Comments on: The Value of Investing in Yourself http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/ Simple, applicable personal finance advice for the modern world Sun, 22 Nov 2009 01:08:33 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Closet Therapist http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-253832 Closet Therapist Sat, 26 Apr 2008 02:45:55 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-253832 I love your site and agree with everything I've read so far! I like to talk to women about avoiding the marketing traps in cosmetics and all things spendy and girly. I love Dave Ramsey too-we are currently saving up to pay cash for a car. I love your site and agree with everything I’ve read so far! I like to talk to women about avoiding the marketing traps in cosmetics and all things spendy and girly. I love Dave Ramsey too-we are currently saving up to pay cash for a car.

]]> By: chris http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-186519 chris Tue, 19 Feb 2008 01:16:43 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-186519 I took the crooked path, spent many years in and out of school and now I'm only working part time. With two BA degrees and a Master's - I job hopped, got laid off due to budget cuts - and now I can't find the work I want. I teach and they are only going for the younger (CHEAPER) hires. My husband attended a trade school - welding, got into a union and earns a six-figure salary, with more work than he wants to do. Go figure! You made a lot of good points. In fact, as I have watched the trends in high school education do away with all the hands-on skills, I think that the skilled craftsman is a good way to go for many people in the future. A skilled tradesman (and not a non-English speaking day-worker) will have a great advantage in the future. Having a good plan going in makes all the difference! I took the crooked path, spent many years in and out of school and now I’m only working part time. With two BA degrees and a Master’s – I job hopped, got laid off due to budget cuts – and now I can’t find the work I want. I teach and they are only going for the younger (CHEAPER) hires. My husband attended a trade school – welding, got into a union and earns a six-figure salary, with more work than he wants to do. Go figure! You made a lot of good points. In fact, as I have watched the trends in high school education do away with all the hands-on skills, I think that the skilled craftsman is a good way to go for many people in the future. A skilled tradesman (and not a non-English speaking day-worker) will have a great advantage in the future. Having a good plan going in makes all the difference!

]]> By: M3 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-184535 M3 Sat, 16 Feb 2008 19:42:37 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-184535 Trent, Just wanted to say that both portions of the email were fabulous today! Investing in Yourself and In Defense of Food were absolutely spot on and I forwarded them around. Thanks for a really in-depth read. Trent, Just wanted to say that both portions of the email were fabulous today! Investing in Yourself and In Defense of Food were absolutely spot on and I forwarded them around. Thanks for a really in-depth read.

]]> By: SJean http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-184436 SJean Sat, 16 Feb 2008 17:25:05 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-184436 agree with Josh... I had 27k in loans for a BS. But it was in engineering, It's 1.5 years later I could have had it all paid off by now if I skipped out on 401k/roth/savings, but that makes no sense. I pay 130/mo, pretty minimal considering that degree allows me to earn 70k at age 25, a company that will pay for an MS, and much more later probably You do have to be careful with student loans, like anything, but they can be a great investment. Good tips, i agree with comments about exercise though agree with Josh… I had 27k in loans for a BS. But it was in engineering, It’s 1.5 years later I could have had it all paid off by now if I skipped out on 401k/roth/savings, but that makes no sense. I pay 130/mo, pretty minimal considering that degree allows me to earn 70k at age 25, a company that will pay for an MS, and much more later probably

You do have to be careful with student loans, like anything, but they can be a great investment.

