GREENSBORO, N.C. — "New year; new you" -- we all have heard that phrase time and again, especially as the curtain closes on a year and opens up a fresh slate of possibilities.
Why, then, does it feel like every Christmas you are last on the priority list? It's because we know Christmas is about giving, not receiving, yet financial literacy author Ja'Net Adams of Debt Sucks University emphasizes the "I" in investment.
"This time of year, everyone is sharing how much money they plan to spend on other people and on holiday parties and dinners, but there seems to be one person left off the list. That person is you, and I'm not talking about buying yourself gifts. I am talking about spending your resources on you in a way that provides a return on your investment," she said.
Adams advises her clients to take a three-prong approach to new year goals.
Knowledge is power
She acknowledges there often is a misconception about learning a new skill -- it involves more school and more expense.
"Investing in your knowledge can help you in many ways. It can give you the skills you need to get a promotion on a job that gives you a higher paycheck. Investing in knowledge does not mean spending money to go back to college. It could be as simple as researching a topic on YouTube, Khan Academy, Udemy, EDx and many more," she explained.
Health is wealth
Motivation goes only so far, if the body can't keep up with the mind's aspirations.
Adams recognizes the importance of physical health in any monetary goal, as healthcare can make or break any retirement savings later on in life.
"This investment will be for [your lifetime]. Find the time to arrive earlier to your destination, so that you can park farther out and walk. Invest the time to cook at home more, so that you are able to control the amount of salt and sugar that goes into your meals. Investing in your health early on will save you money in medical costs later," she emphasized.
A better tomorrow
There is no time like the present to plan for the future, especially as New Year's resolutions and goals are front and center.
"This month before the year ends, think about investing in your future. That means putting money in your retirement plan(s). Think about the money you were going to use to spend on buying yourself a gift. Instead, take that money and put it into your retirement. As that money grows, it will definitely give you a better return on your investment than that sweater you were going to wear only once," she said.
Adams concluded, "Think about your money a little differently. Think of how you can invest it in different areas of your life where it can multiply for the better," she said.