve seen doesn’t include things like books, family adventures, self-care, online education, life coaching, conferences, health, spiritual growth, fun and relaxation.
These are things that you might want to consider adding to the list when it comes time to allocate your spending.
Why? Because, as they said in the movie Shawshank Redemption, “you can either get busy living, or get busy dying.”
Living is about growth.
So what are you doing to continue to grow? And do you set money aside monthly to ensure you can invest in your most important asset? (YOU!)
If not, create an “Invest In Me” category, or break it down to the categories I mentioned above.
If you don’t believe this is important, just follow my line of thinking for a moment — you get out of college, continue to invest in your career, become an expert in your field, and are sought after for your expertise and your wisdom. Don’t you think you will earn more money (and feel more fulfilled) than the guy or gal who graduates from college and just shows up for the paycheck each and every day, counting the days until they can retire? Of course you will.
Or perhaps you went to college for one thing, but really deep in your heart want to do something else. Don’t you think life would be better if you got the training and expertise you needed to do that thing you love? You bet!
Or perhaps you’re comfortable with the paycheck you earn and your meaning in life comes from your family, your hobbies, taking care of your health, etc. Don’t you want to be sure you have money available for those things?
Never stop learning. Never stop investing in yourself. Never stop taking care of yourself, in every way possible. The result of doing these things will cause a ripple effect to everyone you care about and everyone you meet.
It’s that important.
And so are YOU! Invest in yourself today.
As for me, I’m off to sign up for more piano and voice lessons.