Image: https://www.eea.europa.eu/soer-2015/synthesis/report/images/c-alexander-goranov-environment-me-eea
Imagine insuring your vocal cords for millions of dollars. While the thought of spending an inordinate amount on an insurance policy that would cover this body part seems wasteful, even decadent, many singers insure their vocal cords just in case they can no longer sing. Alternatively, millions of graduates walk across the stage willingly owing over hundreds of thousands of dollars in student loans because they understand that having an education is key to their future.
Sure, any body part can be insured for far less, and one can earn a degree without the debt, especially today when so many other avenues are available to learn. Many would say spending more than the necessary sum on anything is downright lavish, but in fact, those who are willing to sacrifice have realised is they are investing in their future, and more importantly, themselves. While it might sound crazy, pouring money into ideas – no matter how crackpot – education, projects, or any other means that will help you reach your goal is the best investment you can make, and for a number of reasons.
Read more to learn why investing in yourself is the best investment you can ever make.
Invaluable Skills
The thought of taking out a personal loan by Latitude, or any finance company for that matter, to attend a cooking school in another country might seem extravagant. As a student in the program, you will learn how to prepare dishes from the locale and learn new techniques for preparing the area’s local favourites. However, if you are not a cook and never aspire to be one, while you might not ever see yourself cooking for more than just your loved ones, there is the chance you can draw from these skills in other ways.
In fact, every day people invest in courses, conferences, online tutorials, and in the moment, the time devoted to learning a new skill might not seem important. However, many have the experience of learning something and then drawing on that skill later on. In the case of the cooking class, this program could potentially change your view on food preparation later down the road. Sometimes, the fruits of personal development, while seemingly frivolous at the time, do not materialise until much later.
Earning Potential
Probably the most obvious reason investing in yourself has a guaranteed return-on-investment is because whatever skill or experience you have can be translated into income. For example, ask any professor with a graduate degree about their experiences in school, and they will tell you scholarship can be a very, exhausting experience, many willing to deal with the drudgery of study because at the end of the program their education will translate into income. While many argue, university professors do not earn much, the potential is there.
On top of their teaching assignments, many professors not only make a name for themselves but receive promotions through scholarship and research. In addition, professors essentially can write books, participate in conferences, and become experts in their field, and it is through these efforts they see the return on investment. The point is the potential to earn beyond the minimum is possible with drive and determination, but this cannot happen without the initial investment.
Personal And Professional Return on Investment
Every day we spend time and money on projects that are a means to ends. Whether we ever accomplish the goal set before us is important, but more significantly, the skills we learn can be deposited in a reservoir of knowledge to be accessed when needed. These investments could simply be crackpot ideas that vanish into thin air after we have spent our hard earned money or they can potentially turn into the next great idea.
