A sacrifice means giving up something valued for the sake of other considerations. Often a sacrifice means giving up something really pleasant. Think expensive restaurant dining, shopping, and vacations that cost an arm and a leg.
Sometimes, the urge to spend and be like everyone else is so strong that we ignore the very real fact that our finances are shaky at best. You’ve heard the expression “Keeping up with the Joneses” . This is one of the worst things that you can do. You can not compare yourself to others. If you ever plan on becoming financially independent, you need to start making sacrifices.
What Sacrifice Today To Ensure A Better Tomorrow?
My husband and l recently celebrated our tenth wedding anniversary. This got me thinking about what sacrifices we had to make in order to make sure we would be financially okay in our later years. One of the biggest sacrifices was foregoing a big wedding celebration that would have cost us a bundle.
An average wedding in the U.S costs $33,900. A friend of ours had gotten married 4 years before we did. It was a big splashy wedding, complete with doves and hand-engraved invitations, not to mention the goody bag with a customized DVD of the couple and their courtship. His wedding cost in excess of $37,000 and he was still paying it off many years later!. We didn’t want to be in the same situation with added debt.
Much as l love my friends, I’m pretty sure me, along with the other guests never watched the DVD. First of all, I think it is something that means a lot to the participants, but not to us observers. I didn’t really care to know what their special song was, or how they looked while dating.
We had seen it at the reception. Much like your home movies, and travel related pictures and movies, very few people beside you want to see it, making it a true waste of money, at least in my opinion.
Our burning desire at the time of our courting was to travel the world and quit the rat race as soon as possible. This led us to review our options on how to save money. My family is a huge one, and it would definitely have been money that we couldn’t afford to spend to accommodate everyone. The logistics would have been a nightmare.
The ultimate decision on a simple ceremony at a wedding chapel was the end result. The stress was definitely eliminated. Nobody felt slighted because we only invited two people. His brother and then-girlfriend to be witnesses. Our total cost? a very manageable $110 :-). Looking back, l wouldn’t have changed a thing.
We also skipped a honeymoon. Instead, we both picked up more shifts at work, side hustled, and ate all our meals at home. Our friends cheekily called us cheap to our faces, but they also understood because they had been hearing of my desire to travel for so long.
It took us another seven years to reach our goal. We were frugal and watched our money carefully. We were definitely not hurting for anything and allowed for some luxury when needed (usually travel-related). Seven long years full of disappointment, loss, and rebuilding. It was all worth it in the end as we have been able to enjoy uncountable honeymoons all over the world since then.
The moral of the story is that it’s important to think of the big picture in life. Don’t be distracted by instant gratification. Figure out the most important things that you want to achieve in life and then work towards achieving them. Always keep your eye on the goal. With the political climate these days, and of course the sobering pandemic that has crippled the world, it’s important to realize that you can’t count on anyone but yourself.
No one knows which way the wind is blowing, it is more important than ever to buckle down and save, save save. Don’t try to keep up with anyone. If you can’t afford that vacation, don’t take it. If you can’t afford all those expensive Christmas gifts, don’t give them. Ignore the Black Friday ads that are there to separate you not just from your money, but to also increase your credit card debt.
Takeaways:
- Get your financial net worth picture. This will serve as a good starting point to identify your strengths and weaknesses.
- Pay cash for purchases. Cash is king. If you need to charge your purchases, you probably couldn’t afford it.
- Ignore the naysayers. People are always going to put your dreams down. Just put your blinders on, and keep on doing what’s best for you.
- Prepare for tougher times. I think it’s safe to say that the next four years are going to be trying for all. Despite what is being promised, I am positive that manufacturing jobs are not coming back to America. The cheaper labor in other countries is too enticing to the companies. The shareholders constantly demand more profit and dividend payouts.
- The world situation remains shaky with the fallout from the ongoing pandemic. This is a perfect time to start thinking of ways to make extra money. Millions have lost their jobs (some of them never coming back). Can you start a new business that will pay and make you richer, especially if you’re working from home?
- Spend your time wisely. It might seem like an easy thing to do, but it’s not. Most of us get distracted by shiny objects. I have the same problem. I would rather be playing words with friends than focussing on balancing our budget. Do you have something that’s distracting you? Get rid of it, and focus on what matters.
No gain without pain:
Your sacrifices will entail a strength that you might not even know you possess. There will be trying times, and of course, obstacles put in front of you. You will feel alone and have the urge to give up on your sacrifices plenty of times.
Motivate yourself by reading about successful entrepreneurs like the Oracle himself, Warren Buffett whois fond of saying “short term sacrifices lead to long term gains”.
What have you sacrificed or are you willing to sacrifice to ensure a better tomorrow for you and your loved ones?
