Now that it is clear that your ability to sell and close or your skill in persuasion would help you to write your paycheck, it’s the best time to start and be inspired. Whether you’re working in a company or running your own business, be motivated and make a move. But what if you’re in the stage where you’ve already earned your first salary or income? What should be your next move?
The Art Of Investing
See, you have plenty of options where and what to invest. However, the choices you make are your responsibility that affiliate with a positive or negative consequence to it. Assuming you earned around $1000 per month. You must be really happy and excited to invest what you’ve earned for it to prosper and in return, would give more money. But, what kind of investment are we talking about exactly?
To lay it out for you, decide whether you would (a) make it as your leisure money, (b) Invest it for a long term and, (3) Pay your debts. When sorting each choice, always consider not just its present benefits but its long-term results as well.
Leisure Money
It’s true that after you suffer from long work almost every day or 5 times a week, you’d want to do or buy something pleasing in the eyes. You could probably go shopping, go to a relaxing center, treat your family and friends, go out and date yourself or something like that. However, if you blow or spend all that money, there’d be no return of investment. You work, you earn, you spend and the cycle repeats itself.
Investing for Long-term
You may now be thinking of plans with yourself or with your family. Years from now you could ask: ‘Where do I want to see myself? How much should I invest to have a comfortable life ahead?
If we’re talking about plans, you might probably think of buying mutual funds, cryptocurrency, and thereof. There’s nothing wrong in creating future investment yet would it be the first thing you’re going to do right after you get your paycheck? How much difference does it actually make?
Paying Debts
You might be suffering from a huge amount of debt for a very long time and earning as much as $1000 would give you a boost in paying all of it especially those with a high-interest rate such as credit card for instance. But if you calculate your current income, how long does it take for you to pay off all your debts? Would it really lighten your financial situation or it would just hinder you from investing or in earning more? Chances are in a very long time!
Income problem or skill problem
So you might wonder ‘what should I do then?’ ‘What is there to consider?’ Just as the recent news said, huge companies are not focusing on your educational attainment any longer; they were now hiring people with skills. And this is something that you weren’t born with. It’s something that you need practice, improve and gain knowledge with. Manage the differences with your income problem to your skill problem.
People are studying in order to earn a degree and if fortunate enough, they could learn skills along. On the other note, there are those who are glad to skip 4-year programs and focus ahead on acquiring skills.
Focus On Your Skills
What you can do next is to “Invest the money for yourself”. Yes, you heard it right! And no, it’s taking it out on a pleasure but it’s actually the opposite. It only means to attain a reasonable amount of skills in improving yourself. You could probably start by buying some books in a specific field that you wanted to focus on such as communication skills, personal development and such. You could also get a short course or pieces of training that could help you improve and learn as well. Calculate how much you’d have to spend in learning a skill rather than actually investing with something big already without any foundation of your income to stand on its own.
It’s best to remember that there are no valuable skills in exchange for more money. Investing for yourself is the best investment you could take at first. This belief and action can deliver more money in the marketplace and in exchange, you could generate more income that would help you grow further in your secular life.
Let’s say that because of this, you doubled your income already. From $1000 a month raised up to $2000. Instead of $12,000, this could range up to $24,000 per year. Now tell me, what kind of investment would give that much kind of return? None at all! You can earn income from something that you learned. It’s your treasure that no one can take away from you.
Imagine the number of opportunities opened for those who have skills? Your regular job could stay but there are those who are willing to give you a convenient time in working with them. In case a part-timer or a freelancer, at the end of the day, you’re going to be in demand. You’re going to be the one who will decide whether it’s worth to work for a certain person or a company or not. You don’t have to chase after them. They’re going to chase you!
