3 Things Even Frugal Families Shouldn’t Be Afraid To Invest In
Any small business owner will tell you that the path to financial freedom does not lie in avoiding spending money. Sure, frugality is important. It’s essential that we learn restraint and refuse to allow ourselves to be lulled into the bad habits which are all too common in a consumer-capitalist society. Habits like treating shopping as a leisure activity, using quick and easy lines of credit to make purchases that we can’t really afford and looking for fulfilment in the acquisition of material possessions. But while spending should certainly be curbed, there are some areas where families should not be afraid to spend. Areas where your spending becomes an investment which will, given time, pay serious dividends which could make a real and lasting difference to your family’s financial status.
No matter how frugal and disciplined you may try to be, you should not be afraid to spend when it comes to…
Learning
Learning is the key to success. Heck, it’s the biometric swipe card to success. Learning is both incredibly empowering in and of itself but also in its ability to imbue us with new skills, open new career paths and provide opportunities that will eventually make a big difference to our household income and finances.
Whatever your age or your circumstances, it’s never too late to empower yourself through learning, whether it’s by studying a public safety degree online or simply learning some free courses on Skillshare. The same goes for your kids. You never know where the skills and knowledge you invest in now will take them tomorrow. Make sure that they follow through on those guitar lessons, that Spanish class or those karate seminars and you never know what opportunities they may bring someday.
Home improvement
Your home is no castle, and all castles could do with some fortification every now and then. Home improvements are rarely cheap but if you can afford them through diligent saving (rather than a high-interest loan or exploitative credit card) it behoves you to do what you can to make your home a better place. Not only can home improvements add value to your property should you come to sell it, they also add value of a far humbler but no less important kind. They make your home a happier and more relaxing place to spend time. The more you invest in your home, the more likely you are to be happy and productive at work, be a better spouse to your partner and a better parent to your kids. Investing in your own happiness is nothing to baulk at. Speaking of which…
Family memories
More money can always be earned and saved, but the time you have with your significant other and your kids can never be brought back. In our consumer-capitalist society, we’re conditioned to always chase the next big thing without really taking stock of what we have. For that reason, you should not shy away from investing in making memories with your family. The good news is that you don’t need to spend a fortune to enjoy a fantastic birthday party or a memorable vacation or simply a fun day out. Even a picnic in the park can become a treasured memory that lasts a lifetime.
By all means save, by all means, budget… but don’t let yourself miss out on the things that will add value to your life.
*This is a collaborative post.
