15 Sacrifices You Need to Make to Become Wealthy

Becoming wealthy involves sacrifice, here are 15 sacrifices that you need to make in order to become wealthy.


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Chapters

00:00 Start Here
00:46 Creating A Budget
01:32 Living Below Your Means
02:24 Setting Goals
03:20 Some of Today’s Income
03:59 Educating Yourself on Investing
04:44 Consistency
05:22 Patience
05:52 Delayed Gratification
06:31 Short Term Comforts
07:11 Expensive Entertainment
07:47 Saying No More Often
08:14 Living An Average Lifestyle
08:53 Driving An Average Car
09:37 Convenience
10:27 Stop Making Excuses

Nobody becomes wealthy by chance, but becoming wealthy involves making sacrifices. In this video, I share 15 sacrifices that you need to make in order to become wealthy.

1. Creating A Budget

Becoming wealthy starts with creating a budget where you know your income, spending, and savings/investing rate.

2. Living Below Your Means

No matter how much money you make, if you spend more than you make you will be unable to build wealth. Living below your means is extremely important when it comes to wealth building.

3. Setting Goals

Building wealth happens by setting clear goals on yourself. It is important to constantly set goals that lead you to a wealthier life.

4. Some of Today’s Income

A sacrifice is giving up something today for tomorrow. One sacrifice you must make in order to become wealthy is taking some of today's income and setting it aside for tomorrow.

5. Educating Yourself on Investing

The average person becomes wealthy by investing their money into the stock market and it is important to take the time to educate yourself on investing.

6. Consistency

Building wealth doesn't come from doing one single thing, but it comes from being consistent over a long period of time on following through with your goals.

7. Patience

The average person won't become wealthy quickly, but it often takes decades to happen. Having patience is necessary in order to become wealthy.

8. Delayed Gratification

Many people don't become wealthy because they are constantly chasing instant gratification. In order to become wealthy, you must delay your gratification so your future self can reap the benefits.

9. Short Term Comforts

One thing you must give up in order to become wealthy is short term comforts that don't give you much in the long term.

10. Expensive Entertainment

Another thing you must give up is expensive entertainment because this makes it a lot harder to build wealth.

11. Saying No More Often

If you say yes to everything in life, you most likely will be unable to reach your financial goals. In order to build wealth, you must say no more often so you can focus more on your goals.

12. Living An Average Lifestyle

The everyday millionaire got there by choosing to live an average lifestyle that does not impress anybody. That lifestyle allows them to dedicate more money to build their wealth.

13. Driving An Average Car

The #1 wealth killer people have is their car. It is important to settle with driving an average car so you are not burdened by an expensive car payment.

14. Convenience

Another thing you have to give up in order to free up money to build wealth is convenience. Convenience is expensive and prevents people from building wealth.

15. Stop Making Excuses

Finally, in order to build wealth you must stop making excuses and instead create a plan, set goals, and make sacrifices.

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