Daily Routines of Successful Entrepreneurs: #3 The Power of Self – Sacrifice: Control your expenditure

Jul 09 2020
Kwasi Godson

Written by: I.K Adusei

Entrepreneurship is a lonely journey which requires a lot of self-sacrifices. To start small, grow big and stay on top, self-sacrifice is a basic requirement. Human needs are infinite. The more money you make the greater your purchasing power. It is what you spend your money on that makes you rich or poor.

Self – sacrifice is the ability to keep your expenditure low to create a surplus, even when your income or earnings increase.

According to Robert T. Kiyosaki, the main reason why the rich keep getting richer, the poor getting poorer and the middle-class keep shrinking is that the rich buy their luxuries last while the poor and middle-class buy their luxuries first.

The rich are able to endure long years of financial discipline, denying themselves of things which the poor and middle-class spend their money on in order to create a surplus to be reinvested in other business ventures.

The poor struggle to make money but their lack of financial discipline makes them poor. They spend ALMOST ALL their money on goods and services provided and supplied by rich merchants.

The middle-class always look rich. Their lifestyle of keeping up with the Joneses keeps them always in debt – spending money they do not even have.

To create wealth, you need to create a surplus. To create a surplus, you need to control your expenditure. To attain true financial freedom, one needs to defer his or her current gratification for future financial freedom. Control your expenditure now to become financially wealthy!

Read more: How To Start Small: Financial Skills For Business Success a Book by I.K Adusei

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