We are all presented with choices every day. Should I push my viewpoint in a meeting, or should I reserve my position and keep it to myself? Should I walk down the dark alley on my way home, or should I walk in the well-lit path? Should I top-off my gas tank, or just keep driving? Choices abound in all we do every, single, day, choose wisely.
We are all pre-occupied with saving money where we can, pinching pennies and being frugal are wonderful qualities in a person, especially as the head of a household. Our families are the prime impetus to make the most of our yearly salaries, life can get expensive, fast!
Expense versus return
Most among us are familiar with “return-on-investment” or ROI in the business vernacular. We consider investing for our futures by saving for retirement, usually consisting of playing the Wall Street game. It takes money to make money, right? Investing denotes risk, typically, par for the course in financial circles. Ideally, we seek to minimize or even eliminate risk if we can.
Seek professional help
Most people want and need to feel a sense of control over their situation. Consider the homeowner taking the impetus to maintain the largest purchase of their lives, their very own home. Most homeowners take a stab at the little things, a leaky faucet, a clogged sink, even patching small holes and dents in drywall.
The question would be, “If I perform this repair, will I save money?” An alternate view would be the self-analysis, “Am I qualified to perform this repair, or am I fighting above my weight class?” Should we even undertake some tasks, or hire someone skilled in that regard?
Weighing your options
If I were your doctor and referred you to an infectious disease doctor due to breathing difficulty, high fever, and vomiting, you would probably consider it a necessity to visit the specialist for a higher level of care, correct? If you owned a high-end performance vehicle, would you change the transmission yourself? If you smell gas in your basement, do you excavate the buried gas line until you find the leak? (hopefully not!)
All levity aside, let’s discuss the largest purchase or sale we will ever make in our lives, home-sweet-home! Real estate professionals are typically responsible for selling your home for $47,000 more nationwide and far fewer days on market (DOM). I cannot think of a time when I would turn down qualified, professional help, it is not smart in the long-run.
In short, don’t perform your own open-heart surgery, change the transmission in your Lamborghini, or sell your half-million dollar home on your own. It’s admirable to be a self-starter, someone who is inspired to do it themselves. In some situations, it is truly not a wise decision.