How much do you spend on your education?

24 replies
Hey Guys,

How much do you spend a year on your education?

I was watching a video online and it stated that one
guy spent a million dollars one year on his education.
No, not at some lame University but in coaching,
expensive seminars, etc.

But he claimed it was worth every cent! He also
claims that now he can make lots of money anytime,
anywhere.

I was a member of Perry Marshall's Master Mind
Group for some months and listened to many of his
talks.

He claims to spend about 40k a year on different
products and courses. Perry does it to stay in touch
with the latest advances in Internet Marketing. Some
of the stuff he just browses to see if it has anything
new or innovative.

I spend about 5-10k a year and would probably spend
more if I had it. I am very frugal in my lifestyle and
spend almost nothing om myself. But when it comes
to my business, I go for it!

What do you guys spend? And has it paid off for you?

Be Well
Don
#education #spend
  • Profile picture of the author RogozRazvan
    Good question.

    In the last year I've invested in about 60 eBooks (from Amazon), about 10 Audible audibooks, one course from Udemy, three paid workshops and one free one (which was actually in some way better than the paid ones). In average $3000 - $4000/year.

    And yes, it pays off. Every dollar invested in education brings 10 - 100x back in ROI in all areas of life.
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    • Profile picture of the author Sangfroid
      Originally Posted by RogozRazvan View Post

      Good question.
      In the last year I've invested in about 60 eBooks (from Amazon), about 10 Audible audibooks, one course from Udemy, three paid workshops and one free one (which was actually in some way better than the paid ones). In average $3000 - $4000/year.
      And yes, it pays off. Every dollar invested in education brings 10 - 100x back in ROI in all areas of life.
      Hi Rogoz,

      Sounds like you take it very seriously!

      I think in any business we need to keep up with the
      latest. But especially for Internet pursuits.

      There are a couple of good seminars coming up in
      my neck of the woods.

      1) Traffic & Conversion Summit Feb 17-19
      2) Jvzoo Marketing Mayhem March 19-22

      Both in San Diego


      Be Well
      Don
      Signature

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      • Profile picture of the author RogozRazvan
        Originally Posted by Sangfroid View Post

        Hi Rogoz,

        Sounds like you take it very seriously!

        I think in any business we need to keep up with the
        latest. But especially for Internet pursuits.

        There are a couple of good seminars coming up in
        my neck of the woods.

        1) Traffic & Conversion Summit Feb 17-19
        2) Jvzoo Marketing Mayhem March 19-22

        Both in San Diego


        Be Well
        Don
        I could do better than this.

        Education is NOT only about theoretical knowledge. It is not only about reading or going to seminars.

        It is about absorbing information that can be translated into productive action in all four dimensions - mental, emotional, spiritual, physical.

        Sky-diving is just as good as a form of education as it is an IM seminar. It teaches you to be brave. Playing the piano teaches you to focus. It is not always about practical info. These methods are relatively simple. It is about learning how to apply them effectively.
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  • Profile picture of the author QueenMelanie
    The internet bill is included in my rent, so my education is FREE! all you need is to be able to use Google properly, and you can learn anything you want, better than through University..
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    • Profile picture of the author Sangfroid
      Originally Posted by QueenMelanie View Post

      The internet bill is included in my rent, so my education is FREE! all you need is to be able to use Google properly, and you can learn anything you want, better than through University..
      Hi Queen Melanie,

      That is great but do you go to any seminars,
      live training/coaching or the like?

      I guess we can network thru the Internet. I
      must confess I resisted going to these public
      events but I have found them to be a great
      way to meet people in person.

      I agree that a University education is not as
      critical as it may have been in the past.

      After all, as you said, what is not on the net?

      Be Well
      Don
      Signature

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    • Profile picture of the author TheWriteOne
      Originally Posted by QueenMelanie View Post

      The internet bill is included in my rent, so my education is FREE! all you need is to be able to use Google properly, and you can learn anything you want, better than through University..
      Same goes for me, but I would spend money on it if I had money to spare. Just living on what I have right now and making the most out of it. When life gives you lemons, you make lemonade.
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      • Profile picture of the author Sangfroid
        Originally Posted by TheWriteOne View Post

        Same goes for me, but I would spend money on it if I had money to spare. Just living on what I have right now and making the most out of it. When life gives you lemons, you make lemonade.
        Hi The Write One,

        Lemonade can be very good!

        Life will always have plenty of lemons.

        We need to have a good attitude no matter
        what and never give up.

