#142 Invest In Yourself (gathering assets)

Tax time.  Some people's favorite time of year second only to birthdays and Christmas.  It's the time of year when a lot of people are going to file their taxes and be blessed with beau-coup amounts of disposable cash in which they can blow on things that are destined to not be worth it.  This is a great opportunity for most people, because it gives you a chance to do something that essentially you've been working all year to do.

Play catch up.

This is also the best time to invest in yourself.   You are a creative soul, and you are serious about what it is you are attempting to do; take the time to spend some of that hard earned money to invest in your future.

First some basics:

There are four principals to income, that most people don't think of.

Cashflow:  Money brought in usually by working, also considered income.
Liability: Things that cost you money, but don't return any of it.  Bills, Debt.
Assets:  These are things that have a value and bring in money.
Expenses: Money you spend.

The tax return is a cashflow (in a way, at least)
Those new rims for your car is an expense (bordering on liability)
That hundred dollar phone bill is a liability.
Your ability to create something from nothing; that is an ASSET

Most people after getting their income tax return will use it, to go shopping plain and simple, and maybe pay some bills.  A lot of it will be split in between these two things, but people often forget that money spent is not money invested, and money not invested is often money wasted.  Don't get me wrong.  Spending some of that hard earned lucre on something you desire is great and a good way to relieve stress, but it is also important to see the bigger picture.

What is the bigger picture?

Well for us creative types, that bigger picture is success.  I have a friend who is a DJ.  What type of things would he buy with a tax return?

 Better dj equipment

better headphones

...and probably some new games.  Those are things that he needs to function better and produce a better quality product.  It isn't that he can't do it with what he has now, but he wants to do bigger and better.

Creative types need to invest more in themselves with money that they get that isn't designated for bills.  It doesn't just end with creative types.  Entrepreneurs can also benefit from self-investing, as any new endeavor requires promotion and promotion cost money.  Anything from flyers to business cards.  That is self investing.

Investing in yourself isn't just limited to material things, it can also be something as simple as a nice haircut

or new suit...

 or blouse.  Something that will help you represent yourself.   Looking good is always an asset and when dealing with people, it is essential.


The point of investing in yourself is to make sure that you have the tools to continue to pursue your passion while making sure you have a means to make a living from it.  The more wisely you invest, the better the opportunities that you can create from that, and the more successful you can be from that.