My Best and Worst Financial Investment So Far
We've all spent money or invested our time into something that didn't up being worth it in the end. An investment doesn't have to mean a financial one, this could've been a relationship or a career decision. We make decisions every ticking second, and our life is driven by choices. For every wrong choice, there's a lesson and in every good choice there's a lesson as well.
Because we make so many decisions, I wanted to talk about my worst and best investment when it comes to my finances. I want to give some honest and personal examples of how I should've used my money and times where investing got me lots of positive results and returns.
My Worst Investment
My worst investment hasn't been anything dramatic. I’ve never lost tons of money gambling away at a casino or made a bad trade that cost me fortunes. I also never purchased anything I really regretted in the end. But if there was one thing, I wish I could've done differently with my money it would've been to have started investing earlier.
To be honest - it wouldn't have happened because my environment wasn't set up for me to be having those conversations at an early age. I grew up in a household where the practice of saving and being frugal wasn't taught. It was expected but wasn't practiced, and so not seeing my parents being financially responsible with their money led me to go down my own dark path of overspending and living for the now. I started investing at 23, and if I could go back in time this definitely would have been earlier.
The great thing about closing my own financial literacy gap by self-educating and immersing myself in financial wellness circles is that what I've now learned can be passed down to the next generation. I can now ensure that I empower and provide the financial literacy my children will need to succeed from day one. I've decided to break generational curses and finally free myself of financial limitations so that my community can do the same.
Still to this day, there are no regrets simply because I think I still invested at a very early age. There are plenty of women my age (26) who haven't started investing or haven't had those conversations. Now knowing that it is never too early to start investing, my worst investment was not investing as soon as I got my first job at Tim Hortons, at age 16. All that money I made went straight to the mall for food and Sephora, I’ll never make that same mistake again.
My Best Investment
My best investment, hands down, was investing in my business coach last year. I've always known that I wanted to start a business, even though for the longest time I didn't know what it was going to look like. I can't do something just to make money, I have to do something that I love that I know is meaningful and that is going to help people or make this world a better place. When I realized that I could create a career out of coaching other women in their money, I didn't have to even blink twice. I did not think twice about it.
It was obviously something that was very scary to start, but having a successful financial coaching business was greater than my fear of staying in a mediocre and life-draining career. I am not scared of investing in myself because I'm all about fast-tracking my way to success. No wonder, why I aggressively bet on speculative companies every year to reap great returns.
My thinking is simply this. I know there's a business coach out there who is making six figures a year, and she's charging a reasonable amount of money for me to learn how to become her and do exactly what she's doing, and because of that, I will invest in it. I have a lot of people that want to learn how to invest and how to beat out the market or retire a millionaire by seeing more than just 10% returns on their investments, but then they hop on a call with me thinking that I’m going to coach them for less than a $1.99.
If I'm helping you to see a guaranteed million-dollar net worth in your lifetime, you know the investment you put up is going to be a large one. If what you pay to work with me, will be gained back in less than 5 years’ time and take you down a million-dollar path then that desire has to be greater than your fear of losing money.
This is exactly the reason why I wanted to start off with a business coach right away because I knew that I could
A. Spend the first two years trying to figure out how to do it on my own and fail
B. Pay someone who's already doing it successfully and win
I don't have time to be like the 95% of people whose businesses fail, and who are scared to invest in the 5% of business coaches who are successful. So, when I came across my first business coach, she was 21 and making six figures. One of my biggest limiting beliefs was that I was too young to be teaching people about their money and that people would think I was a joke. To see my business coach be younger than me and killing it, erased every single doubt in my mind.
I went in with a positive mindset, despite the program being $3,000 USD and before I even finished working with her, I had already secured three beta clients. Basically, what I’m trying to say is that I eventually made all my money back. That's all that mattered to me. Since then, I never doubted investing in a coach again. Even after hiring two more coaches, I was able to earn $30,000 USD in just three months. If I continue that for the rest of 2021, I am easily going to see over $100,000. I will become a six-figure earner because of a $3,000 investment.
I’m human. I won't lie and say that before I decided to work with her, I was scared shitless of my decision. My brain plagued me with all the things that would go wrong. I'm telling you it is the scariest thing every time I have invested in a business coach after hearing their price. I start sweating, my heart starts pounding and I come up with a million exit phrases to let them down nicely. Then I breathe and instead think of all the things that can go right. All the testimonials that others have sent me about this coach, and the testimonials on their site. All the other reasons why I trust this coach to give me the outcome I desire. Then I make my payment and invest in myself.
I urge you to challenge yourself this year. Invest in yourself, what will that look like for you? Comment below and tell me what your worst investment has been and what your best investment has been so far.
Don't forget to download my free e-book on Mastering Your Money Mindset. Don't let your money blocks and fears, keep you playing small and from seeing the growth you need to get you to where you want to be. You can download the e-book here.
