“I only have $1,000. What should I do? Is there anything worth doing with this money?”
A friend complained to me about his life situation. He didn’t know what to do next. He felt like he didn’t have enough money to do anything. He wanted to invest money and increase his income. He just didn’t know where to start.
If someone legitimately wants help, I try to help them. This guy was just trying to garner sympathy. So I didn’t bother because I knew he wouldn’t listen or would just create excuses.
The problem is that everyone thinks that you need money to make money.
We all assume that you need to have thousands of dollars to even bother with investing money. Many of my friends think that there’s no point in thinking about investing money unless there’s big money at stake.
I don’t agree with that.
You should invest in yourself even if you only have $100 or just $10. If you want to increase your income, you need to invest in yourself always.
Today I’m going to break down the different ways you can invest $1,000 to improve your situation and make more money (who doesn’t want more money?).
[Check out: The Ultimate Guide to Investing in Yourself.]
How can you invest $1,000 in yourself to see explosive results as a freelancer or someone just looking to make more money?
Attend a conference in your field or a field you want to get into.
If I had to start over again, I would attend more conferences and meet as many folks as possible as soon as possible.
The first conference that I ever attended was the financial blogger’s conference (FinCon) in Chicago in 2011. I had just come back from a Euro trip so I wasn’t sure if I could swing this excursion. I also didn’t want to miss a chance to meet all of my blogging peers in person.
So what did I do? I drove down to Chicago. It was like ten hours of straight driving through the night. I also found a roommate and enjoyed the free drinks offered at the event.
After the first night, I realized that this was the best idea ever.
Why are conferences so amazing?
- You can talk to anybody that you want.
- Real business talk happens after a few drinks.
- You learn from successful folks.
- You make connections.
- You drink and have fun.
- You jump ahead.
If you want to see explosive results, I would recommend attending a conference first. Find a field you want to enter, track down an upcoming event, research who’s going, and show up.
Buy a book.
I don’t care how unique you think you are. Anything that you want to do has already been done by someone. Every successful person has a biography. Every possible self-help topic has been covered.
Books are amazing because someone out there has conducted hours/years of research and put it into a book for you to buy for about $10.
All you have to do is read the book and apply the tips in it.
Go on a trip.
Get out of your comfort zone! Go on a trip and explore this planet.
It’s difficult to quantify the value of a trip because you just can’t explain what happens to you when you travel. Take some money and just go away. This might just be the best investment you ever make.
Take someone successful out for lunch.
I read this tip on Get Rich Slowly years ago and it has stuck with me since.
Think about how simple this idea is. Email or message a successful person that you look up to, ask them to go for lunch, and pick their brain.
Think about how many lunches $1,000 is? A ton. That’s lots of good conversation and food. How could you go wrong?
Start a blog.
You can start a blog for pocket change. For a few bucks per month you can share your ideas with the world.
Your blog is like your resume. Studenomics has brought me on trips, put me on the news, and landed me some sweet paying gigs. A few dollars will give you the platform to show everyone what you have to offer and what’s on your mind.
Why wouldn’t you take advantage of this opportunity?
[Must read: How-to Start a Blog in Six Easy Steps.]
Attend an expensive event.
Attending an expensive event will open your eyes. Recently, Ric Flair came to my gym. He charged $100 for a private evening of questions and a picture opportunity. I had a grappling tournament earlier that day, so I just came to help setup and left before the event started. As I stood outside, I observed all of the fans in line. These fans were lining up and ready to hand over their $100 just to meet another human being.
Imagine that? You work so hard that you no longer have to introduce yourself. You also have people lining up and paying to see you. Paying just to shake your hand. That was truly eye-opening.
Do you have $1,000 in your savings account? Are you looking to increase your income or make a wise investment?
If so, take it and use it to invest in yourself and your freelancing business. Stop wasting time. You owe it to yourself to increase your income.
Your homework is simple: pick one of these strategies. See what happens. Make an honest effort to increase your income.
Are you going to make more money or will you remain in the same position forever?