Today, we're in the midst of the post Federal Budget news cycle – and the smart money says that a Federal Election will be announced within days.
A couple of things stood out for me as I listened to the so-called experts pull apart the budget …
Firstly, I would rather hear talk of a surplus than doom and gloom every time. Over the course of my working life, I've learned that the attitude you bring to the table is the biggest game changer when everything else is equal. I would rather work with someone who has a positive attitude than a doom and gloomer.
Secondly, we all do the same thing when we hear these budgets … we immediately start figuring out, “how does this impact me?” And we listen for the bonuses or the losses; what we get and what will we have to give?
It's human nature and it's what I listened for too last night.
As the so-called experts were pulling apart the highlights of the budget, they were quick to focus on a highlight: the commitment to give every Australian earning between $48,000 and $90,000 a tax cut that would put a couple of grand back in their pockets.
It got me to thinking: what would be the best thing to do with that extra cash coming back?
And I knew exactly what I would do with it – I'd back myself every time.
I'd focus on turning that couple of grand into a whole lot more money. And so I'd invest in myself.
It's not just theory – it's what I've always done.
Let me explain …
In our family, we have got a bit hooked on the Barefoot Investor – a young Australian bloke, Scott Pape. His weekly newsletters are a mix of good yarns, out loud laughs, common sense and tips for making better mileage from your money. (You can pick up his book at the Book Depository for $14.90 with free postage.)
He's got some great advice on getting a return on your money and picking solid investments.
In a nutshell, he encourages Australians to invest in themselves.
The truth is when we spend our money we are always investing in something – too many beers is an investment in the brewery. Too many smashed avo's on toast is an investment in the local café owner. Chasing the latest i-phone is an investment in Apple. You get the idea … it may give me a good meal, a cold ale, a flash looking device but ultimately, not a great return on my investment.
So, what's the alternative? Invest in something that will give you a return. Throw it into your Super or some shares. Or invest in yourself.
The research is clear in Australia – the higher our level of education, the more we earn.
That's why when Tricia and I started out rebuilding my life after the police, I invested in getting my qualifications in order.
And in the last 13 years, I have continued to invest in my education. It's not just me – it's what I consistently hear from our clients. And I'd back them every time too – a super smart group of people getting ahead in their careers.
So, if you gave me an extra couple of grand, I wouldn't spend it on a new piece of technology. I'd invest it in something that helped me get a better return on my investment. I'd spend $14.90 getting that book from the Barefoot Investor and I'd throw the rest into updating my qualifications. In a nutshell, I'd back myself.
This week, we've got our latest Industry Report – focusing on Security and Risk Management.
We've researched it and written it to help other people, just like you, get ahead by backing themselves. We'd really appreciate your feedback … anything else we should include?
Here it is: Security Risk Management – Industry Report
We've already started working on the next report – for the Resources Industry. Keep your eye out for that in the weeks ahead.
And let's see if my prediction is correct … a Federal Election called by the end of the weekend. Let's hope it is a quick campaign …