Good tips, i agree with comments about exercise though

]]> By: Josh http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-184399 Josh Sat, 16 Feb 2008 16:39:22 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-184399 When most people are buying 20k cars in their 20s I don't think 30k in education loans is that much. Especially if it in a marketable field. I guess I would agree don't spend 30k+ of your own money on Film/English. It's all an investment and w/ majors there are clear indicators what your ROI is going to be, and on liberal arts majors its usually very low. I paid for my engineering Bachelors and Masters 100%, no help from parents. I had 34k in debt when I left college a year and a half ago and am making 80k a year now. If I had really buttoned down I could have paid it off in less than a year, but the APR is so low it didn't make much sense. Now I'm starting my PhD, on the company's bill, in the summer. By my late 20s I'll have a PhD and no debt, how many people have their PhD and no debt by the time they are 30 w. no help from parents! I think the investment into my Bach/Masters has pave d the way for financial security the rest of my life. I am free to go and try my hand at my own businesses/startups if I want, I can always get job at IBM, Intel, etc making near 6-figures. When most people are buying 20k cars in their 20s I don’t think 30k in education loans is that much. Especially if it in a marketable field. I guess I would agree don’t spend 30k+ of your own money on Film/English. It’s all an investment and w/ majors there are clear indicators what your ROI is going to be, and on liberal arts majors its usually very low.

I paid for my engineering Bachelors and Masters 100%, no help from parents. I had 34k in debt when I left college a year and a half ago and am making 80k a year now. If I had really buttoned down I could have paid it off in less than a year, but the APR is so low it didn’t make much sense. Now I’m starting my PhD, on the company’s bill, in the summer. By my late 20s I’ll have a PhD and no debt, how many people have their PhD and no debt by the time they are 30 w. no help from parents! I think the investment into my Bach/Masters has pave d the way for financial security the rest of my life. I am free to go and try my hand at my own businesses/startups if I want, I can always get job at IBM, Intel, etc making near 6-figures.

]]> By: A in NC http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-184389 A in NC Sat, 16 Feb 2008 16:20:55 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-184389 Investing in education. I liked what the innovative traveler had to say. Personally, I find myself often in a dillema. I work as an admissions representative for a small private college. You may not realize it but this job is sales. I am supposed to convice (atually the word used in my job description is "entice") people to come to our school and pay for an education. Our education is VERY expensive. From a frugal standpoint, I find the dilemma to be that I'd suggest NOT taking out student loans. But the vast majority of students here have huge loans and will for years to come. They are not studying to be lawyers and doctors where they will make a mint when they get out. Most will leave with an associates degree. They cannot get the jobs they are studying for without the training but the training at a private college is VERY expensive. If they were to go to the local community college (where most of the folks who work here send THEIR kids!) they could get the education for a fraction of the cost but they would lose out on somethings like free tutoring, small classes, individual attention, etc. Yes there is value to those things (and I repeat it over and over every day) but the bottom line is you get out of school what you put into it. If you give community college your all, you will get a lot out. If you give private college the least you can to get by, then that is what you get. It is more about your willingness to learn. Sometimes though the student needs the experience and the debt to understand it. Investing in education. I liked what the innovative traveler had to say. Personally, I find myself often in a dillema.
I work as an admissions representative for a small private college. You may not realize it but this job is sales.
I am supposed to convice (atually the word used in my job description is “entice”) people to come to our school and pay for an education. Our education is VERY expensive.
From a frugal standpoint, I find the dilemma to be that I’d suggest NOT taking out student loans. But the vast majority of students here have huge loans and will for years to come.
They are not studying to be lawyers and doctors where they will make a mint when they get out. Most will leave with an associates degree.
They cannot get the jobs they are studying for without the training but the training at a private college is VERY expensive.
If they were to go to the local community college (where most of the folks who work here send THEIR kids!) they could get the education for a fraction of the cost but they would lose out on somethings like free tutoring, small classes, individual attention, etc. Yes there is value to those things (and I repeat it over and over every day) but the bottom line is you get out of school what you put into it. If you give community college your all, you will get a lot out. If you give private college the least you can to get by, then that is what you get.
It is more about your willingness to learn. Sometimes though the student needs the experience and the debt to understand it.

