When you work hard and make money, it is essential to spend on things that make life easier and more comfortable. Spending money to do better things does not make you poor. It can only make you richer because it is an investment. Often, I hear people ask, “is it possible to spend money and become rich”? The answer is YES. Richness is beyond how much you have in your pocket or savings account. Most of the time, we should try to do the needful to live a comfortable life. There are things that you need to be happy about when you are spending on them. Today’s post is to help you understand those things that you can spend on without fear of being broke.
As humans, we cannot do everything for ourselves, especially when you are a business owner or if you have a job that needs your attention most of the time. There are specific activities that we need to pay for to make life easy. For instance, some people are too busy to spend hours cleaning their homes. Such people invest in cleaning agencies, and they get the activity done. When you spend money in this manner, it is not a loss. This is because if you stay in an unclean house with your family, you are more likely to end up in the hospital. Whether you own a business or not, be willing to pay others to do things that you cannot do for yourself, which may result from a busy schedule. Those people are professionals on the job, and they know how to go about it easily. Yours may not be cleaning. It might be cooking; if you can afford the service of a professional, why not hire one?
Products that save time
Some people don’t like investing in gadgets, and they consider it a waste of money. However, if the gadget saves you time and makes life easier, it is an investment and not a waste. For instance, purchasing a gas cooker isn’t a waste of money because it saves you time and energy while cooking. When you see a similar product you desire, don’t hesitate to invest in it. You might need a dishwasher; go for it if you can afford it because it is not a waste.
There is no better place to get knowledge than reading books. A book is a store of knowledge and ideas. When you read good books, your creativity level will be increased, and you are likely to do better in your job and business. There is no successful individual who doesn’t read books. Most of the time, the solution to the problem is just a minute away if we can pick up and read that particular book.
Maintenance of household items
The main reason why we spend money on purchasing a household item over again is because of poor maintenance. People find it challenging to spend money taking care of their household appliances. However, if the money isn’t spent on maintaining it, double the funds will be spent to replace it in no time. Maintenance money should be set aside every 2-3 months. It is not a waste because it helps prolong the lifespan of those appliances.
Gifts for family and loved ones
One of the best ways to live a good life is to spend on people. I am not saying you should spend all you have on others. However, once in a while, it is healthy to get gifts for family members and friends. There is love in sharing and contributing positively to the lives of others just the same way they do for us. Be ready to give and buy presents for your kids on special occasions. Everyone wants to feel loved, and one of the best ways to express this is through giving.
A proper education
Money spent on acquiring knowledge can never be a waste. If you enroll in a school, it is a form of investment. The best form of investment is the one you make for yourself. It isn’t easy to survive in this world, but it is easier when you are educated and adequately informed of what is happening around you.
There are no two ways to do this; you have to choose between spending money on medical bills or good food. Money spent on high-quality food is never a waste because you invest in your health. Your food choice will determine how well you get to live your life.
To keep fit, you need to invest in a regular workout routine. There is no better way to do this than becoming a gym member. Working out alone can be challenging, but when we have people around, it can be encouraging. If you prefer working out in your home, you can pay for a personal trainer, or you can invest in some workout machines.
Travels and tourism
If you love travelling, it is a good thing because some fantastic ideas are born when one is on a journey. The experience and fun that comes from the trip are worth paying for. We need those experiences to learn more about the world we live in. If you are overwhelmed with work, why not take a break and enjoy a vacation? Who knows, you might become inspired, and there will be an increase in your level of creativity.
Invest in your mind
When investing in your body, don’t forget to invest in your mind. Investments made in your minds will help increase your wealth of knowledge, and you will get answers to your curiosity. You cannot invest in your body physically and forget your mind. For instance, you can take a trip to the museum, it helps to clear your head, and you will be able to appreciate art and culture. This will give you a new view of scenarios, and you will be able to hold a better conversation at work.
When you work for your money, don’t forget to invest in self-care. Most people break down because they don’t allow themselves to breathe a minute from work. How you take care of your body will determine how well the body will perform. Don’t be afraid to spend money on your well-being. You cannot give your best to your work when your body is not at its best. If you don’t invest in self-care, what else do you want to spend your money on? Without self-care, you will lack the energy to carry out your daily assignment. Ensure that all aspects of your life are balanced. Don’t allow the stress from your job to get the better of your mental health.
