We all like the feeling of getting a good deal, and we all wish our money would go a lot further, but did you know there are 6 things that you should never ever skimp out on when it comes to quality and cost? As an accountant, I had to learn some of these the hard way.
In fact, going too cheap on these 6 items I’m about to share with you, will cost you dearly and prove that saving a buck all the time just isn’t worth it.
Now, let’s dive in!
EDUCATION – #1
Number one on our list is education.
In regards to learning, it’s worth quoting Benjamin Franklin, who once said “an investment in knowledge pays the best interest.”
Quality education opens doors and proves to be a wise investment, and the key word here again is investment.
And just to further prove the point about the value of education, take a look at this chart issued by Bureau of Labor Statistics.
EARNINGS
• Bachelor’s Degree = $1305 weekly/salary
• Associates Degree = $1,125 weekly/salary
• High School Diploma = $781 weekly/salary
• No High School Diploma = $592 weekly/salary
When you look at these numbers in regards to an annual salary, those with a bachelor’s degree earn $67,860 per year, and those with no high school diploma make $30,784. Thats more than a $37,000 difference per year.
As you can see, the more you know, the more money you make! And if you thought the cost of an education was expensive, think again. Have you were thought about the cost of not investing in your education.
I personally believe in continuing to educate myself, regardless of the fact that I have been in a successful business for over 25 years now, I am constantly hiring business coaches. I try to keep up with technology, but I still must constantly look for ways to stay on top of it, which is the ever-changing dynamic that directly affects my business and career.
Perhaps you don’t feel like you have enough time to physically attend a major university. But by enrolling in quality courses, whether offered by traditional universities or online platforms like Coursera or Udemy which are very reasonably priced, you can learn up-to-date skills that can significantly enhance your career and financial prospects.
Also, attending workshops, seminars, and conferences allows for networking opportunities and exposure to the latest industry trends. These investments in your education and personal development lead to better job opportunities, higher earning potential, and long-term career growth.
Remember knowledge is power and two years from now, you will not be concerned with how much you spent, but you will have results from your learning investments.
QUALITY FOOD – #2
So number two on our list is quality food. What you eat directly impacts your overall well-being. Eating healthier might seem more expensive initially due to the higher cost of fresh, organic, and nutrient-dense foods.
However, in the long run, this investment, and the key here is investment, pays off by significantly reducing your risk of chronic diseases, healthcare expenses, and medical bills associated with poor diet choices.
Consuming junk or low-quality food can lead to serious health issues such as obesity, diabetes, heart disease, and other conditions that are not only detrimental to your well-being, but also costly to treat with ongoing medication.
Therefore, spending a bit more of your hard earned money on quality food today can save you from substantial health and financial burdens in the future.
I started disciplining myself to this about ten years ago and at first it was quite difficult, but I kept trying during the course of at least a year, like anything else with consistency. After a year, I did not crave junk food as much, and I feel better today than I did ten years ago. So, as the saying goes, you can spend the money now or later. And if you spend the money later at the hospital or doctor’s office, I can guarantee it will be a lot less fun.
QUALITY MATTRESS – #3
Number 3 is a real stunner. Any guesses as to what it is?
Well, have you ever thought about how much time you spend in bed and how important sleep is to your overall health?
How you feel in the morning can make or break your day! Investing in a high-quality mattress is crucial for achieving restful and rejuvenating sleep.
After all, you spend a third of your life sleeping on your mattress. That’s a lot of time so you might as well enjoy it.
And with quality sleep, your body will undergo essential restorative processes, including the repair of muscles and tissues, the synthesis of proteins, and the release of growth hormones.
Quality sleep also rejuvenates the mind, improving cognitive function, promoting emotional well-being, and increasing overall productivity. As you can see, by ensuring a comfortable and supportive sleep environment, a high-quality mattress will contribute significantly to long-term health and wellness, and it’s an investment you cannot afford to pass on for yourself.
PHYSICAL MOVEMENT – #4
In an age where obesity is on the rise, and we sit down more than any previous generation, physical activity has fallen by the wayside.
Regular physical activity enhances cardiovascular health, strengthens muscles and bones, and reduces stress.
I started doing yoga along with improving my nutrition about 8 years ago and the impact on my life, regardless of the cost, has added so much value to my life.
Getting in to any physical activity does not need to be complicated. Just do what you like and be open to trying some new things. From what I hear, pickle ball is all the rage now. So what exercises do you enjoy doing? Let me know in the comments.
Together, these three pillars—sleep, nutrition, and movement—form the foundation of a healthy lifestyle. By prioritizing them, you enhance your physical and mental well-being, boost your resilience to stress, and improve your quality of life.
SECURITY – #5
Safety and security are priceless because they provide peace of mind and protect against unforeseen dangers.
Here’s some examples of how prioritizing security can practically play out in our everyday lives.
Let’s consider a lady who’s a mom and we’ll call her Jane for our example. Jane invests in high-quality home security systems, comprehensive insurance policies, and reliable safety equipment for her family. Her home is equipped with advanced surveillance cameras, smart locks, and smoke detectors, ensuring protection against intruders and fire hazards.
She also has robust health, auto, and home insurance policies, safeguarding her family from financial burdens in case of accidents or natural disasters.
Additionally, Jane prioritizes safety gear like helmets and car seats for her children. These investments not only protect her loved ones but also offer her a sense of security, knowing that she is well-prepared for any unexpected events.
By prioritizing safety and security, Jane exemplifies how investing in these areas is invaluable for peace of mind and overall well-being.
In our example here, it goes without saying that Jane rests well at night because she knows she has done all she can to keep her family safe and secure. Not just in the present, but in the future as well!
HOME MAINTENANCE – #6
Lastly, we made it to #6 on our list of What not to Skimp on.
And #6 is home maintenance.
Neglecting regular maintenance of your home to save a buck! can lead to significant problems and increased expenses over time. Small issues like a leaky roof, cracked foundation, or malfunctioning air conditioning system can quickly escalate into major repairs if not addressed promptly.
Water damage, mold growth, and structural deterioration are just a few examples of how minor neglect can spiral into costly fixes. When mold grows, families are at risk, and it can cause serious health problems.
I have personally seen a family who went from total health to disability due to mold problems that were not addressed in a timely manner.
Additionally, deferred maintenance can decrease your home’s value and lead to higher utility bills due to inefficient systems. Investing in routine upkeep ensures the longevity of your home and saves you money by preventing large-scale repairs down the road.
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If you don’t already know me, my name is Sonia Narvaez. I’m a licensed CPA in Orlando, FL and wealth building strategist with over 25 years experience.
If you have any questions about how to take advantage of the latest tax savings strategies, don’t hesitate to contact us.
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