]]> By: The Innovative Traveler http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-184338 The Innovative Traveler Sat, 16 Feb 2008 15:18:37 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-184338 Few people really take the time to consider themselves an investment. Luckily there are a lot of high-end discount retailers in New York, a great way to get nice clothes and still be frugal. I completely agree with education. I was fortunate enough to have my parents pay for most of it, although I did pay for the last nearly 2 years and lived at home off and on to save money. I only had a small student loan when I left that I paid off within 2 years. But I have friends who are 30k+ in debt from school, and I don't think that's wise. While student loans have made it possible for nearly everyone to attend college, it's also allowed colleges to raise their tuition to skyrocketing proportions. Unless you are going into a money field, I don't see the value in needing to pay off loans for the rest of your life, delaying the ability to invest, buy a home, etc. I think we'll see more kids in the next generation opting for cheaper schools, online universities, community colleges, part-time enrollment, etc. so they won't repeat the generation of educational debt behind them. And just an aside, I majored in Film studies and minored in English. But what actually helped me most was taking a non-university 6-week video editing course which then let me get a job in New York. That eventually lead to me freelancing as a video editor and then focusing on writing, which I'm now doing full-time. So I gained more money-making skills in those 6-weeks than in the 5 years of college. www.theinnovativetraveler.com Few people really take the time to consider themselves an investment. Luckily there are a lot of high-end discount retailers in New York, a great way to get nice clothes and still be frugal.

I completely agree with education. I was fortunate enough to have my parents pay for most of it, although I did pay for the last nearly 2 years and lived at home off and on to save money. I only had a small student loan when I left that I paid off within 2 years. But I have friends who are 30k+ in debt from school, and I don’t think that’s wise. While student loans have made it possible for nearly everyone to attend college, it’s also allowed colleges to raise their tuition to skyrocketing proportions. Unless you are going into a money field, I don’t see the value in needing to pay off loans for the rest of your life, delaying the ability to invest, buy a home, etc.

I think we’ll see more kids in the next generation opting for cheaper schools, online universities, community colleges, part-time enrollment, etc. so they won’t repeat the generation of educational debt behind them.

And just an aside, I majored in Film studies and minored in English. But what actually helped me most was taking a non-university 6-week video editing course which then let me get a job in New York. That eventually lead to me freelancing as a video editor and then focusing on writing, which I’m now doing full-time. So I gained more money-making skills in those 6-weeks than in the 5 years of college.

http://www.theinnovativetraveler.com

]]> By: Lisa Spinelli http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-184167 Lisa Spinelli Sat, 16 Feb 2008 11:26:59 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-184167 All I want to know is, when does anyone find the time to do these things when they are starting up a new blog!? :-) I have been totally consumed! Really, though, It fulfills the education piece, for sure! Now if I can just find the time to fit in some simple things like feeding my dogs, making dinner... Lisa All I want to know is, when does anyone find the time to do these things when they are starting up a new blog!? :-)

I have been totally consumed! Really, though, It fulfills the education piece, for sure! Now if I can just find the time to fit in some simple things like feeding my dogs, making dinner…

Lisa

]]> By: John J http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183936 John J Sat, 16 Feb 2008 05:23:25 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183936 Start a part-time business, when you get out of college. Why waste college to be an employee. Education can be good if used right. There are no grantees. Start a part-time business, when you get out of college. Why waste college to be an employee. Education can be good if used right. There are no grantees.

]]> By: Kaye http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183830 Kaye Sat, 16 Feb 2008 02:49:23 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183830 Love this post. I firmly believe that no matter how out-of-debt/frugal you may be or how financially successful you may prove yourself, if you aren't happy with yourself (in any manner), you will be unahppy until that is rectified. I whole-heartedly agree that taking care of yourself is first and foremost in importance! Thank you for posting this in a area where people concentrating on their finances can read it. Love this post. I firmly believe that no matter how out-of-debt/frugal you may be or how financially successful you may prove yourself, if you aren’t happy with yourself (in any manner), you will be unahppy until that is rectified.