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We went to the courthouse as well. My husband gave me two options 1. Big wedding 2. Big house!! He said we are not doing both so I went with the house. We delayed our honeymoon by a year and it was paid off when we went. Great tips
Fantastic to hear!We were also having a house built in Houston and taking on more debt did not make sense. People have to realize that the decisions they make today can affect their future happiness. I don’t regret the no biggie wedding. I’m sure you don’t either. Nothing like delayed gratification. Very proud of your decision :-).
Thank you for this, KemKem. A much needed reality check for many. Too many are spending money they don’t have to impress people they don’t even like. I sold my house a year ago and moved into a shipping container I had renovated as my getaway cottage. It’s small but I live alone and it has everything I need. I feel like I am always on vacation in my little cottage. I live simply and cut out a lot of the things that are nice to have but separate me from my money. I plant my own garden and grow most of my own food and raise chickens because the land is there. I’m always looking for ways to save a little more, because I realize that we are headed for some tough days and any money I waste now on unnecessaries I am likely to regret. We all need to wise up.
I love your comment Carlana. Especially the last sentence. We all need to wise up. This obsession with saving face has got to stop. My husband always says it costs people nothing to give you a like on Instagram or on Facebook. You’re the one that has to live with the consequences. I love the sacrifice you made. Your cottage sounds so cute and it brings you warmth and a lot of love from the sound of it which is what counts. Being able to live off the land is a wonderful added bonus. I also believe we are indeed headed for some tough times, unprecedented times. It will be painful for many, the sooner we wise up, the better.
I get that! I really have no one to impress. We don’t do fancy cars or fancy clothes and purses because we want our kids to be able to travel and see things, not just be seen being fancy right here at home! LOL
Fantastic! It’s also important to show the kids that so they don’t grow up thinking that is the norm. They need to know that hard work and living within ones means is the only way to go 🙂 .
Good post! This is just common sense. More people need to do this. Stop trying to keep up with the Joneses. The Joneses can’t even keep up with the Joneses! :/ Sacrifice is required when you have a vision.
Haha! I love that. The Joneses can’t even keep up with the Joneses! So true 🙂 . It’s common sense, but it’s nerve wrecking to see how many people still fall into the trap and if anyone thinks of another bailout that will make it easy to get out of debt, they are sadly mistaken. It will help the elite only. Time to wake up.
This was extremely insightful. We only paid $5k for our wedding and we paid in cash. We know friends who paid in excess of $25k and are divorced.
Ouch! Not only a waste of money for the divorced, but the day is also associated with bitterness and even regret. So much better to spend what you can afford to and make good memories and better use of your hard earned money. Good for you 🙂
We skipped out on the wedding, and had a wedding moon..just us two. I don’t regret it one bit! Sacrifice for your goals. Our motto.
I love your motto! 🙂 . We haven’t regretted our decision either. You need to stop listening to the fringe people who want to help spend money, the ads, the magazines making you feel left out and do what is best for you. Love the wedding moon :-).
I know wedding can be so expensive. I do want a big wedding and a honeymoon when that time comes but I see why you and you husband didnt. What ever works for you and you are not in debt.
There’s nothing wrong with desiring a big wedding as long as some common sense comes into place. Especially if you know what you want and can afford it. For instance, you could put some money aside starting now to fund the event. A little planning goes a long way 🙂
Preach Preacher! I have a co-worker that refuses to sacrifice to reach a goal. They’ll spend the rent money to go on vacation. smh. I learned to sacrifice a long time ago and the end result is so rewarding. Awesome article!
Oh..that’s just crazy. I’m not surprised though. I’ve seen some of my friends do the same thing. It’s almost like people have come to expect to get something for nothing. You’re right, the end result of sacrifice is often rewarding. Thanks Kirstin 🙂
I’m going to take this post as confirmation. I made a decision earlier today to ensure a better tomorrow. This post validated it.
Yes please do take it as validation 🙂 . Good luck, and l’m sure it’ll work out.
Did I read $110? Wow! I’m frugal, but your are a master at this. Congratulations!
Haha! Thanks. I can be pretty ruthless when it comes to sacrificing 🙂 . I had to learn how to be frugal. It was not always in my handbook. I think that’s why l don’t want people to make silly mistakes that may affect them forever.
You are speaking my language! I’ve been introducing my husband to Dave Ramsey and the 7 Baby Steps. We’re going to have to make some major changes in order to finally pay off our student loans.
I love the sound of that. Baby steps. It’s amazing how much one can accomplish with baby steps. It turns into a tidal wave. I remember it was extremely hard at first, but then when the momentum catches..it just grows immensely. Good luck. I’m sure you guys can kick the debt to the curb! 🙂