If you quit your job, the best investment you can make is in yourself. Before you begin, think about all the jobs you ever had. What did you love and hate about each job? Visualize your dream job. How would you like to spend your days at work? What activities make you happy?
Create a Budget and Spending Plan Before You Invest
The first thing to do after you have quit your job (or get laid off) and before you invest in yourself is to create a budget and a spending plan. As you work on your budget, consider the following:
- Understand your spending habits and replace bad spending habits with good ones. In an effort to create better spending habits, draw up a weekly or monthly budget with categories for bills and other necessities like rent and food. This process helps you think through how much money you can budget for each category.
- How much income you have. Every dollar helps after you quit your job. Consider income you might receive from unemployment, personal savings, or other government assistance programs like Social Security.
- What expenses can you cut? Even though some of these expenses may seem small, like your Spotify subscription, they can quickly add up. For example, you might want to cancel your Netflix or Hulu subscriptions or cancel your gym membership. And learning how to cook could be fun and help you save a lot of money every month. Cooking for yourself is a lot less expensive than eating out or getting food delivered from restaurants.
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What does it mean to invest in yourself?
Investing in yourself means that you are taking control of your own future. If you make the right investments, and I don’t mean car, people will notice you. Making the right investments in yourself means that you are taking calculated steps to bring you closer to your best self.
Ultimately, there’s one investment that supersedes all others: Invest in yourself. Nobody can take away what you’ve got in yourself, and everybody has potential they haven’t used yet. – Warren Buffet.
Is it good to invest in yourself?
Unfortunately, many people confuse spending money with investing. Before you spend money on yourself consider this:
- What makes this an investment?
- Does this expense increase my earning power?
- Does this expense help me make more money in the future? If yes, how far into the future, and how much money can I expect to earn from this investment?
- What other benefits does this investment have?
- Does the investment help me save money?
What investments can help me change my life?
Your best asset is your ability to learn. Invest in yourself in ways to help you land your dream job or even start your own business. When you invest in yourself, you are banking on yourself to make the right moves going forward.
Learning doesn’t always mean investing in higher education. Enrolling in college is an option, and might be necessary depending on your dream career field. Investing in learning new skills can take many forms, and it can be a life changer.
What are the best ways to invest in yourself?
The best way to invest in yourself is to invest in your mind and in your health.
Here are ways to invest in yourself after you quit your job:
Take An Online Course
Before you sign up for an online course, think about your goals. What is your dream job? What skills are required? Do you want to become a Python software developer? Do you want to help people buy their first home? Do you want to start a food business? Whatever skills required for your dream job, you can take a course – possibly several courses – to arm yourself with the necessary skills.
Before you invest in an online course, ask the following questions:
- What does the course cover? Make sure that the course is up-to-date. For example, if you are learning Python software development, make sure that the course covers the most marketable skills.
- What is the cost of the training? There are countless inexpensive online courses on virtually any topic. Just because an online course costs thousands of dollars, it doesn’t mean that it is a good investment. Stay frugal when it comes to investing in an online course.
- What other students say about the course? Find students who went through the same program. Ask them about their experiences. Did they find the course beneficial? Did it help them find a job?
Listen to Podcasts
Listening to valuable podcasts is a great way to invest in yourself. If you want to learn from podcasts, you have to look beyond entertainment. If you want to start a business, listen to a business podcast. If your goal is to become a software developer, listen to a relevant podcast.
You could also start your own podcast. Let’s say you want to become a Python software developer. You could create a podcast documenting your learning journey.
Network with Industry Professionals
Networking is a great way to invest in yourself for several reasons. Most importantly, networking is a way to connect with potential employers. Make connections with people who work for your dream employers. Networking is also a great learning tool. Let’s say you want to start a business; you could reach out to entrepreneurs with business-related questions.
Here is how to maximize your networking:
- Make a list – Create a list of people you want to connect with. Ask people in your current network for introductions. There is a good chance that you already know people who could help you connect with the right people.
- Be authentic – Don’t put on a show. Be yourself. Networking is just another way to get to know people.
- Show interest – If you reach out to an individual, show a genuine interest in the other person. Focus on their jobs, and keep it professional.
- Don’t be needy – Ask for advice, not a job. If you are annoying, people will not help you. Sometimes people don’t have time to get back to you. That’s the reason that you should try to build connections with multiple people. Don’t take up too much of other peoples’ time.
- Take time – Networking takes time. You can’t build relationships with one email, one phone call, or one meeting.
Start a Part-Time Business
Starting a side-hustle or a part-time business is a great way to invest in yourself. Even if your ultimate goal is to find a job, starting a part-time business could help. Let’s say you want to find a web designer job; you could take on small web design jobs. With a side hustle, you are getting paid while you are learning, it is the best possible outcome.
You could document your journey in the form of a blog. You could document your learning process and share best practices with your readers. When you force yourself to write things down, you are learning in the process.
Even if you don’t want to start a blog, you could handwrite to create a deeper sensory experience. Something magical happens when you write things down. Handwriting can also improve your memory.
Get in Shape
One of the most valuable long-term investments is to get in shape. Unlike all other types of investments, getting in shape and staying healthy involves no risk. It doesn’t require money, yet it pays dividends for the rest of your life.
Getting in shape can also improve your self-esteem. Working out regularly is a great way to enhance your mood, and it can also help you manage stress and reduce anxiety. The antidepressant effect of regular exercise is similar to antidepressants. Getting in shape can also improve your self-esteem. It only requires your time.
Your health is a great career booster. Whether you just started in a new job or you are the CEO of a company, your health is going to have a huge impact on your success. Staying healthy can bolster your self-esteem, and it will help you live a more impactful life.
Early to bed, and early to rise, makes a man healthy, wealthy, and wise.” – Ben Franklin
Sleep and Wake Up Early
Even if you are not a morning person, going to bed earlier and rising earlier helps you become more productive and more successful.
Here are a few tips to get in shape and stay healthy:
- Exercise at least three times a week. It is a bonus if you can exercise outdoors. Working out outdoors is a great way to stay fit and get your vitamin D.
- Track your movement. Walking is a great way to stay fit. It is a low impact exercise with many benefits. You can also listen to podcasts during your walks.
- Grow your own food. Gardening is not only great exercise, but it is also a great way to eat healthier.
- Follow a healthy diet. Eat a vegetable-rich diet. Avoid processed foods as much as possible. Prepare your own vegetable-rich meals. Not only that, you will save money, but you will eat a healthier diet.
- Get at least eight hours of sleep each night. Good sleep is a great way to invest in your health. Sleep also improves your mood, memory, productivity, and focus.
Hire a Career Coach
If you feel that you need help to reach your professional goals, you might want to invest in a career coach.
You might want to hire a career coach if you answered yes to any of the following questions:
- Do you want to switch professions?
- Are you wondering if you are on the right professional path?
- Are you feeling unfulfilled in your current profession or job?
- Do you have doubts about the next steps to take?