Thanks to everyone who replied to my post the other day about how I’m not spending money ever again. Your comments made me review what, exactly, I meant, when I wrote that.
So, to be clear, here are my tenets of switching out words, and focusing on investing:
- I do not invest with borrowed money
- When I invest, I am expecting a return
- That return can be immediate, sometimes, but is very often longer term
- The return is tangible
What investing rather than spending excludes:
- There are no investment pieces in a wardrobe. The fashion industry has stolen that phrase, and it has worked well for them, but $430 pants are not an investment. Or, if they are, they’re a junk bond that a spilled glass of red wine or an overzealous muddy puppy could nullify immediately.
- I cannot justify investments. Therefore, considering investment when spending does not make a purchase more easily justifiable.
- I do not “deserve” investments, and I am not investing in instant gratification. Justifying a fancy cup of coffee would be the equivalent of investing in scratch tickets. Plain and simple.
Let’s take the example of the dream camera (because that’s the object of my desire). It classifies as an investment, although since I do not invest with borrowed money, it will have to wait. But there will be a return, eventually, when I become a better photographer, and hone my skills. The return will be tangible, if not immediately income-related. If I take better pictures of my world, and my loved ones, then my little world benefits. And, if I become awesome, which is entirely possible, then I could make a monetary return on my investment as well.
See? Investing makes sense in these terms — it’s not just a term to help justify extravagant purchases or even daily indulgences.