Self Investment - the best kind
Frugal people are investment oriented, especially self investment. It's one thing to carefully consider a financial transaction as an investment, but what about investing in you and your future.
It's coming you know - the future. You might as well be prepared for it.
There are any number of ways of investing in yourself. You can invest in yourself by buying fresh organic produce. It could also be an investment in your wealth, like taking out a certificate of deposit.
Another type of self investment is a flashlight or emergency kit for your car – an investment in your safety.
Whatever the investment, consider whether it is a true investment in you and does it support your overall goals in life. If it doesn't, it might not be an investment, but rather an expense.
Life isn’t without expenses, but address investments in you first and foremost, then consider spending on other things.
If you aren’t making self investments, then chances are good that you're investing in someone else and their future.
Corporate Investment Tip
I'm not an investment guru, so you don't have any business listening to what I might suggest in terms of stocks to buy, but I can tell you that the only investment in a company that I'll ever make for the rest of my life is a company that I own a piece of and serve as a part of.
What better self investment is there? Perhaps you create the company, manage it, recruit employees and associates and keep an eye on the books. Things could go wrong, but what better way to make certain things go right?
It's the ultimate in "minding your own business." It'll likely be the only place you'll ever work where you control costs, profit margin, revenue streams and work hours. And, the boss will be easy to get along with.
Just think, you'll never get laid off, fired, downsized, rightsized or given a "talking to." And, you'll be right on top of your investment interests.
If you're interested in starting your own business, take a look at some ideas I've put together over at Sensible Small Business Ideas where you'll find profiles of home based and small businesses that others have started.
The Bottom Line
Make investments in yourself first and foremost. Whether it's to be prepared, for self improvement, or for the sake of being more self reliant, an investment in you and your future is always a better idea than investing in someone else's future.
Just think of other types of investments as handing people money and crossing your fingers, because often that's exactly what it amounts to.
If you're going to put your eggs in a basket, make certain it's a basket you can protect, and then guard that basket.
Done with Self Investment, back to Are You Frugal