I whole-heartedly agree that taking care of yourself is first and foremost in importance! Thank you for posting this in a area where people concentrating on their finances can read it.

]]> By: !wanda http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183781 !wanda Sat, 16 Feb 2008 01:56:12 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183781 @KC: Of course I dress up a little for conferences, presentations, and meetings. I don't wear makeup for these things, but maybe I should; it's just that I haven't been willing to spend the time or money to select appropriate colors, and the stuff feels wrong on my face. When you "dress for success," you have to understand the norms of your workplace. On regular days, my hair has to be easy because I constantly have to put it up or in a hairnet (to prevent germs from being transmitted to the animals in the animal room), and it hardly matters what I wear under my labcoat. Everyone understands this and is under the same constraints. Where I work, you can identify *the administrative staff* because they are the best-dressed. Everyone in a suit is either a secretary, a salesperson, or a visitor. It would be actively harmful for me to wear a suit or business-type clothes every day, because it would mark me as an outsider, someone who is more serious about clothes than about my work. @KC: Of course I dress up a little for conferences, presentations, and meetings. I don’t wear makeup for these things, but maybe I should; it’s just that I haven’t been willing to spend the time or money to select appropriate colors, and the stuff feels wrong on my face.
When you “dress for success,” you have to understand the norms of your workplace. On regular days, my hair has to be easy because I constantly have to put it up or in a hairnet (to prevent germs from being transmitted to the animals in the animal room), and it hardly matters what I wear under my labcoat. Everyone understands this and is under the same constraints. Where I work, you can identify *the administrative staff* because they are the best-dressed. Everyone in a suit is either a secretary, a salesperson, or a visitor. It would be actively harmful for me to wear a suit or business-type clothes every day, because it would mark me as an outsider, someone who is more serious about clothes than about my work.

]]> By: riley http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183754 riley Sat, 16 Feb 2008 01:28:55 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183754 The single most important personal area an individual can"invest" in is regular exercise. This will enhance and support all other personal investment areas. More stamina, sharper thinking, better health, etc. The single most important personal area an individual can”invest” in is regular exercise. This will enhance and support all other personal investment areas. More stamina, sharper thinking, better health, etc.

]]> By: Empress Juju http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183707 Empress Juju Sat, 16 Feb 2008 00:00:59 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183707 I used to be one of those women who overspent on all the most fabulous beauty treatments: facials, hair, mani-pedi, you name it! Paradoxically, I always looked like something the cat dragged in, because I was overworked, exhausted, and malnourished! I've learned to turn down some work, sleep 8 hours, attend to my nutrition and hygiene, and now I look and feel like a million bucks! Now that I'm one of the people who knows how to TRULY invest in myself, I see my younger colleagues scrambling around, working their fingers to the bone, and I do half the work for twice the money, because I am composed, present, and competent. Oh, and I spend a lot less money to stay this way ;) I used to be one of those women who overspent on all the most fabulous beauty treatments: facials, hair, mani-pedi, you name it! Paradoxically, I always looked like something the cat dragged in, because I was overworked, exhausted, and malnourished!

I’ve learned to turn down some work, sleep 8 hours, attend to my nutrition and hygiene, and now I look and feel like a million bucks!

Now that I’m one of the people who knows how to TRULY invest in myself, I see my younger colleagues scrambling around, working their fingers to the bone, and I do half the work for twice the money, because I am composed, present, and competent. Oh, and I spend a lot less money to stay this way ;)

]]> By: Jayne http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183698 Jayne Fri, 15 Feb 2008 23:48:47 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183698 I know very bright people who became tradesman, not because they didn't have the grades for college, but because it was what truly interested them. I'm sure you didn't mean to imply that people who work with their hands are any less intelligent. I hope your point was that if school isn't your thing, trades are another way to increase your earning potential. I know very bright people who became tradesman, not because they didn’t have the grades for college, but because it was what truly interested them. I’m sure you didn’t mean to imply that people who work with their hands are any less intelligent. I hope your point was that if school isn’t your thing, trades are another way to increase your earning potential.

