Where should I spend my money?

Hello!… I hope you’re all doing well. Today I’d like to discuss where you should really spend your money.

I hope you are earning, but if you are not earning and are a college student with pocket money, that is fine as well. You can apply these tips later in life or advise your parents.

Through this post, I want to show you things where it absolutely makes sense to spend your money, and you should not cheap out on. These things are absolute needs, and spending on them will only get you good returns and good life experiences.

Daily Essentials

Everything that you use on a daily basis, from toothbrushes to pens and pencils, is low-cost. But it has a very practical effect on daily life. So don’t be cheap on these products and buy high-quality ones. A good quality mattress and pillows, as you spend most of your life in bed. Good quality soap, toothbrushes, pens, and stationary. Good clothes and food. These are the things you should never look for cheap. Always look out for quality. Also, when you are buying these things, look out for quality and comfort rather than big brand names.


Spend it on high-quality electronics such as laptop computers, cell phones, and headphones. You don’t have to buy the latest iPhone every year. Just one every 3-4 years is enough. Because these gadgets will either make you money, save you time, or help you relax.  It is better to have good ones than to wait 5 minutes on your laptop to open that one stupid Excel file.


Traveling is the one form of investment that will give great return in the form of life experience and adventures. The personal development benefit from travelling is unrivaled. Have a group of friends make plans and go on a trip. Also, I will suggest planning everything by yourself, as I am not a fan of travel agents planning everything out for you, while that is great when you are planning a trip with your family and you want to play it safe. But, with friends, take the difficult path of planning everything yourself. Don’t worry if you don’t have friends or friends who would go on a trip with you. Go on a solo trip, and along the way, you will make friends who like to travel.

Buy time

Always buy time if you can. What do I mean by this? If travelling by cab saves you more time than by walking and it does not cost more than your hourly rate, then you should take that cab. If you can get someone to do the task for less than what you charge, then you should delegate that task. Whenever and wherever possible, free up your time.

Personal Development

This is the place where you should do most of the spending. Buy books, buy online courses. Learn a new language. Attend paid and free seminars. Keep learning, keep growing. Invest and experiment with your business ideas in small amounts. You should spend at least 10% of your income on this category. Spending on yourself will give the highest returns. Spending 600 bucks on a course may feel stupid, but it is worth it if there is a chance that that skill will be useful.

Buy gifts & Give to charity

Purchase gifts and surprises for your family and friends. Donate to those who are less fortunate.

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