I’d imagine that most people want to have the good things in life. A nice house, beautiful cars, jewelry, fine wine, and most importantly, a never ending inflow of money! However, not everyone has these things, because quite frankly, wishes don’t generate wealth — ideas, proper planning and execution do! There has to be a significant amount of work and discipline for one to attain a status of wealth, unless of course you’re born into a rich home, marry a rich person, or maybe you win the lottery. Other than that, you’ve got to plan your way to being rich, and that plan involves making sacrifices. Here are 9 most rich individuals must make!
There’s a general concept in life of “give and take”, and in this case, what you’re giving to get what you want is what I would like to classify as the sacrifices you have to make to become rich.
Now, making sacrifices is easier said than done. It all starts with being absolutely certain of what you want out of life and making the decision to chase it till the very end. After your decision has been made, you will then have to draw up a plan to guide you accordingly. In this plan, you have to list out those potential roadblocks that will slow down or put an end to your ambitions. When you’ve listed out these “stop signs”, you have to be prepared to let them go! Let’s take a look at these 9 sacrifices so that you can start your journey to wealth immediately!
Sacrifice #1: A Flashy Lifestyle
Honestly, it’s only rich people that can afford to live a flashy life — an average or poor person can’t. This doesn’t mean an average earning individual cannot go out of their way to buy something really expensive, or eat at a high-class restaurant, because they can. But can you really afford it?
Living above one’s means will not just stop you from being rich, it will actually lead you into debt! Accumulated debts will do a lot of damage to your cause, so you have to do everything possible to avoid drowning in it.
Peer or societal pressure can also lead you towards acting irresponsibly with your money. Just because your high school pal eats at a 5-star restaurant and puts up pictures on Facebook doesn’t mean you should do the same. A person who tries to “keep up with the Joneses” when they truly can’t, will end up “shooting themselves in the foot”, financially speaking. For you to get rich, you have to kick the flashy lifestyle to the curb and channel your resources into growing your wealth, not spending them just to show off!
Sacrifice #2: Distracting Entertainment
Being entertained is cool, but not all forms of entertainment are helpful, some are actually distracting, especially when you dedicate too much time and money to it. Take going out to bars every night as an example. Doing this regularly will not only steal your time, but it will also steal your money as well.
Imagine spending long hours watching several movies or listening to every album on your playlist! Or ending work at 5pm and hanging out at the bar with your friends until it closes! You’re spending too much time being entertained, and being overly entertained will not add a penny to your wallet, instead, it will keep taking from it. The time spent being unproductive can be better spent making plans that will lead you to achieving your financial goals.
This is not to say you shouldn’t relax at home and watch movies. After all, we all need a break every now and then. I’m just saying you shouldn’t dedicate too much time to it. There should be adequate time for everything. A time to plan, a time to work, and a time to relax. Draw up your daily timetables and stick to it. Entertainment should be given the least time!
Sacrifice #3: Sleeping Too Much
The health benefits of having adequate sleep are awesome, however, if you want to be rich then you’ll have to sacrifice that too! Most rich people will tell you they sleep for about 3 to 4 hours a day. Entrepreneurs spend most of the day with their eyes wide open, planning and executing. If you’re the type that oversleeps, then you’ll have a huge mountain to climb before you get rich. That mountain is high enough already, and you’ll need a huge amount of consciousness to climb over. Being rich requires you to work, and only a conscious person can work. You can set your alarm to help you with your sleep. As the old saying goes — “The early bird gets the worm”. Keep in mind that you won’t have to lose sleep forever, it’s just for the time being. The sooner you can achieve your goal; the more time you can spend sleeping in.
Sacrifice #4: Family Life
A lot of rich people have had to deal with the unpleasant experience of being alone, at least in the early days of their struggle. The road to riches involves planning, timing, executing, and FAILING! Your parents may have told you to stop wasting time with that unrealistic dream of yours. Your significant other may have told you the same thing, especially when they can’t physically see any progress with your hustle.
Nobody loves a loser, so naturally, your partner may abandon you along the line. It could even be up to you to abandon them, at least for the time being.