]]> By: KC http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183626 KC Fri, 15 Feb 2008 22:05:37 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183626 I, too, work in a field where the women don't wear make-up or any sort of adornments - I'm a librarian - LOL! But it's true, most of us don't doll ourselves up much. However once I moved into management I started noticing how important it was to dress better - no more khakis. I started wearing my hair down more, I wore suits anytime I had a meeting, and I wore a little make up - eyeliner and some color during the winter months. It was amazing how that got me noticed by the administrators. Hopefully my performance helped, too, but I think my attire and personal appearance did the most for me - sad, but true. I suppose you could say it set me apart to do that little extra. It was certainly well worth the minimal effort. I, too, work in a field where the women don’t wear make-up or any sort of adornments – I’m a librarian – LOL! But it’s true, most of us don’t doll ourselves up much. However once I moved into management I started noticing how important it was to dress better – no more khakis. I started wearing my hair down more, I wore suits anytime I had a meeting, and I wore a little make up – eyeliner and some color during the winter months. It was amazing how that got me noticed by the administrators. Hopefully my performance helped, too, but I think my attire and personal appearance did the most for me – sad, but true. I suppose you could say it set me apart to do that little extra. It was certainly well worth the minimal effort.

]]> By: Elizabeth http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183601 Elizabeth Fri, 15 Feb 2008 21:38:49 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183601 Health. I think you missed a big one here by mentioning therapy but not exercise or eating right. If you don't have your health, you don't have much. Keeping yourself healthy at a young age will pay dividends for a long time. Health. I think you missed a big one here by mentioning therapy but not exercise or eating right. If you don’t have your health, you don’t have much. Keeping yourself healthy at a young age will pay dividends for a long time.

]]> By: KM http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183596 KM Fri, 15 Feb 2008 21:29:44 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183596 Excellent post Trent. As a 23 year old, I find this advice to be particularly relevant and useful. I would also add excercise regularly under "Feeling good." Not only is it good for your health, but also relieves stress and makes you feel great! Excellent post Trent. As a 23 year old, I find this advice to be particularly relevant and useful. I would also add excercise regularly under “Feeling good.” Not only is it good for your health, but also relieves stress and makes you feel great!

]]> By: !wanda http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183576 !wanda Fri, 15 Feb 2008 21:06:59 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183576 @Fran: That's conditioning. I work in a scientific field, and many, if not most, of the young women here don't wear makeup, and we don't feel less professional or productive because of it. @Fran: That’s conditioning. I work in a scientific field, and many, if not most, of the young women here don’t wear makeup, and we don’t feel less professional or productive because of it.

]]> By: Fran http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183558 Fran Fri, 15 Feb 2008 20:47:51 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183558 One of the hardest lessons I ever learned was the correlation between how I look and feel. If I take the extra 3 minutes to put on a little eye shadow and lipstick,I feel more productive. Even though I do the bulk of my work at home, it just makes me feel better. Remember what Madonna said: "If you don't think you're a star, no one else will." Treat yourself accordingly. One of the hardest lessons I ever learned was the correlation between how I look and feel. If I take the extra 3 minutes to put on a little eye shadow and lipstick,I feel more productive. Even though I do the bulk of my work at home, it just makes me feel better. Remember what Madonna said: “If you don’t think you’re a star, no one else will.” Treat yourself accordingly.

]]> By: My Dollar Plan http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/comment-page-1/#comment-183556 My Dollar Plan Fri, 15 Feb 2008 20:47:15 +0000 http://www.thesimpledollar.com/2008/02/15/the-value-of-investing-in-yourself/#comment-183556 You hit it right on with education. The best thing I ever did was get my degrees. The ROI on a marketable degree is amazing. You hit it right on with education. The best thing I ever did was get my degrees. The ROI on a marketable degree is amazing.

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