Sacrifices People Make to Prosper

woman reading instructions of box

Sacrifice is not a word anyone likes to talk about or experience. Unless, of course, it’s someone else doing the sacrificing for them. But, without sacrifice, no one would get very far in life.

There are many pathways to take, but the most important thing is for you to define what prospering looks like for you. Then, you can create a clear path to prosper for years to come. Remember that prospering isn’t a one-time achievement. It’s a million small choices every day, with small financial victories along the way.

Define your goals first, and then decide on what sacrifices are needed to reach them. Then, give yourself a timeframe. This can be a day, six weeks, six months, two years, etc. Whatever is needed so you’re able to reach your goals. But be realistic when you’re setting these timeframes for yourself. The last thing you want to do is create a sense of failure, which will deflate any momentum you originally had to achieve them.

 

To Prosper, Some People…

Sacrifice Time

This could be sacrificing time with family to work an extra job. Or, sometimes prospering is sacrificing overtime at your job so you can spend more time with your family. Again, you need to create your own definition of what it means to prosper. Deciding on your priorities will determine the sacrifices you will or will not make.

A smaller sacrifice may be deciding to work an extra job for a few months during the holiday season. Or you may decide to plan a shorter vacation, so you can save for a longer, more expensive vacation next year. Or you may decide to cut drive time and gas expenses by carpooling with others for two weeks.

 

Sacrifice Wants

There are always things people want. But just as it’s important to not always give kids what they want, you shouldn’t always give yourself what you want either. Here’s one thing to remember as you start sacrificing the daily “wants” you encounter: the goals you’ve created for your finances include your wants, too.

You may want to go to the movie a few times a month. You may want to go golfing all summer. You may want to buy a new wardrobe. You may want to buy your child all new toys for their birthday. You may simply want to grab that coffee and donut every morning on the way to work. But are these wants you can eliminate or hold off on so you’re able to put that money toward your high priority goals?

It might be time to sacrifice a few wants so you’re able to accomplish what you need to. But remember to set yourself a timeframe! Cut your wardrobe budget and wait for end-of- season sales. Cut out coffee and donuts for one month, etc.

 

Sacrifice the Best

This can sometimes be a tricky sacrifice financially. Purchasing low quality for some items can actually be a poor financial decision because the item may not last as long. But purchasing the highest quality item, could leave a larger dent in your savings or even put you in debt. As you look at cars, homes, apartments, and other larger financial commitments, do the following:

  1. Do some research. Take time to read reviews, talk the situation over with those you trust, and consider all your options.
  2. Analyze your budget to determine what you can afford.
  3. Display the spectrum. Within the high and low end of your budget, take a close look at your options. You might even chart it out, so you see the benefits and drawbacks of each option, at each price point.
  4. Decide whether the lower cost decision is fiscally smart, or if this is not a sacrifice you should make.

Becoming fiscally responsible is not about purchasing exclusively lower cost items, it’s about weighing options and seeing what will be best for both the short and long term, in regard to your budget and the item’s longevity.

No, sacrifices are not fun and they are not easy. But, by making a few sacrifices, you may be able to accomplish your goals with a little less stress and a little less work. It doesn’t matter what your financial goals are. To reach them, sacrifices are likely required. But they may not have to be life-altering sacrifices if you take a close look at your current situation and begin analyzing each of your money decisions. Remember that every financial decision and sacrifice (big or small) are just building blocks and will make a difference.