What does it mean to put your money to work and why should you care? For starters, effectively putting your money to work is the first step toward reaching your financial goals. A great example of putting your money to work would be buying a farm or purchasing cattle. Buying a farm is an Investment vs a Generic Purchase of an item, such as a name brand jacket, that will only depreciate and lose you money the more you use it. An investment costs you money up front, but down the road it will yield returns or profits.
"It takes money to make money" - Sol Luckman
The stereotypical saying, "Success takes sacrifice", could not be more on point when you fully understand how to properly invest your money. Think about it, if you take your hard earned money and invest it into a farm, you are no longer able to go spend that money on fancy clothes, drinks at the bar when you are out with friends, or placing a down payment on that shiny new car to impress the ladies/guys. Instead of being consumed by what I like to call the "Social Bubble", you have now broken free and are well on your way to financial freedom. The Social Bubble is a very strong force that prevents many people from achieving financial independence. The Social Bubble is where you are constantly surounded by friends that always want to hangout and go places, and more than likely spend money. Don't get me wrong, having friends is great and important in life, but the cold truth is you end up becoming who you surround yourself with. If your friends only like sports, shopping, and being cool, that will influence you to care about those things as well. For example, you and your pals are relaxing at a nice restaurant talking about the latest and greatest G-Shock watch that just hit the market, and all of a sudden your friend reveals that he/she has already purchased it. This in turn influences you to go buy one, and the cycle repeats itself every paycheck. You can either "Look" successful, or you can "Be" successful. By this I am referring to the guy/girl walking around the shopping mall with an expensive handbag or designer shades hooked onto their shirt, but in reality, that person is living paycheck to paycheck. They are obessessed with winning the approval of others by looking successful. Warren Buffett, one of the greatest investors of all time, is immune to this pointless pursuit in "Looking" successful. At the time of this writing, Warren is the third richest person on the planet. Despite this fact, he used to drive a 2006 Cadillac until he upgraded to a Cadillac XTS in 2014 at the request of his daughter. Why am I going on about Warren Buffett? Because he displays a rare ability to not let money change who he is. And he does not seek the superficial acceptance of others by what he wears, drives, and owns.
"Find your passion"
One of Warren's timeless pieces of advice in the pursuit of success and happiness. Finding your passion is not as easy for some people. It took me a very long time to discover mine. How was I able to find it? I was blessed to have had a life altering event occur and set me on the path I was meant to be on. I am 100% a believer in our Heavenly Savior and Heavenly Father up above and I know without a shadow of a doubt that he created each and every one of you with a purpose, and the gifts required to accomplish this purpose. If you seek him, he will find you and he will show you what you are meant to do. Therefore, It is important to spend time alone regularly, away from the influences of others to discover who you really are, what you want out of life, and more importantly, what you are meant to do. Once you have discovered who you are, go find like-minded individuals who are working toward the same things. This will motivate you even more to achieve your goals in life. It is very satisfying to see your money at work and creating more wealth for you and your family. Warren Buffett is well known for his timeless wisdom on investing and has become one of the richest people in the world through making smart investments.
“If you don’t find a way to make money while you sleep, you will work until you die.” - Warren Buffett
Now that you understand what Investing is, I encourage you to learn about The Stock Market, the place where most investments are conducted, and where you can achieve your own financial freedom through further learning and careful study.