It is well recognized that being thrifty is a virtue because it will probably keep us out of any financial difficulty.
But if something is done excessively, it can be bad to have too much of a good thing.
Sometimes it makes more sense to invest in quality than quantity.
Think of it as an investment for the future. Despite having to pay more up front, you can profit from your purchase for a longer period of time, which will increase your return on investment.
In the near term, you might be spending more, but you might gain more in the long term.
Having said that, here are 6 things you should invest more in:
6 Things You Invest More In
1. Food
As the old adage goes “You are what you eat”.
You will start feeling, looking, and developing bad habits if you consistently consume unhealthy foods.
This is mostly due to the fact that what you eat has an impact on your energy, emotions, health, and general well-being.
According to the National Institute of Diabetes and Digestive and Kidney Diseases, Eating foods that are good for you and staying physically active may help you reach and maintain a healthy weight and improve how you feel.
Therefore, purchasing fresh foods like whole grains, fruits, vegetables, fish, etc. at a higher price is worthwhile.
Health is riches, after all. You won’t have to spend as much on medical expenses if you are in good health.
2. Exercise
Similar to this, you ought to invest more money in your health and exercise.
Here too, eating well has its advantages. In actuality, both work together to enhance your health and wellbeing.
This may be something we all used to take for granted, but now that we’re aging, our metabolism has slowed, and our wealth has increased.
But we should make the commitment to live a healthy lifestyle, steadily increasing the amount of workouts we do each week from zero to five this year.
Not even a membership to a gym is required.
Nearly everywhere, including areas like the fitness center near your house, is a good place to perform the exercises.
3. Dentistry
Sadly, our teeth and gums cannot grow back. We only have adult teeth, which are the ones that are currently in our mouths.
You should therefore take care of your dental health by brushing, flossing, and using mouthwash at least twice daily. You should also see the dentist roughly twice a year.
4. Clothing and Footwear
Clothing creates a man. People who are naked have little to no social impact.
Consequently, invest in a few sets of truly high-quality clothing and footwear rather than purchasing clothes and shoes of medium quality.
Yes, the initial cost may be twice as high or tripled.
However, these high-quality things usually last longer, are more comfortable, and also leave your home with less clutter.
You may find discounted off-season merchandise at these outlet stores in Singapore to save even more money.
5. Education
According to Warren Buffett, who is unquestionably one of the top investors in the world:
“Investing in yourself is by far the best investment you can make.”
Instead of concentrating on investment optimization, your creativity and energy would be far better employed on developing your career and increasing your income.
We don’t want to imply that making smart investments is unimportant. However, you should prioritize developing your job and earning more money.
To advance in your work, one method to achieve it is to upgrade yourself by enrolling in the necessary courses and certifications. Start by upgrading your skills to its fullest potential.
6. Time
Although you can’t purchase happiness, you can ‘buy’ back your time and lower your stress levels so that you may spend it on the things that are really important.
You are saving time, which is debatably more precious in my opinion, rather than money.
How so?
Several instances include:
- If you don’t have a car, you can increase your Grab, GoJek, ComfortDelGro, etc. budget.
- Getting help from a part-time maid or cleaner to help you with the housework
- paying full retail price as opposed to spending hours looking for bargains online
- dining out as opposed to cooking.
The list continues.
Don’t feel too bad about working hard if you’re overworking yourself like the majority of Singaporeans.
The most valuable resource we have, after all, is time. We cannot get anything back once it is lost.
Final Thoughts
Even while these are generally beneficial for the majority of people, you should exercise caution before splurging on them.
Why do I say that?
Some people view enrolling in fitness courses, getting frequent massages, purchasing an expensive car, or traveling abroad to learn about other cultures as overspending.
Find something that is significant and valuable to you as a general rule when deciding what to indulge on. More importantly, it must stay inside your spending limit.
When you splurge in this way, spending more money than usual is regarded as cost-effective.