Nothing hurts more than being doubted by your own family members. Ouch! To attain wealth, you may remain single while all your mates are getting married and having kids. It could be painful, but that’s one of the things that may have to give for you to reach the promised land. If you have a partner or parents that show support to your ambitions, then you’re among the lucky few. If not, you’ve got to let them go and do what’s best for you.
Sacrifice #5: Friends Who Don’t Share The Same Vision
This could be one of your biggest hindrances to being rich. When you have a group of friends who don’t care or have no interest in what you do, then you have to separate yourself from them. They could be your best buddies from high school or college, but that doesn’t count for much on the road to riches.
I’m not saying your friends aren’t great people, I’d like to assume they are, I’m just saying that it’s really a waste of time being around people who don’t contribute anything to your ambitions. No person is an island, we all need people, but the right people. Imagine if you were an IT person who wants to build a social media platform that will rival Instagram, but the friends you have around are tailors and hairstylists. What kind of progressive conversations can you have with them, as it pertains your dreams?
In this instance, don’t you think you’d achieve more if you had friends that were in the same line of work as you? Spend very little time with friends who aren’t in the struggle with you, but still maintain a healthy relationship with them, just in case they know someone that can help!
Sacrifice #6: Destructive Health Habits
Health is wealth, as some people say and I totally agree! There are certain habits that are just bad for your health. These include excessive smoking and drinking, drug abuse, poor diets, and a disregard for exercise.
Take drug abuse and excessive drinking for instance. How can you plan and execute when you’re high or drunk all the time? Besides being time wasters, such habits could actually send you to the hospital. Imagine how much damage these habits can cause to your body; also think about how much you’ll need to spend on treatment! Not to mention the fact that you can’t chase your dreams if you’re on a respirator, or in rehab!
You must have heard stories of prospects who fell by the wayside due to their drug or alcohol habits. So many people who could’ve been “somebody” in life have fallen victim to these terrible habits. For you to attain wealth, these bad habits just have to go, it’s non-negotiable! Also, dedicate time to exercise and meditation and try and eat right too. Remember, you need your body to work. The better you feel physically, the more you are equipped to achieve.
Sacrifice #7: Unnecessary Comfort
When you’re too relaxed, you will not feel the need to do more for yourself. A little bit of discomfort could actually trigger you to work harder and smarter. If you’re a young person still enjoying the comfort of your parents’ home, then you may just need to move to that tiny little apartment elsewhere. Putting yourself through the fire will spike your ambitions. Some tacks under your feet will help you learn how to dance! Don’t get too comfortable, or else you stand the risk of losing sight of the goal.
Sacrifice #8: Financial Stability (A 9 to 5 Day Job)
This falls into the bracket of being comfortable. That 9 to 5 “dream job” is a potential “nightmare” for those who want to get rich. Who are we kidding, the richest people in the world didn’t get to where they are with a college degree and a regular day job. They stuck their necks out and shunned several job opportunities to get to where they wanted to be. Think about it, do you think Mark Zuckerberg would be one of the richest men in the world if he took a decent paying job in a reputable firm? No, he wouldn’t!
He’d be earning a decent salary and probably be satisfied with that. However, rich people don’t earn salaries, they create jobs and generate wealth. Having a decent job ensures you will have financial stability, and having financial stability means your ambitions of being rich will surely be depleted (unless you resign of course). Knowing you have a paycheck waiting for you at the end of the week or month will make you relax, and people who want to be rich do not relax. They fight until they win. This is a massive sacrifice you must make to be rich. Your friends, family, or significant other will keep telling you you’re making a big mistake turning that job down, but you have to be strong enough to shake it all off and keep your eyes on the prize!
Sacrifice #9: Instant Gratification
If you want to be rich, then you can forget about getting instant gratification. The chances of you getting instant rewards from your business are 1 in a million. Building up wealth takes time. It could take 10 years of consistent planning and executing, learning and unlearning, and of course a truckload of failures. Getting rich doesn’t happen overnight, it takes time, a whole lot of it. Truth be told, no one knows how long it will take for you to reap the rewards you desire. If you want instant gratification, then you may as well go and get a regular job. Your rewards in that instance, would be instant. But if you want to rank among the people who we refer to as “the rich”, then you just have to be patient.