        Be Well
        Don
        Signature

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  • Profile picture of the author hardraysnight
    if the old adage, no education is true without a musical education, then far too much
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  • Profile picture of the author Odahh
    it really depend what you define as education ..

    if you limit it to skill you study in order to increase income ..and you have your own business..much of that should be write off worthy expenses ..

    if you are spending it from income you earn..after taxes double the actual figure because of the taxes that you and your business pay on income that goes to you .

    so lets say that 10 k was spent from your personal accounts and not your business expenses ..the business needed to pay out close to 20000 between you and verious government taxes ..and say you have a 50 percent margin on sales ..your business needs to make 40 k ..

    these are general concept figures but the shift of that 10 from person expense to business expense ..could easily cut the amount you business need to earn .. and reduce your own tax expenses .

    and you would not have to guess or estimate ..just look at the training expenses of your business
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    • Profile picture of the author Sangfroid
      Originally Posted by Odahh View Post

      it really depend what you define as education ..
      if you limit it to skill you study in order to increase income ..and you have your own business..much of that should be write off worthy expenses ..
      if you are spending it from income you earn..after taxes double the actual figure because of the taxes that you and your business pay on income that goes to you .
      .just look at the training expenses of your business
      Hi Odahh,

      I meant books, training materials, courses, seminars, coaching.
      Things like that, which further your businesses.Do you invest in
      such things? Probably but how much?

      Be Well
      Don
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    • Profile picture of the author Sangfroid
      Originally Posted by TeKn1qu3z View Post

      4.5 years - I spent about $80k

      I got financial aid tho

      Nice if you can get it paid for!

      Be Well
      Don
      Signature

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      • Profile picture of the author heavysm
        I spent $40+ grand for my bachelors and far more on my business education.

        All of it was completely worth it.
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        • Profile picture of the author Sangfroid
          Originally Posted by heavysm View Post

          I spent $40+ grand for my bachelors and far more on my business education.

          All of it was completely worth it.
          Hi Heavy,

          Was your bachelors in business?

          What has been the most beneficial in your
          business education?

          Be Well
          Don
          Signature

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  • Profile picture of the author jmferret
    A lot, but mostly in time (reading, writing and analyzing) and non-direct costs such as opportunities, missed sales etc.

    It is pretty effective though if you pay attention to those lessons life gives.
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    • Profile picture of the author Sangfroid
      Originally Posted by jmferret View Post

      A lot, but mostly in time (reading, writing and analyzing) and non-direct costs such as opportunities, missed sales etc.
      It is pretty effective though if you pay attention to those lessons life gives.
      Hi Jmferret,

      Yes, we gotta' learn from life, eh?

      Be Well
      Don
      Signature

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  • Profile picture of the author Jeff Willy
    I am now starting to buy paperback books for my business, both personal development, motivational, educational and skills books. I have spent countless dollars on product and company training, special training from motivational and successful coaches and a lot more. I can't count how much, but I really don't mind if I spend too much on buying books and other educational resources for my business, because I know one day I'll get back more than what I have spent, compare to spending hundreds of pennies just to buy a front seat live concert.

    Rich people are getting rich because they are educated rather than being entertained.
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    • Profile picture of the author Sangfroid
      Originally Posted by Jeff Caceres View Post

      I am now starting to buy paperback books for my business, both personal development, motivational, educational and skills books. I have spent countless dollars on product and company training, special training from motivational and successful coaches and a lot more. I can't count how much, but I really don't mind if I spend too much on buying books and other educational resources for my business, because I know one day I'll get back more than what I have spent, compare to spending hundreds of pennies just to buy a front seat live concert.
      Rich people are getting rich because they are educated rather than being entertained.
      Hi Jeff,

      I agree. I don't think that any money I spend on
      my business is a waste. I always learn and benefit.

      The money may not come right away but it will
      in time............

      Be Well
      Don
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  • Profile picture of the author Jdherko2588
    This year I have only spent money on E-Books, Books and online resources. Some Courses I found on Bittorrent sites. I have spent maybe $400 this year already.

    However I have a B.A. in Business Marketing and Advertising. A lot of general foundation I learned in College But as always the devil is in the details. Education is continuous, Time and money must always be spent in educating yourself.
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    • Profile picture of the author Sangfroid
      Originally Posted by Jdherko2588 View Post

      This year I have only spent money on E-Books, Books and online resources. Some Courses I found on Bittorrent sites. I have spent maybe $400 this year already.

      However I have a B.A. in Business Marketing and Advertising. A lot of general foundation I learned in College But as always the devil is in the details. Education is continuous, Time and money must always be spent in educating yourself.
      Hi Jdherko,

      Never stop learning! How many people with degrees think
      they don't need to learn anything else.

      And think that life should give them a good job and great
      income on a platter.

      I think especially on the net we have to keep up with the
      latest changes.

