Do you know what isn’t fun? Investing. Why? Too many acronyms. ETF, IRA, CD, DPS, EBIT — what are you and what do you want from me?
But never fear, guys, I totally found an investment that (a) is not confusing and (b) is not the most boring thing on the face of the planet.
Ourselves! The best investment you can make, is in yourself. Here are 5 steps to invest in yourself and change your life.
1. Get out of debt!
Start now! Debt is no fun at all and it is dragging you down — I should know, I have a bunch of it. Until you are debt free, your money is not truly yours.
Eradicating your debt — especially credit card debt — is your first step in controlling your finances so they can’t control you. Then you’ll become less stressed, sleep better and have more peace.
If that’s not investing in yourself, I don’t know what is.
2. Save some cash.
Whether you call it a Freedom Fund or a Dream Fund, you need to save up some cash. Why? To give you the freedom to quit a job you despise or move overseas — no big deal.
Actually it is a big deal. It’s a HUGE deal!
Having extra cash for both emergencies and possibilities is an amazing investment in yourself. For starters you can improve your financial profile by opening a tax-free saving account.
Those dreams you shelved when you accepted a life of financial chaos can become realities with a little financial planning, budgeting and self-control. Sounds awesome, yeah?
3. Invest and earn in style.
Spread betting, and indeed CFD trading, have many benefits which add up to make it one of the fastest growing forms of trading around. Most online spread betting transactions are made in under a second.
This enables you to perform as many transactions as you like, get in and out of a market quickly, and check their progress, particularly when using a spread betting app on your phone, takes just a few seconds each time.
Unlike normal stock trading, which only allows for the time the FTSE is open, you can trade at any time of the day for most markets. You can also trade on foreign markets which operate in different time zones.
With both CFD trading and spread betting, you don’t have to pay any Stamp Duty whilst spread betting profits are also free from Capital Gains Tax. if you don’t know how to spread bet, there are many spread betting tips, and you can spread bet on PC, laptop, tablet pc or by phone using a spread betting app.
There are over 12,000 different markets in which you can make transactions. If you have extensive knowledge of at least one of them, then you’re able to bet on whether that particular stock, market or commodity will rise or fall.
4. Find a financial planner.
Your path to investing in yourself doesn’t have to be a solo trip. Find yourself a good financial planner to help you wade through the aforementioned confusing acronyms of investing so Future You can sleep easy and doesn’t curse Current You under their breath.
A financial planner will often have your best financial interest at heart, and can direct you towards a future of wealth and stability.
5. Get a business coach.
A business coach is a person that will help turn your business into what you want — a successful and thriving venture.
When you work for yourself, you need someone on your team, who can figure out what’s working and what’s not, what’s valuable and what’s not. A business coach can be your biggest advocate!
Most importantly, they will help you figure out how to make your dream business a reality. I know it’s difficult to part with your hard earned cash but a business coach may be the very best investment you can make in yourself and your business.
I’m telling you, it will pay for itself quickly.
Bonus Tip: 6. Insure yo’ self.
Insurance is totally boring, I know. Like I’d rather get a root canal boring. However, it is also necessary. While assuming the best is a great way to live, preparing for the worst is the prudent way to live.
The basic insurance types everyone should have includes — life (for those with dependents), auto (provided you have one), homeowner’s/renter’s, and medical.
Protect yourself and your family should Murphy come knocking
An investment in yourself is the greatest investment you can make. I think you’re greater than all the REITs (Real Estate Investment Trusts) in the world, whatever that means.
Invest in yourself for a happier present and a brighter future!
How will you invest in yourself today?