College kids will be starting their Fall 2023 semester in the next couple weeks. If most parents are like me, they are doing their best now to get together the finances to make sure the semester and everything their child needs is funded. And boy can it be expensive. Staying on campus, getting everything they need, and the meal plan alone is expensive, let alone the education. But this is when I think about the quote from Benjamin Franklin, “If you think education is expensive, try ignorance.”
Ignorance Is Way More Expensive
I can speak to this first hand. My family never really talked about money when I was growing up. You know….how to save it, invest it, or use it wisely. The only thing we knew and were taught was to pay your bills and that you would always have a mortgage. I didn’t know about investing, how to budget and save, nor the importance of paying off my mortgage. Specifically, I didn’t know that I shouldn’t spend all my money. Had I known about better money practices, I could have started investing early. I could have bought my house with the plan to pay it off quickly. I could have saved a ton more money and been in a better financial place now. I was ignorant, and the cost was high.
Learning Is A Process, Not A Destination
I have always understood that we never stop learning. When I completed high school, I knew I had more learning ahead of me. When I completed college, I understood that just because an assignment isn’t due doesn’t mean I don’t have anything else to learn and do. We have to be in a steady state of learning. So, I continued learning, but the challenge is that I was more focused on career learning than on self improvement and finances. A few years ago, it finally hit me. Something had to change.
I decided I needed to focus on me and my finances. I had to look at areas of my life that needed help and get to work. I started watching YouTube videos on self improvement and money. I started buying and continue to buy at least one new book to read a week. No, I am not talking about a great mystery book or novel. I am talking about a book to teach me about how to do things better. Books that help me be a better person, a better husband, a better father. Books that help me with my business and how to handle my money. Sure, the costs of these books add up, but the cost of not reading these books is much higher.
It is said that 85% of millionaires read two or more books a month. I average about a book a week. No, I am not a millionaire yet, but I am soooo much closer than I was when I was in my days of ignorance. We have to always be learning, always growing. Knowledge plus action can equal great results, but that can’t happen if we are consumed by ignorance.
It can be tough to put money out now, in hopes for a good return. Sure, we can buy education through colleges, training programs, or online courses, but we may not see the return on that investment for some time. I believe this discourages people, as most people want to see what their money can get them right now. But we have to be bigger than that and think bigger than that.
The best investment you can ever make is in yourself. Don’t hesitate to invest money and time in yourself if what you are getting can help you learn new ways to improve your life. Sure education and learning can be expensive, but take it from me, ignorance is a much bigger price to pay. If you are not learning something new each day, then I challenge you to look at your life and where you need to improve. Focus on that area and start learning now. Buy a book, watch some YouTube videos, find an online course. Invest your money and time in yourself, it will pay dividends for years to come!!!