The Importance Of Having A Personal Development Fund – Do You Have One?

2 Comments Posted in Personal Development

personal development fund

The secret art of saving money is to have 2 separate accounts – have a spending account and a savings account. If you combine both your savings and spending account together, most likely you won’t have much savings.

The concept of having an account for saving can be applied to your personal development. Personal development is not a random act of action. Random or sporadic action does not help you get consistent results. It takes consistent action to see consistent results.

This is why I think everyone should have a Personal Development Fund.

What Is A Personal Development Fund?

A Personal Development Fund (in short it stands for PDF, though the acronym seems weird) is a fund or account that you set aside for your investment in your own knowledge or/and skill.

The key to this idea is to set aside a certain amount of money each month to your Personal Development Fund and make sure that you spend it every month to get materials that will help you improve yourself.

Having a Personal Development Fund is helpful because it helps you to stay committed to investing in yourself. It also helps you to become more conscious about your decision to grow and be more consistent with your learning.

In the meanwhile, you are also creating a habit to set aside money every month to upgrade your knowledge and skills consistently. If you are a frequent reader of my blog, you know I don’t believe in discipline or using willpower. It is the habits that count.

Instead of being sporadic and pick up a book this month and missing out on personal growth next month, setting a fund that dedicates to your learning every month will help you to find more consistency in upgrading yourself.

How Do You Start A Personal Development Fund?

You have to think about how much you are willing to invest in yourself every month. It can be $20, $50 or even a $100. With $50, you can get a good book on whatever topic that you want to learn about.

It doesn’t have to be a huge amount. Sometimes, it is just the little things that will make the difference. I set aside $50 every month for my Personal Development Funds. Usually, I purchase books from Amazon and download them to my Kindle for some reading. With $50, I can easily get on average 3 books with spare change for coffee.

All you need to get started now is to set aside a certain amount of money in your piggy bank or put it in an envelope and make sure that you spend that money every month. It isn’t really that difficult, or are you finding excuses?

What do you think? Do you think setting up a Personal Development Fund will help you to find more consistency in your personal growth?

Tell me what you think in the comment section below. I look forward to reading your views.

Cheers
Vincent


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2 Responses to “The Importance Of Having A Personal Development Fund – Do You Have One?”

  1. Glori Surban says:

    I never thought of a personal development fund before. I guess it is truly important, especially for books as you mentioned.

    At the moment though, an exercise fund is what I need most! LOL

    • Vincent says:

      Hi Glori. Thanks for dropping by. A personal development fund is really important, it does helps me to be more consistent with my self improvement. I believe it will help you too.

      What do you mean by an exercise fund? Something to help you to get exercising? Correct me if I’m wrong. 🙂

      Vincent