Lesson 34 - Spending money to make money

Coaching for College Students

Lesson 34 – You have to spend in order to get.

This might be obvious – but isn’t necessarily what we want to hear. 

You have to spend in order to get!!

• Like … spending on a college education to get a degree and a chance at a good job
• Like … spending on a seminar to learn how to be empowered
• Like … spending on a website to promote a new business
• Like … spending on machinery or materials to make a product

Yes, you have to spend in order to earn. 

In terms of college students – yes, you are spending money – but you are spending time.  Maybe the better term is “investing” time and money.  When you invest, you want a return.  But as compared to investing in the stock market or putting your money into some kind of investment / savings, this time you are investing in YOU.  If you want a good return, you need to help the investment – spend some time (a lot of time) making yourself REMARKABLE.   

Buying books – and not reading them?  Not a good investment.

Watching television – and not studying?  Not a good investment.

Cutting classes?  Not a good investment.

There have been times when I balked at spending a lot of money on a book, especially for a course that was not my major.  There are alternatives – like ebooks, sharing a book (be careful of who and how you share books), finding the book in the library, finding a cheaper version on line, find somebody who had the class last semester and has the book and buy it from them. 

There are also professors who ‘require’ a book, but don’t use it frequently – in most cases go ahead and buy it and learn from it.  Learning occurs whether or not the book gets used in the class.

After college:

You need to spend more on additional course work, on certifications to verify that you know your material (like the CPA exam and others), keeping updated is an essential.

Problems:

Can you think of examples where you had to spend money in order to earn more (or where others had to do so)?
How do you anticipate spending and earning in the future?

Quote from Benjamin Franklin: An investment in knowledge pays the best interest. –Benjamin Franklin