What does it mean to invest in yourself?
A psychologist shares 9 valuable ways you can invest in yourself so you can fulfill your goals and live a satisfying life.
Investing in ourselves is an important part of personal growth and success. However, many of us tend to put others’ needs above our own, leaving self-care and development at the bottom of the list. But investing in ourselves – both personally and financially – can be hugely beneficial. It may not only improve our individual wellbeing, but also positively impact those around us.
What does it mean to invest in yourself?
Investing in yourself means dedicating time, resources and effort to enhancing your current and future quality of life. “It involves making deliberate choices to prioritize self-improvement and growth,” says Katie Turner, a registered psychologist based in Calgary.
“When you put effort into improving yourself and achieving your goals, it can positively affect your health, happiness, relationships, career and finances. Taking the time to invest in yourself can be simple, affordable and incredibly rewarding,” shares Turner.
What are the benefits of investing in yourself?
There are many important benefits of investing in yourself, says Turner. It can:
- Give you a sense of purpose and direction
- Build your confidence and self-esteem
- Bring fulfillment and joy into your life
- Enhance overall mental, emotional and physical wellbeing
- Improve relationships with those around you including your partner or spouse, children, friends and co-workers
- Provide financial security and peace of mind
- Help build resiliency by equipping you with the tools, skills and mindset to navigate challenges and setbacks
- Open up new opportunities
“Ultimately, investing in yourself empowers you to reach your fullest potential, leading to a more rewarding and successful life.”
9 ways to invest in yourself
Turner shares these key ways to invest in yourself:
- Set goals. Setting goals is an effective way to stay focused and motivated. Start by reviewing your long-term goals and breaking them down into smaller, monthly goals. By setting monthly goals, you create a roadmap for success. This can help you maintain momentum and stay on track to achieve your long-term aspirations.
- Create a budget. Establishing a clear budget helps you manage and understand your monthly expenditures, savings and investments. Your budgeting approach can range from using a basic expense-tracking app to maintaining a more detailed Excel spreadsheet. Either way is fine – it’s just important to find a method that works for you.
- Pay off debt. The burden of debt can have far-reaching negative effects. It can affect your financial and personal wellbeing and can cause strain on relationships. It can also limit your ability to achieve your goals. Prioritizing the repayment of debt is crucial to gaining financial freedom and peace of mind.
- Invest your money. Investing is important for growing your money and reaching your financial goals. You can use investments like stocks, real estate and/or mutual funds to help your money grow over time. To learn how to invest, you can start by reading books or articles on investing.
- Work with a financial advisor. An advisor can help you achieve your financial goals. Advisors offer personalized advice and can create a roadmap tailored to your needs. Thus, ensuring that you can navigate life's various stages. With their expertise, financial advisors can help you strike a balance between present desires and future needs. They can also help you explore untapped options, monitor progress and make adjustments as circumstances change.
- Get the support you need. To support personal growth, seek guidance and assistance from experts. Take into consideration your budget and available resources – like extended health benefits. Depending on your needs and goals, this might include consulting with a therapist, life coach, parenting coach, dietitian or personal trainer. These professionals can help you navigate challenges, develop effective strategies and provide valuable insights.
- Build healthy habits. By incorporating habits such as regular exercise, balanced nutrition, sufficient sleep and stress management into our daily routines, we can experience a multitude of benefits. These include improved physical health, increased energy levels, better mental clarity, enhanced mood and a reduced risk of chronic diseases. Healthy habits also contribute to better stress management, increased productivity and a greater sense of overall happiness and fulfillment.
- Keep learning. Successful people embrace lifelong learning. Those who are committed to learning understand that stagnation can lead to being left behind in a rapidly evolving world. Fortunately, technology has made learning more accessible than ever. Whether it's through podcasts, books, online videos or courses, the opportunity to acquire new knowledge and skills is readily available.
- Build a good support system. It’s essential to surround ourselves with friends and people who support and encourage us and are invested in our progress. A supportive network enables us to seek guidance, encouragement and accountability during challenging times. This helps us to overcome obstacles and grow in meaningful ways.
Maintaining a healthy balance
In the journey of investing in oneself, Turner says it’s crucial to get enough downtime and rest. “While personal growth and success is important, we need to make sure we have time to recharge and turn off. Recognizing the value of rest allows us to maintain a healthy balance in our lives. And the reality is that sometimes we might need to make a sacrifice in one or two areas so that we can tend to what’s important at the time. We can’t always do it all.”
And rather than solely thinking about how we’ll feel when we achieve a goal, Turner suggests embracing mindfulness in our day-to-day lives. “Mindfulness allows us to appreciate and enjoy the journey as it unfolds. It helps us savor the experiences and acknowledge the emotions and growth we encounter along the way.”
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This article is for information and illustrative purposes only. It's not intended to provide specific financial, tax, insurance, investment, legal or accounting advice. It does not constitute a specific offer to buy and/or sell securities. We've compiled information in this article and webinar from sources believed to be reliable, but no representation or warranty, express or implied, is made with respect to its timeliness or accuracy.
