February 5, 2019

3 Ways to Know If You Are Making the Right Life Investments

Category: Financial Freedom
Have you ever stopped and suddenly realised that you have been making the wrong decisions? Living the wrong choices and now suffering the consequences?

Whether it be in a relationship, a job, or with your finances, sometimes we are just plain blind to it until something, or someone wakes us up.

I know this has happened to me many times. This year marks 20 years of running my own business. Today, while packing up and prepping for an office move, I came across so many items that I’ve purchased over the years, that are no longer of any use. It turns out that many if not most of these things were a poor use of my precious capital. And, I have to admit, most of them were not well thought out investments, made with the aim of making me and my company more money for the long term. Rather, they were things or ideas that seemed appealing in that moment. I didn’t really question what, if any, long term value did they hold.

This spending without a plan didn’t seem to cost me that much at the time. But when I reflect back, I now see it was the opportunity cost that was the real price tag. If I had put that money into something that increased in value, what would it be worth now? If I had spent that time on a project that was successful, how much profit could have been made?

I have realised that planning in business and your life both have to be seen with the overlay of future you. What’s the benefit of this decision in ten year’s time? Will this add to my overall life plans and goals? What time will this take that I could be putting to my family or other more viable ideas? With this in mind, I have developed these three questions which should be asked ahead of every spend decision or choice on where and how to spend your valuable time.

1. What am I doing this for?

Profit? Pleasure? Future growth? Have a clear idea of your endgame. If it turns out to be pleasure more than not, you may find yourself making decisions future you will regret.

2. What’s the best case scenario for this decision and what’s the worst?

Can I afford the consequences? If you can’t afford worst case scenario, don’t do it.

3. How will this fit into my life in ten years?

How can you think it out now so that it is maximised in the future? Make decisions only after careful consideration. Undoing them is costly. Take your time.

As I have seen again with my Five Pillars diagnostic, time is as valuable a resource in growing wealth as money itself. How you invest your time and money now will have a massive impact on how you live your future. I’m definitely a work in progress.

Until next time

Leave a Comment

  • From Kids Debit Card on Changing Conversations You Need to Have with Your Kids

    The goal of the following article is to assist parents have meaningful conversations with their children about money and financial literacy by providing them with practical guidance and useful recommendations. The author discusses goal-setting, budgeting, saving, and investing, and offers advice on how to have these discussions with people of varying ages. The essay is informative and easy to read, making it a valuable tool for parents who want to teach their children about money.

    For More Info:-https://busykid.com/kids-debit-card/

    • From admin on Changing Conversations You Need to Have with Your Kids

      Thanks for your comments!

  • From Gale Pickles on It Was the Best of Times, It Was the Worst of Times

    So enjoyed this, I will share if that’s okay with you, many of my friends will benefit from your journey.
    Many Blessings for 2023

  • From ScottViabe on Three ways to embrace change to improve your life

    Hi all! This is a good site.

  • From David Horton on How Finfluencers are teaching millennials and Gen Z about money

    And once again the regulator finds a way to stop ordinary people from getting advice by placing high costs on people who do the right thing. If a finfluencer is actually trying to scam someone, it would not be hard to operate outside Australian jurisdiction.

    • From admin on How Finfluencers are teaching millennials and Gen Z about money

      They definitely have a place. People need advice and many are working on it to be more accessible. Watch this space!

  • From Camelia on IT'S NOT TOO LATE FOR YOU

    It’s never too late to learn something new and to start all over again. Unless you’re dead, you can do it.

    • From admin on IT'S NOT TOO LATE FOR YOU

      So true

Each day I wake up excited to inspire everyday people to open up and take control of their money, regardless of their history, goals, or savings amount. About Vanessa >>


Discover a new way of seeing
life & money.

Download the first 3 chapters for free


Related Articles

Five Ideas to Help Ease Financial Stress

Financial stress can weigh heavily on our minds, impacting our overall well-being and happiness. However, there are steps we can take to alleviate this burden and pave the way for a more secure financial future. Here are five practical tips to help...

The Silent Struggle: How Financial Stress is Taking a Toll on Mental Health

  In a world where the cost of living seems to skyrocket by the minute, the silent struggle of financial stress is taking an undeniable toll on people’s mental well-being. As someone deeply invested in financial literacy and well-being,...

The real cost of money worries? More than a penny for your thoughts.

  Angie was nestled amongst the cushions of Nick’s luxurious sofa, wrapped in his plush bathrobe, a temporary substitute for his embrace as he took to the kitchen to brew a perfect mug of coffee. She loved that recently, Friday...