Investing your money is one delayed gratification that is well worth the wait.
My understanding of the value of money has changed over the years. When I was a teenager, I was always told to be mindful of my spending habits, but now, as an adult, I recognize its value on a whole new scale.
I might occasionally spend a lot on one item, but I always consider its longevity first. For instance, the last winter coat I bought was in 2019. It was expensive, but I knew it’d be worth the money. I chose a colour and a style that was timeless, not trending, to ensure that I wouldn’t tire of it. I made this expensive purchase based on its quality and what it offered me.
Five years later, it’s still the winter coat I wear today.
I haven’t always made good financial decisions, though. I used to splurge on myself if I could, and there are purchases I’ve made in my adolescence that I now regret. I often think about how much more financially independent I’d be now if I had better spending habits then.
If I had more knowledge of finances back then, I would have invested my money a lot sooner. There are advertisements about investing our money everywhere nowadays, presented by banking websites and independent companies such as Questrade and WealthSimple.
Investing your money is a worthy pursuit. It allows your money to grow over time. You may feel somewhat deprived of your funds in the short term, but I strongly believe your future self will thank you for it.
When you invest your money, you’re preparing yourself for the future, because there are so many unknowns. Should there be another inflation spike, you’d be more financially secure if you saved adequately. Investing your money will also help your chances of buying a home of your own someday, which isn’t an option for many adults right now.
A financial investment is essentially an investment in yourself, your future, and your loved ones. It’s one of the best decisions you could make in your youth.
With the end of 2024 quickly approaching, it’s not too early to think about New Year’s resolutions. One of my resolutions for the upcoming new year is improving my spending and saving habits. I’d like to be more financially independent and secure, and that entails taking the proper steps, such as learning about stocks to invest my money in the right places.
It may mean that I have to make some sacrifices, but I know this decision will pay off. And while it can be daunting to invest your money, rest assured that it is a safe process that is worth your while.
