Friday, March 11, 2016

Women's Money Week: Investing in Your Future #WMW16

What does it mean to invest in your future?

Is it about taking out crushing student loan debt to finance a degree that's "guaranteed" to bring in a big paycheck?

Is it about buying a house when you'd rather be traveling the world?

Is it about watching the Dow like a hawk, trying to beat the stock market with hedge funds?

I don't think it's any of those things. Investing in your future might look like taking some classes or asking for a raise or even carefully evaluating a potential marriage partner. It might look like clipping coupons or taking the bus or doing an envelope system budget. It might mean up and quitting or it might mean sticking with it for a bit longer.

I've said on this blog several times that I'm so grateful to my former self for decisions that I've made, and I think that's the essence of investing in yourself. I'm thankful that Peanut and I practiced living on one income so that when we needed to, we could. I'm thankful that we didn't buy as much house as the bank told us we could afford, so we had money left over to deal with the emergencies that come with home ownership. I'm thankful that when I was rubbing two nickels together my first year in New York I didn't succumb to credit cards to buy something better to eat than day-old Starbucks markout sandwiches.

I'd be lying if I said that I was so forward-thinking that I knew those decisions were the best. There are more than a few moments in my life where I did not invest in my future self, and I've mulled over the wasted money those actions caused. Probably the most realistic thing I can say about it is that I'm a pessimist and so I tend to make decisions assuming that things will go badly - that's why I have life insurance. But it does seem to have generally served me well - I try to find ways today that will improve my life later on, and that is probably the root of it all. Treat your future self the way your current self would like to be treated, and it'll probably be for the better.


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