Everyone dreams about being a millionaire, but in all truth, the road to riches isn’t all rainbows and sunshine.
It is a difficult road with many ups and downs and there’s a reason why there’s more poor people in this world than rich people. In order to live the lifestyle of the wealthy, you have to make a lot of sacrifices, and that’s not something that most people are willing to do. If you’re strong enough to endure the road of thorns, however, there’s a life of freedom and happiness on the other side.
Today, we’re going to be talking about the five crucial sacrifices that wealthy individuals make for their vast fortunes. Be sure to like this video and subscribe if you’re interested in the topic of accumulating wealth.
Number 1: Television and Video Games
This is a no brainer. The simple fact of the matter is that getting rich takes hard work and a lot of it. This means you can’t waste your time sitting around playing video games or watching TV. You know that old saying “time is money?” Well, it’s true. Sure, you can work 8 hours then spend the next 6 hours getting caught up on a TV show before you go to bed. Most people would see that as a day well spent and, like we said before, most people are poor. Rich people, however, would see that as 6 hours down the drain. If you spend 6 hours every day of your work week catching up on shows or playing video games, that’s around 30 hours of time you could have spent working to get you closer to your financial goals. This is the way rich people think. They sacrifice all of the time they can to work hard towards their goals. Elon Musk is a testament to that. Maybe you’re thinking “Then what’s the point of becoming rich if I have to work all the time?” What you might not know, however, is that rich people often make it big doing the things that interest them. They get their satisfaction in life from completing tasks and growing their wealth, not from defeating another level in a video game.
Number 2: Luxury Expenses
Time for a dose of reality. Having a fancy sports car and designer clothes doesn’t make you rich. Eating lobster tail and truffles doesn’t make you rich. Buying the newest state of the art iPhone doesn’t make you rich. In fact, all of these things actually make you poor. These are luxury expenses and you can get the same outcome, for the most part, from their cheaper counterparts. You can still check social media and talk to your friends on an older model phone. You can still drive to work on a budget car. You can still live on ordinary food you buy from the grocery store. That’s not the only reason these purchases are unwise, however. These luxury items also make you poor because they don’t accrue in value, they only deplete. These purchases contribute nothing towards your financial goals. Poor people will spend their money on a brand new car to feel rich and important, whereas people who actually want to get rich will live average lives to invest in the projects that are going to make them the most money.
Number 3: Money
Sounds counter intuitive, right? In order to make money I have to spend money? Yes, you do. The reason you won’t be spending your money on truffles or lobster is because you’ll be busy spending it on investments and projects. Successful people invest their money into things such as their business, real estate, stocks, and even cryptocurrency. You’re not just going to get rich overnight. These things cost money, and to get what you want, you’re probably gonna have to put something in. You might hear of an entrepreneur making a lot of money, but it is likely they don’t actually keep it all. Much of it is probably being put back into their business for advertising and labor costs. Successful people also invest in their education. It pays off to learn from those who have already succeeded. You don’t have to make the same mistakes they made along the way if you can learn from them. That’s why spending money on books and coaching pays off.
Number 4: Unsuccessful Friends
This might be hard to accept, but your friends can drag you down considerably. If you want to make a lot of money, you might want to cut some people out of your life. This includes toxic friends that bring you down or don’t motivate you to grow. Many rich individuals make it a point to restrict their inner circle of friends to people who make a positive impact on their lives. They seek out friends that motivate them or are generally a positive influence in their lives. If all you do with your friends is play video games or watch sports, chances are they’re not helping you achieve your future goals. Poor people hang out with other poor people who have bad habits.
Rich people hang out with other rich people who have a better influence on them. Yes, you might have known your best friend for a long time and, yes, maybe he was even the best man at your wedding, but if all you do when you hang out with him is drink beer and play Call of Duty, he’s probably not a friend you want to hang out with too much. You’ll also want to cut out those friends who get jealous when you succeed in life.
Number 5: Pride
Pride is considered one of the 7 deadly sins and, whether you are religious or not, it might be something you want to take into consideration. It is usually insecure people who are prideful because they deeply want to view themselves as superior. Well, that sentiment won’t do you any favors. Prideful people like to spend money on nice cars, clothes, and jewelry so they can feel like they are better than others. Prideful people also think they are too good to do certain jobs or tasks. Being successful is not always luxurious. You might find yourself doing mundane tasks that you wouldn’t expect a successful person to do. Elon Musk has even admitted to sleeping on the floor in the Tesla factory so he could be there when his employees needed him. Prideful people also have a hard time admitting when they are wrong, but the truth is we are all wrong sometimes. It is important to admit when you are wrong so you can learn from it.
So there you have it. What do you think of our list? What are some of the sacrifices you have to make on a daily basis to make money? Let us know in the comments.