I’ve lost count the amount of times I’ve heard the question "what's the best investment I can make?" so let me break down why it's the wrong question.
I’ve used this analogy before; imagine you have a leak in your bathroom and there's water all over the floor, there are 2 things that need to happen. You need to stop the leak and you need to clean it up.
If you've been to a DIY store, or a supermarket you've probably seen there are different types of mop - you can get the best mop, one of those with the bucket with the pedal that spins, and absorbs water at a rate so fast it's almost magic.
Or you can get a shit mop.
They’re gonna clean the floor at different rates, and when you ask what is the best investment - you are asking what is the best mop to clean up the floor but REALLY what you need is to stop focusing on what mop, and focus on the leak you haven’t plugged yet.
And until you plug that leak, (which is managing your expenses and making your savings automated the day after payday, just.... FYI) it doesn’t matter, it really doesn’t matter.
So many people want a quick fix or some get rich quick scheme, but they haven’t addressed the leak. And until you do this it doesn’t matter what mop you use. You could have the most inefficient mop - like a second bank account - which is a great tool for saving money, but it’s probably not as efficient as investment into the stock markets or property over the long term, but that’s irrelevant if you’re not saving in a structured way, and the people that usually ask me this question, are the ones who are most ill prepared, i.e the ones who spend way too much and save way too little.
So before you go ahead and buy that super turbo mop, plug the leak.
Thanks for reading,
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