Fiology thanks the FI Community’s DIY expert Captain DIY of DIY2FI for shaping this lesson.
Many in the Financial Independence Community are predisposed to look for reasons to do it yourself rather than hire out tasking. When asking yourself “Should I do it myself or outsource?” it is important to consider the following. A “Do It Yourself” (DIY) attitude can be a positive and prevailing force in our Financial Independence journey. Up to this point in the Fiology lessons you have noticed the message of taking ownership, in particular, in regards to your finances. By now you understand the benefit of creating the basics of your financial plan without the assistance of expensive advisors and products. Now let’s take a look at everyday challenges and see if we can incorporate this same can-do attitude to build our skills set and confidence while spending less and investing more.
In many cases after we have hired a “professional” contractor to complete a task or job, we are not 100% satisfied and/or think that we could have done it just as well or better had we attempted it ourselves. From installing our own fence or building a square foot garden to repairing our ice-maker or replacing our car’s alternator, with a little research online and a can-do attitude we can likely do these things ourselves. If fear of failing is keeping you from taking on these (and other) challenges, watch the Ted Talk below before moving onto the other resources. Of course there are tasks better left to the professionals but it is worthwhile to consider the many benefits of defaulting to a can-do-it-yourself attitude.
Watch: My 40 Days – facing the fear of failure | Caleb Meakins | TEDxAstonUniversity by Caleb Meakins on YouTube
Read: Create Wealth With A Do It Yourself Attitude by Billy B of wealthwelldone.com
Read: Tools Every Homeowner Should Have by Captain DIY of diy2fi.com
Read: Checklist for a Trouble-Free Home This is a good place to start. We tend to neglect home maintenance that can result in future problems. Most of the maintenance items are simple and can be completed in a short amount of time.
Watch: HouseSmarts “Home Maintenance Checklist” Episode 143 by HouseSmartsTV on YouTube. This is a brief overview of what to think about home maintenance.
Explore: Lifehacker DIY. This site has many hacks and DIY projects for enthusiasts ranging from techies to makeup artists.
Take Action: Think of a project in or around your home that you think you want or need to complete. Instead of defaulting to calling a contractor, take a few minutes online and attempt to understand the true requirements to complete the project. If it is something you can safely attempt with minimal risk, consider doing it yourself.
Quote: “No one can come and claim ownership of my work. I am the creator of it, and it lives within me.” – Prince