      Be Well
      Don
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  • Profile picture of the author sahariaremon
    This is a very good question Mr.sangfroid .Every one know education is the backbone of a nation.If you prosper in life you must be educated.There are many cost to learn education.
    I read in Telecommunication engineering. There are three step education
    1.primary level
    2.secondary level
    3.higher level
    In this three level my total cost 20000$.
    This is no matter one time i span lot of money .After that future i will return.
    Be well
    Don
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    • Profile picture of the author Sangfroid
      Hi Sahaiaremom,

      I agree that it is money well spent. It
      is easy to waste money on unnecessary
      things. But investing in ourselves is
      always good!

      Be Well
      Don


      Originally Posted by sahariaremon View Post

      This is a very good question Mr.sangfroid .Every one know education is the backbone of a nation.If you prosper in life you must be educated.There are many cost to learn education.
      I read in Telecommunication engineering. There are three step education
      1.primary level
      2.secondary level
      3.higher level
      In this three level my total cost 20000$.
      This is no matter one time i span lot of money .After that future i will return.
      Be well
      Don
      Signature

      {{ DiscussionBoard.errors[9860118].message }}
  • Profile picture of the author art72
    Last year I spent about $7,000 getting my tools, license, ins, biz cards, etc... to start up an offline mobile detailing business and dropped my online efforts... I needed a break from the computer to clear my head.

    I already had the knowlege of detailing from watching free Mike Phelps "how to" videos, along with a clean work van, and the artistic vision to create my logo on my van and website.

    With reasonable expectations based on research (and in educating myself), I sought to generate $3,000 - $4,000 per month... Which I did.

    However, I quickly learned something I did not have the privilege of knowing (human ignorance perhaps)...I hated cleaning up other peoples crap, and detailing 3-4 cars in a day... is physically exhausting.

    My point is, 80% of the 'education' I have (which btw is far more advanced than detailing cars) has not been acquired through neither traditional nor formal academics, or any amount of 'paid education'- but rather investments of experimentation, experiences, and actually doing...as opposed to going on any academic sabaticals (outside of studying IM) and a few purchases to explore the information and to determine if it could fit into my (next) business attempts.

    Now, in evaluating my results... I made approximately 5x my initial investment detailing cars & being educated to the fact;

    Had I written ( which I still may) a "How to Start Your Own Detailing Business for Under $5K" manual and applied my (virtually free) education concerning IMing... I probably wouldn't have wasted nearly 10 months 'being educated' to the fact that detailing cars sucks!!!

    But... Writing up a tight sales funnel, creating a digital info product, obtaing highly targeting traffic, building a list, emailing value, and charging people to learn about (or educate themselves) by exploiting the benefits of detailing cars... Priceless!!!

    Moral of the story, I rarely spend money 'getting educated'...as I generally get paid to learn what I didn't want to know, lol.

    But seriously, education (knowledge) cannot be valued by 'how much' you spend or spent on acquiring it' but rather the results you attain from the acquisition.
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    • Profile picture of the author Sangfroid
      Originally Posted by art72 View Post

      Last year I spent about $7,000 getting my tools, license, ins, biz cards, etc... to start up an offline mobile detailing business and dropped my online efforts... I needed a break from the computer to clear my head.
      I already had the knowlege of detailing from watching free Mike Phelps "how to" videos, along with a clean work van, and the artistic vision to create my logo on my van and website.
      With reasonable expectations based on research (and in educating myself), I sought to generate $3,000 - $4,000 per month... Which I did.
      However, I quickly learned something I did not have the privilege of knowing (human ignorance perhaps)...I hated cleaning up other peoples crap, and detailing 3-4 cars in a day... is physically exhausting.
      My point is, 80% of the 'education' I have (which btw is far more advanced than detailing cars) has not been acquired through neither traditional nor formal academics, or any amount of 'paid education'- but rather investments of experimentation, experiences, and actually doing...as opposed to going on any academic sabaticals (outside of studying IM) and a few purchases to explore the information and to determine if it could fit into my (next) business attempts.
      Now, in evaluating my results... I made approximately 5x my initial investment detailing cars & being educated to the fact;
      Had I written ( which I still may) a "How to Start Your Own Detailing Business for Under $5K" manual and applied my (virtually free) education concerning IMing... I probably wouldn't have wasted nearly 10 months 'being educated' to the fact that detailing cars sucks!!!
      But... Writing up a tight sales funnel, creating a digital info product, obtaing highly targeting traffic, building a list, emailing value, and charging people to learn about (or educate themselves) by exploiting the benefits of detailing cars... Priceless!!!
      Moral of the story, I rarely spend money 'getting educated'...as I generally get paid to learn what I didn't want to know, lol.
      But seriously, education (knowledge) cannot be valued by 'how much' you spend or spent on acquiring it' but rather the results you attain from the acquisition.
      Hi Art,

      Sounds like you are doing great. Not everything works
      out. Try ready "The Everything Store" by Jeff Bezos.

      Jeff made mistakes all the time but he did not let it stop
      him.

      Keep on, keeping on.


      Be Well
      Don Berg
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