My Radical Self-Investment Strategy for 2024

#1 Defining my key pillars to self-fulfillment

Start with you — if you want to make sure that 2024 will be good.

What can you do for yourself? How can you level up and be proud and happy?

I answer that question by defining the pillars that make me or break me — and me only, not my social circle.

Now I have a good picture of the life areas that leave me striving. I know that designing all these life areas is more than a financial contribution.

However, I am convinced it is dangerous to overlook the importance of strategically investing money in your key life areas 💰 — as it will help to level up much quicker. 💪🏽

Money can’t buy you happiness is a lie in that case. It can buy you tools and skills that contribute to your happiness. If allocated wisely.

#2 How do I use my money to level up these pillars most efficiently

First, I decided on a 2k maximum budget. This will hurt a bit, but not too much. I saved an okay-ish amount of money and will take it from there.

Second, I decided to make these investments early this year to start profiting as soon as possible and to not spend the money elsewhere.

Then I defined the most beneficial investments in these areas. They look like this:

💸 Finance (EUR 265): I became a member of a tax consultancy serivce club which will cost me EUR 230. Also, I bought a tax tool for EUR 35.
💻 Job (EUR 180): I will have a personal 90-minute coaching for wage negotiations middle of January. For that purpose, I hired a skilled coach that I already consulted last year. This will be around EUR 180.
🎾 Sports (EUR 514): I will buy a fitness watch to track and measure my sports achievements (budget maximum EUR 400). I already invested EUR 140 in personal Tennis training. Nothing makes me happier than seeing my tennis skills improve. Also, I signed up for my city’s half marathon this April, which was EUR 74.
🥦 Health (EUR 632): I struggled massively with my health in 2023. So I look to where this needs more love in 2024. First, I will buy a walking pad for my home office to avoid unnecessary and btw unnatural seated postures most of the time. The budget is EUR 300. I already bought a 1.5-liter BPA-free water bottle to stay hydrated (EUR 12). To use my feet more healthily, I will buy barefoot shoes (around EUR 120). Even if I find those super ugly, the design advanced a bit within the last few years — and I think it is a great way to outbalance the weakness that comes with walking on cushioned shoe soles or high heels most days. Last but not least, I will seek advice from a nutritionist for the first time. Also, I will see a private therapist again. I expect both to be EUR 100 each.
⏱ Time (EUR 279): I bought a planning notebook to schedule my year (EUR 12). Also, I am buying bulk for the year in advance. This saves me time and energy: “In-store” instead of “to buy” feels so relieving. My bulk purchase includes everything that I need repeatedly and that does not expire fast: Vitamin B12 (EUR 90), Omega 3 supplements (EUR 90), candles (EUR 30), shampoo (EUR 32), toothpaste (EUR 10), rice, pasta, lentils (EUR 15).
🔆 Mindset (EUR 150): Let’s face it: I need to declutter my mind. There are so many small leftover doings and itches on my mind that need to be resolved. This especially concerns my apartment which still needs to be prepared (will it ever feel done?). So much stuff still has no place. I decided to craft a storage system and various shelves on my own. Material costs were around EUR 150.

All this is 2030 EUR in total!

#3 Tracking my return on investment (ROI)

When presenting a new business idea to a board of management, they will always ask you about the ROI: What benefit can we expect in the long run from these investments? Let’s act like a small company: This is a great check on your investments — even if in that case, it’s sometimes a bit harder to quantify. Let me show you my very simple approach:

💸 Finance (EUR 265): In Germany, doing your voluntary tax declaration will lead to a tax back of on average above EUR 1.000! However, being a country of complex bureaucracy, a tax declaration — with all these sneaky tips and tricks — is hard to do. Spending around 250 EUR annually for professional support will pay off as this will help me get tax back that I would not have known could be claimed.
💻 Job (EUR 180): No easier lever to get more money than negotiating your wage. To make this a success, I am sure my one-time spend on consultancy will be returned several times in my salary increase.
🎾 Sports (EUR 514): My ambition in tennis is to level up three personal leagues (in Germany, there are 25 leagues for single players) and to run a half marathon below 1:45h. Whether my investment pays off will be shown in my performance — anyways, I decided a higher chance to achieve both is worth EUR 500.
🥦 Health (EUR 632): My health struggles last year have cost me around 12k. Paying for your health now or paying ten times later is my take.
⏱ Time (EUR 279): This goes together with mindset. I bought time by designing my buying process more efficiently. This also frees my mind. I bought things that I would have bought anyway throughout the year, so pre-purchasing not only buys me time but also money — as I visit the supermarket less often, there is less seduction to buy more stuff.
🔆 Mindset (EUR 150): Buying stuff that helps me clear my mind is a step towards freedom and clarity of thoughts. So: Worth it!

You see: Return on investment is not always easy to quantify. Yet, if you have a qualitative reason that advocates your investment idea, go for it!

Nothing better to invest in than yourself. ❤

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This post was previously published on medium.com.

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