Episode #391 – Money Mindset Series Part 4: Why the Smartest Investment You’ll Ever Make is YOU

I’m Cherylanne Skolnicki, and this is Brilliant Balance, the show for those of us who still dare to want it all—who have big dreams and bold ambitions. I believe we deserve to have a big, full life and the freedom to enjoy it. So let’s design our next chapter together—for brilliance, not burnout.

Each week, I bring ideas, insights, and a fresh perspective to keep you growing into a life that feels as good as it looks. Brilliant Balance: your life, your way. Now let’s get started.

This is episode 391 of the Brilliant Balance podcast, and we are in week four of the Money Mindset series. Today, we’re talking about why the smartest investment you’ll ever make is in yourself.

I am so delighted by the feedback we’ve been getting about this series. I think we’ve really struck a nerve on a topic that is perhaps even more important than I initially thought. I love knowing that you, as a listener, are feeling more empowered and confident about your relationship with money. Some of the specific comments we’ve received have been incredibly encouraging—so thank you for listening and for really taking to heart the insights you’ve gained.

Today’s episode is all about you—and why the smartest investment you’ll ever make is in yourself. This may feel like a paradox for a lot of women who have been taught to invest in others and to sacrifice themselves. And here I am suggesting that an investment in yourself is one that could truly pay off. But I believe this to my core, and I’m going to dig into all the details in this episode.

Today, we’re talking about expenses and investments. Before you roll your eyes or yawn, know that this is our fourth and final topic in the finance series. Next week, we’ll get back to other subjects. But this one came out of a discussion I had recently with my 13-year-old, and I think it’s the perfect conclusion to this series. It represents the next frontier for most women. And I figured—why not start early?

We were out for a walk one evening after dinner. This poor kid doesn’t get a mom who talks about the weather or sports—there’s always something deep and meaningful on my mind. There are a lot of new homes being built near us, and she was curious about the whole process of buying a home. We talked about the difference between a vacant lot, a half-built spec home, and an existing home for sale. Naturally, that led us into a real estate 101 conversation.

She wanted to understand the cost of buying a home and how that compared to renting. So I helped her think through the difference between an expense—like rent—and an investment—like a mortgage. She quickly grasped the idea that an investment has residual or even increased value over time. If you buy a house and pay for it over 15 or 30 years, you eventually own a valuable asset. If you rent for the same time, that money is gone, with nothing to show for it.

This concept gave us a simple way to understand the difference between an expense and an investment. We expanded our conversation to include things like leasing versus buying a car, and other types of spending. As we went, I realized that our definition of “investment” might be too narrow. Even as adults, we tend to equate investments with financial instruments.

Meanwhile, my poor daughter was probably relieved when we finally got home. But now, you and I are going to have part two of that conversation.

Think about this: if you looked at all the money that passes through your hands each month, which expenditures would you classify as expenses and which would you call investments? Have you thought about this lately?

When most people hear “investment,” they think of stocks, bonds, mutual funds, retirement accounts—financial instruments where you put money in and (hopefully) get more out later. The word “investment” can be scary for some people due to lack of knowledge.

Because of this, women are statistically less likely to invest in traditional financial instruments than men. We don’t invest as early, and we don’t invest as much. A survey by BlackRock showed that women hold 71% of their assets in cash, compared to 60% for men. That’s an 11% gap that’s now being referred to as the “gender investment gap,” much like the gender pay gap.

Why does this happen? Cash feels safe. But it doesn’t grow. In fact, over time, cash loses purchasing power. That loss has a real cost. For example, a woman earning $100,000 a year could lose up to $1 million in investment gains between ages 30 and 65 simply by holding excess cash instead of investing like her male counterpart. That’s a significant missed opportunity.

Understanding and participating in traditional financial investments is crucial for women. Especially because we are living longer, and many of us will spend part of our lives single—whether due to divorce or widowhood. Financial independence is non-negotiable.

But today I want to expand beyond traditional financial investments and explore three additional places where your money can go and still yield a return. These might not bring the same financial return as the stock market, but they are equally important.

1. Business Endeavors

This idea came up during the walk. We talked about the costs of starting or growing a business—hiring employees, investing in marketing, buying a franchise or a building. These are all examples of business investments.

When I talk to women considering starting businesses, I often hear fear-based language like, “I don’t know if I can throw that kind of money away.” Or, “I don’t want to burn that kind of cash.” That language reveals a mindset that sees business spending as waste rather than investment.

But if you’re clear that starting or growing a business is an investment in generating future revenue and profit, your mindset shifts. It becomes easier to justify the spending and see it as part of a longer-term growth strategy.

2. Education, Certifications, and Training

We also talked about education—things like tuition, training, and credentials. It’s easy to view college or private school tuition for your child as an investment. But what about getting a real estate license, a Six Sigma Green Belt, or a project management certification?

Or taking a cooking class to help you prepare healthier meals more efficiently? Or hiring a health coach or a personal trainer? What if working with a marriage counselor helps you avoid divorce? Are those expenses or investments?

If they yield a measurable improvement in your health, relationships, skills, or earning potential, I’d argue they are investments. Even if the return is indirect—like avoiding future costs—there’s still ROI.

3. Experiences

Finally, what about experiences—particularly travel? Is travel an expense or an investment?

Think about sending your child to an overnight camp that transforms them. Or attending a cultural event that opens your mind. Experiences like these have long-term impacts.

My husband and I took a trip to Italy before our first child was born. Fourteen years later, that trip still enriches our lives through memories, perspectives, and lessons. The return is intangible, but it’s real.

These types of investments might not yield financial dividends, but they offer rich returns in personal growth and perspective. In some cases—like business ventures or education—they can also lead to greater income.

The Big Question

So this week, ask yourself: What is your confidence level when it comes to allocating money to investments? How do you feel about these decisions—whether they’re about stocks and bonds or business ventures, education, and experiences?

Do these expenditures scare you, or do they excite you?

Thank you so much for tuning in today and sticking with me through this four-part series. It’s been a joy to explore this topic with you. Next week, we’ll be back to our usual variety of themes. I’m grateful to have shared this conversation with you—and until next time, let’s be brilliant.