An internal report of the Personnel Management Association showed that when training is combined with coaching, individuals increase their productivity by an average of 86% compared to 22% with training alone. That means there is something to be said about being coached, in conjunction with your training and learning. While you can grow in many areas of life, my focus is your financial growth.
Although investing in your financial growth is not as common as investing in your health or professional development, it’s still an aspect of life that needs to be trained. There is always room for improvement. I’m sharing 5 reasons why investing in your financial growth is critical, so you can see it from a different perspective.
Why Investing in Your Financial Growth is Critical
#1 – You’re learning from someone who has been where you are
Just like working with any type of coach, consultant, teacher or guide, you are learning from someone who has been where you are. They understand your struggles and what it takes to move on to the next level.
When you invest in your financial growth, you are learning from a guide who has experienced financial struggles similar to yours, and has managed to change their situation for the better. Learning from someone who has been where you are adds an extra layer of understandability. They know what you’re feeling and thinking, because they’ve been there.
#2 – You’re learning from someone who knows the way to go
More importantly than learning from someone who has been where you are is the fact that you are also investing in someone who knows how to move forward. They went through things similar to you, and they have managed to overcome those situations. From there, they can help guide you down the path to your own success.
Investing in your financial growth is critical because you are no longer taking advice from people who don’t know the way to go. You are taking advice from someone who has been where you are and knows how to move forward the right way. You get to learn from their mistakes and avoid them altogether.
#3 – You’re investing to speed things up
By learning from someone else’s mistakes, you are able to speed up your own progress. Since you can avoid making mistakes someone else in your position has already made, you can expedite your own success path. Instead of learning on your own, the hard way, you learn with someone who’s already been down that road.
#4 – You’re investing in your own success, so you’ll take it more seriously
A critical piece in any type of investment in your growth is the upfront stake. Whether you are investing your time or money, you are putting a stake in the game. When you invest time or money into something, you are more likely to see it through.
When you have nothing to lose, there isn’t much need to take the growth seriously. On the contrary, when you put an investment into your growth, you are more dedicated to doing what it takes to get the results you desire. You’ll waste your time and money if you don’t see your investment through.
#5 – You’re investing to see things a different way
Finally, investing in your financial growth is critical because you get a different perspective. When you work with someone who has been where you are, or is where you want to be, you get the chance to understand how they think and see things. This allows you to open your mind to seeing your situation from a different perspective.
Sometimes, all it takes is a change in how we see things to really get our growth going. Working with a professional, or investing in professional help, can give you that change in perspective that may be lacking to get you to the next level.
What Investing in Your Financial Growth Looks Like
Working with a finance coach one-on-one
Not quite sure what investing in your financial growth looks like? One of the most popular (and most effective) ways to invest in your financial growth is by working one-on-one with a coach or consultant. Similar to working with a tutor for your school studies, working with a coach for your finances can help you grow and improve.
Taking online courses and programs
Another way to invest in your financial growth is by participating in online courses and digital training programs. There are plenty of financial-focused courses that give you the curriculum you need to learn what it takes to reach financial independence.
Taking in-person classes and workshops
Just like there are online training and classes to invest in, there are plenty of in-person classes and workshops to consider as well. Depending on how you learn best may dictate which method of training you take.
Reading personal finance books
Reading personal finance books is another great way to invest in your financial growth. A lot of people put their experiences in writing, allowing you to learn from them by reading their stories. Audio books are popular as well. You can learn a lot by reading or listening to someone who has achieved what you are currently working on.
If you’re struggling with your finances, schedule a free consultation with me now and let’s work through it together!
Related: 7 Signs You Need a Finance Coach
Investing in your financial growth, or any type of growth for that matter, is critical for your success. It’s not a must for success, but it helps you get where you’re trying to go much faster. Learning from people who have been where you are and have accomplished what you want can offer great benefits. Have you ever invested in your financial growth? If so, what methods of investment did you choose? Post a comment below to share your thoughts and experiences with investing in your financial growth and development.