Investing in Yourself
Why is this section about spending money when all anyone says about managing money is how to save and invest in the market?
Well, ever heard of the saying you’ve got to spend money to make money? Getting the most bang for your buck is always good but that should never stop you from getting more of those dollars by investing in yourself. Compounding your money doesn’t just apply to interest rates or market returns, expanding your skill-set and creating a bigger stream of income is one of the best things you can do to achieve your financial goals faster.
Organize your time: If you’re going to explore different avenues to create more money for yourself, it starts with figuring out where that time is going to come from. It’s easy to ask “where has the time gone?” when you actually have no idea where it’s going. Whatever calendar is good for you, make daily and weekly plans to figure out exactly how much time you can create for yourself. Even leisure time, I’m not kidding, put it in there. If you haven’t been doing this, you’ll be surprised with just how much of the most valuable commodity -- time -- you can find.
Prioritize your health: Take care of your mentals, take care of your physicals. In arguably the most challenging time of our collective lives, it can’t be stressed enough just how much feeling good about yourself can help you perform at work or even build the motivation to look for more out of your work. Going to the gym is a no-go right now but don’t let that stop you from going for that run outside or getting creative at home. Tele-health has seen a boom during the pandemic and places like CAMH and CMHA are good resources to find the right mental help you may need.
Expand your skill-set: Whether it’s showing your client or boss that you can do more for them, using learning resources available at sites like LinkedIn Learning (formerly Lynda.com), watching “How To” YouTube videos, or even learning a new language, seriously consider the ways you can provide a better value proposition to whoever you’re trying to earn more money from.
Be a passion boss: Let’s be real, for one reason or another not all of us are lucky enough to do exactly what we love as a career. But that doesn’t mean we can’t make time for it at all and create our own value in it. Whether you love painting, gaming, carpentry, or whatever it may be that gets you into that flow state, you’re doing yourself a disservice if you don’t find full value for your skills in the era of the gig economy. Take pride in your hidden talents, put a price on it, and have fun seeing what comes of it.
The same way your investments can do wonders for your net worth over time, a little time and money towards yourself can reap huge rewards in the long run. Secure those bags!