Why do you buy things? The answer to that has so many potential parts that it may seem like an awkward thing to ask. But there is a point behind that. If you plan on being as good as possible with your money, the more efficient that you make your purchases, the more value they have.
That’s why if you consider that you can buy things for more than one reason, it automatically makes the value that much more of an exponential return on your investment.
Think of a few examples that illustrate this point. When you purchase a musical instrument, not only are you investing in an object where you can learn a skill, but you’re also investing in an object that keeps its value. The same sort of idea goes for anything that is a tool of a trade. If you purchase something that holds its value and also is a functional item, it’s an immediate increase in practical and perceived cost and benefit.
A final example might be equipment that you use for home improvement. Say that you purchase a lawnmower. Not only is it an investment in making your yard nicer, but it also means that you have that vehicle to sell, and are also not purchasing someone else’s time and equipment.
One great example of multitiered investments would be when you purchase musical instruments. If you decide to buy a grand piano, not only do you have the benefit of learning a new skill on a beautiful instrument, but you also have the option to sell that piano later down the road.
Particularly for high-quality instruments, the value is more likely to go up rather than down as time goes by. Any time you see vintage instruments for sale for a lot of money, you recognize that as a legitimate option for investments.
Tools of the Trade
High-quality tools fit in the same boat. There is a tremendous potential for increasing value because of their purchase. When you buy a table saw, you are creating the opportunity to learn a skill, create valuable products, and then sell the table saw when you’re finished with it.
By utilizing your time, money, and energy correctly, something like a high-quality tool pays for itself many times over. If you purchase a device in a category of skill that you’re already good at, that increases the chances that you’ll make more money quickly as well.
Home Improvement Equipment and Materials
A final option of a purchase that pays for itself many times over is when it comes to buying home-improvement equipment and materials. Consider that you buy tools and all of the items that you need to remodel your bathroom. You spend $1000 gathering your materials, finish the job, and your house is suddenly valued at $2000 more.
Not only have you doubled your money, but now you can also sell the tools that you purchased and make a fair amount of cash that way.