Spend on your future
While living in the present, we cannot neglect the future because the future belongs to those who consciously prepare for it today. Be willing to spend on investing in your future. There is peace of mind when you know you are secured. When you come across opportunities, you won’t be afraid of trying and doing your best because you have what it takes.
Invest in your network
The people you network with will determine how successful you will become because they will contribute to your growth and development. If you want to be richer, you should be ready to join a successful group of people who have the same goals as you. Spend money, time and energy on connecting with people. Most successful people didn’t work all night because they were in the clique of successful people. That is the importance of networking, you will be guided, and you will also guide others.
Multiple sources of income
The money you have presently will not increase if you don’t invest in creating several sources of income for yourself. One of the easiest ways to be wealthy is having income from more than two sources. Invest in different means to enjoy passive income. Use your active income to generate a means for that to happen. Active income is your paycheck. It is the money that you work for every day, while passive income is the money that comes without you working every day (this includes investment in stocks and rental properties).
Having a warm place to call home is the dream of everyone. When you are ready to take that step, don’t hold yourself back. You deserve a warm and comfortable home as a reward for your years of hard work. It is crucial to have a place of your own. This decision prevents you from spending money on rent each month, and you don’t have to be scared of becoming homeless when you don’t have money.
Invest in owning equity
Be willing to invest in having a share in a reputable company. There are times that companies want to raise finance, and they do so through the sales of shares. When you come across such an opportunity, do proper background research on the company and proceed to own a share. This will be a long-term investment, and sometimes in the future, you will thank yourself for the decision.
Invest in good clothing
When you buy nice clothes, you are not wasting money. You need to look good and smell nice. With little money, you can buy what you can afford at the moment. Buy good quality clothes and buy deodorant; this is never a waste of money. You don’t have to spend a ton of money to have a good wardrobe. Make a budget and stick to it. Quality clothes are worth the investment because what you wear will speak more about your personality. They make you feel comfortable and increase your self-esteem.
Invest in online courses
If you want to learn more about financial management, go online and take courses. There are millions of courses out there that you can take at your convenient time. Learn how to budget, save and invest. Don’t hesitate because you cannot properly manage money if you don’t understand how it works. If you are not willing to pay to learn, the chances are high that you will be wasting money and time trying lots of things that will work.
Donate to charity
When you donate to charity, it increases your happiness because you are contributing to the betterment of society. Giving to charity is an act of gratitude. You don’t have to give out your entire fortune. You can donate clothes you no longer wear and shoes. The environment we live in will become a better place if everyone practices selfless acts. When those who live around us are happy, it is easy for us to feel true happiness. In any situation you find yourself, be kind and choose to give the little you can.
Invest in retirement plans
Wherever you are right now, it is not too early for you to search for a good investment option. You need to spend money to have a secured future. This will help you enjoy the years you will spend after retirement. Individuals have different things they want to invest in; it could be stocks or mutual funds. Whichever option you choose, it will be best to remember that you don’t go poor when you invest because your investment is your security.
If you are reading this, it means that you stayed with me till the end. Here is an extra point to show my gratitude.
Start a business
If you don’t have a business, spend money on building one. If your goal is to be financially independent, you cannot continue to work for a paycheck. Your paycheck will answer your monthly needs, but it cannot build the wealth that you desire. Be smart with your money and freely spend on expanding your business if you have one already.
Finally, note that when you spend money on the list of things above, they are never a waste. They are all worth it. The rich are not afraid to spend, but they spend wisely. How exactly are you spending your income?
If you enjoy this post, don’t forget to like, share and let us know your view in the section below. Kindly check out also our related post on “The Right Way To Set Goals For Success“.
Recommended books for further reading:
- Good Vibes, Good Life: How Self-Love Is the Key to Unlocking Your Greatness
- Happy: Finding joy in every day and letting go of perfect
- The Self Confidence Workbook: A Guide to Overcoming Self-Doubt and Improving Self-Esteem
- Zero to One: Notes on Start Ups, or How to Build the Future
- Measure What Matters: OKRs: The Simple Idea that Drives 10x Growth