Women In Business

5 best tips to invest your tax return — in yourself

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When your tax return money arrives, there is a huge temptation to see it as a ‘windfall’ and splurge it … spending it on something temporary or frivolous.

However, this money is a great opportunity to invest in yourself. You can use it wisely with these strategies to invest in your future, further your education and qualifications, or improve your personal presentation.

Start your own business

Starting your own and being successful at it can be difficult for anyone, regardless of being a businesswoman or a businessman. However, that should not stop you from trying to bring your business dream into reality.

“Big dreams are usually the hardest ones to realise, but always the most important,” Get Qualified Australia founder Adam Wadi says.

If you have the idea and the ambition, your tax return could offer you the first step of the financial resources to you go for it.

Educate yourself

Learning is a big part of life and never actually ends — even after you finish school. Even after you finish college or university!

“No-one should ever stop learning and your tax return gives you the opportunity to be proactive in educating yourself,” Mr Wadi says.

So do an analysis on which skills or training might be missing from your list, and put your tax return into education to fill that gap.

Get healthy

Getting fit and healthy is important, not just because you’ll look better, but because you’ll have more energy, a clearer mind and a better ability to cope with stress.

So whether you join a gym, a boot camp, exercise on your own or see a therapist, your personal health does have a strong connection to your career, your success and your wealth.

“Health=wealth. Every dime that goes into getting physically fitter and mentally healthier is money well spent,” Mr Wadisays.

Dress career smart

You know the sayings “Dress for success” and “Dress for the job you want, not the job you have” right? Good!

How you dress has a direct effect on how others see you, how seriously they take you. “How you dress alters not only the image you project to others but also how you see yourself and therefore how you behave,” Mr Wadi says.

So even if you don’t have the world’s wealth to spend on a new wardrobe, investing in a few new, good pieces can really make the difference and make others realize that you are taking yourself and your career seriously — so they should too.

Learn how to save

Learning to save doesn’t have to mean the horror of depriving yourself. It’s just something that has to be done in order to make your business, career and other long-term goals achievable.

And it’s not even about how much you save, but about the learning the discipline of budgeting and saving for the future.

“You’d be surprised by how learning to budget and save pays off in the long-run.”

About Rowena Nagy

Rowena Nagy is a Journalist at The Business Woman Media. A graduate in Journalism, Media and Communications, she is passionate about in writing, travel journalism, video journalism and Public Relations.

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