4 Sacrifices to improve our financial life.

To be successful in life, there are sacrifices we make to achieve our goals. There are things we have stretched ourselves on just to become the best version of ourselves. Success, to most individuals, tends to be tied to financial status. They believe once an individual has become wealthy, he is already successful.

Though success can mean many things in the general aspect, in this post, I will be talking about the aspect of financial status. Being able to attain financial independence is a success especially when the individual has taken risky steps to get there. Wealth and success do not come without going through challenges and being willing to make and be committed to necessary sacrifices. There are sacrifices which we might need to clasp to make our ways easier to succeed in the journey of personal finances.

Sacrifice impulsive buying: Impulse buying is the act of purchasing an item or a product without making any plan ahead of time. Impulsive buying is often associated with emotional decisions. These purchases are usually made immediately after an individual decides merely to see an item that fascinates him or her.

Sacrificing impulsive buying is like forcing oneself not to purchase an item for a limited period. For instance, an individual can set a rule not to buy some products for the next 30 days which is a month, and follow through without breaking the rule to focus on his or her savings and investment plan. After the 30 days is complete, the individual can go ahead to purchase whatever he or she wants, but knowing that they have successfully helped themselves to save some amount of money which they could have spent before then.

Sacrifice Wants: Most individuals still find it difficult to differentiate between wants and needs. One can do without wants but cannot do without needs. There is a clear difference between what you need to help your personal life and something you only desire for a while after which it turns to dust. Sacrificing your wants means limiting yourself to a budget and making sure you do not spend all your income.

It is normal to go out on a treat every once in a while, but luxuries that are not important or necessary should not be a regular part of one's spending. The truth is that if one cannot control the way he spends, he should forget how much he earns because he is going to spend all focusing on wants rather than needs.

The majority of people do not optimise and limit their spending and they keep complaining about their income. It is necessary to set aside our desires and focus on our needs. "Do I need it now?" This can be a helpful question to ask oneself whenever one feels the urge to consume. So, it is also important to cut down on expenses as it is just one side of the coin, there is also a need to look at ways to improve how much money is entering. This may exactly mean finding more sources of income.

Sacrifice comfort zone: Most individuals are satisfied with the interest rates on their savings account as they believe that the money is always safe there and will not lose value. This is not so true because everyday inflation happens and this may keep eating up your savings. As the world and economy are right now, everything is so expensive and the price of goods keeps skyrocketing by the year. So, you are losing money!

Sacrificing your comfort zone to better your finance is taking calculated risks and pushing yourself to look into viable investment opportunities. For one to battle against inflation, one must take more risks and accept volatility as a normal part of the journey.

Sacrifice time: They say time waits for no one and time is money. The way you spend your time is what defines you. Sacrificing time means that one has to sacrifice some time in their life to personally develop themselves which could potentially lead to the financial independence one aimed for. To earn a higher income, sacrificing more of one's time is necessary. This is just like desiring a raise in your company, you most likely need to work harder or for longer hours to achieve that.

In conclusion, sacrifice is important to get something. Making financial sacrifices thereby working a bit harder now will pave the way for success later. In the end, it is only the knowledge we acquire and act on that empowers an individual.

Thanks for your time on my blog.