Staci's post about investing in education got me thinking: What other ways can folks invest in themselves?
Education is the obvious investment for this community to talk about. By gaining knowledge in a specific field you make yourself more marketable. Plus, higher education can mean higher salaries – a definite benefit to the initial investment. Here are some other ways you might consider investing in yourself during 2009 and beyond:
- Additional education: Wait, didn't we just talk about that? Yes, but it isn't just those two- and four-year degrees that are an investment. You can also invest in yourself by taking a class here and there to boost a certain skill set, like increasing your computer efficiency or learning a foreign language. And don't forget free seminars—they're great because you're investing in yourself without paying for it!
- Savings: Pay yourself first. This concept (to allocate money to savings before making other purchases) is a great investment. Whether you're saving for a goal or saving for emergencies
, by remembering to set aside part of your income each month can really add up. You can even save automatically. - Health: A popular New Year's resolution is to eat healthier or get into shape. That's a good investment choice, resolvers! Staying healthy means less chances of injury or sickness and, chances are, less medical bills. However, remember Staci's recommendation to make your resolutions realistic. Eat out one less time a week. Take the stairs instead of using an elevator. Whatever you feel you can stick with.
- Retirement: To round out the possible investments, how about a traditional investment? We're talking IRAs and 401ks, folks. Even though retirement is a long way off for most of you readers, it's never too soon to start planning for it. The earlier you begin investing, the more you have to show for it once the time comes to retire. More time = more money.
Keep up the good work!
Ditto on the savings! This was my resolution last year and I'm having a do-over this year. Last year, I was amped to save all kinds of money, so I set an auto transfer of a little too much to come out of my checking to my savings each month. Much to my chagrin, I ended up just moving it back to the checking to cover things I needed it for. It took me about 6 months to find a savings transfer that fit my life, while still allowing me to save. Like Saci said about making resolutions realistic, you should make your savings realistic as well. Even $25 a paycheck can add up, trust me- it works much better using an amount that you can end up KEEPING in there rather than constantly having to move it around.
Thanks for your artical, i learn very much .