Last Updated on February 18, 2023 by the thought method co.
Investing in yourself can be overwhelming and confusing at first. There are a lot of resources and things to think about. But with a little reflection, research and patience, you can become an expert investor in no time.
Start by taking a personal inventory to understand where you need to focus. This is akin to checking out stocks and investment opportunities for a financial portfolio. With your personal inventory you will uncover where you need to focus to get the biggest gains. You will also uncover quick fixes and easy wins.
What is Personal Inventory?
Taking personal inventory is the process of reviewing and reflecting on different areas of your life. It involves being honest with yourself about what you want, what’s going well and areas you could improve.
This process helps you gain insight into yourself and your behavior, while also providing a platform to identify areas of growth and areas where you can practice self-care.
Benefits of Taking a Personal Inventory
Taking helps you:
- create clarity and goals
- realize what’s going right
- identify areas of improvement
- think critically about your life and values
- become mindful of your decisions and behaviors
- create and track progress towards goals
- take action and make changes that will lead to a fulfilling life
Types of Personal Inventory
There are several different types of personal inventory. Some personal inventory types include:
- values and goals
- strengths and weaknesses
- time management
- personal networks and support systems
- finances and fixed costs
- short and long-term goals
- relationships and connections
Taking the time to assess each of these areas can help you better understand where you currently are and the steps to get to where you want to be.
How to Take Personal Inventory
The first step in taking a personal inventory is deciding what part of your life you would like to focus on. If everything but your finances are going well, then you likely want to focus on finances. If everything seems to be going to shit, then you might way to do an inventory in multiple areas.
You can decide what to focus on by considering how well you think your life is going in the following areas:
- Identity and Meaning
- Physical Health
- Mental Health
- Relationships & Connections
- Career and Mission
- Education & Development
- Hobbies and Recreation
- Spirituality and Contribution
Whatever area (or areas) jumps out at you as needing improvements is where you want to focus. You can focus on more than one area at a time, but for best results, work on identifying your key areas of focus. Or the areas that you need to do the most work in.
Bringing It Together
There is a lot to learn and consider when we start to invest in ourselves. Taking inventory helps you slow down and collect. It will help you decide where to focus and concentrate efforts. It is also a way to memorialize where you are now. So in the future you can look back and see the progress you have made.
If you want to create a personal inventory but you are still not sure where to begin, a great way to start is by creating a personal likes and dislikes list, like this one here.
Download a free Likes and Dislikes template here.