When we talk about investing, we always mention the ways your money can make more money. However, there's one asset that's almost always neglected that you should be investing in: you.
Photo by Trading Academy.
As business site Entrepreneur points out, you're necessarily limited in how much you can invest by your income. However, there's virtually no limit to how many skills you can learn or how much you can do to improve your earning potential. When you're dividing up the money you save for investing, give yourself a portion of it that's dedicated to personal development:
Most of us are taught to "save for a rainy day." Instead, invest in "sunny days," which are days of growth and prosperity. Moreover, if you keep investing in yourself, you'll be able to buy an umbrella to keep dry when "rainy days" come. This unconventional advice might sound risky, but those who are able and willing to do it will enjoy the journey because of their constant advancement. Eventually, you'll also be able to save more money in the long-term.
Entrepreneur doesn't advise blowing all your savings on learning new skills (and neither do we), but having a portion set aside can help. If you can afford to indulge a hobby, take a class, or practice a new aspect of your trade, you can improve your earning potential.
3 Truths Every Millionaire Knows About Money [Entrepreneur]