When managing your finances, one of the most essential skills that one must develop is investing. One could hardly grow his money and eventually save without knowing how to properly invest.
By now you may be wondering where should you be investing in. While there may be various programs and places that you could invest in, I could summarize them in five essential places. I learned these five vital places during our Generation Change Conference in Davao City, Philippines last April 24-25th from our speaker, Wajahat Ali.
1. Invest in failure
During our journey in life towards financial freedom, we stumble and fall. We even make terrible trades and financial decisions but we get to learn along the way. We need to embrace failures and learn from them. Perfection is overrated because often our desire to become perfect in all things prevents us from making the necessary move to get started in our financial goals.
2. Invest in your passion
Our passion could help us move mountains. It motivates us to do something often beyond our usual capabilities. We need to determine the things that truly makes us happy and invest in them.
3. Invest in the challenges of your generation
4. Invest on the right people
Bill Gates didn’t have all the talents required to succeed in his business yet he became one of the most wealthy people in the world. He was good at determining the essential elements of success and invested in the right talents and people who helped him built his empire.
5. Invest in your community (family, friends and those who are less fortunate)
Your community has helped shape you in some ways. Invest in yourself by becoming self-reliant and participate worthwhile community building activities so you could pay back to your community.
Those are just some of the most important places where you should invest your time, effort, money and expertise.
Have you been investing in the right areas?