If you’re just starting out in your business, you quickly realize that sacrifices are inevitable. Running a side hustle is tough, especially when you also have to work to maintain your monthly income.
If you’re a newbie like me, it can be hard to say no to things that might seem enjoyable now but won’t matter in the next five years. Recently, someone told me that I shouldn’t chase financial independence too much because it will come naturally. I have to disagree. Achieving financial independence doesn’t happen by accident, and it certainly doesn’t happen without effort.
I’m not after money for the sake of money. After all, money is just a number, and banks can print more of it. What I’m really after is the freedom and lifestyle that financial independence can bring. I don’t think there’s anything wrong with aiming for success and security in life.
Of course, I understand the importance of relaxing and having fun along the way. Occasional fun is necessary, and I agree with that. But if “fun” forces you to spend beyond your means or causes unnecessary stress, it’s not worth it. All it does is make you worry about how you’re going to recover that money later.
I don’t believe in taking it slow and hoping the world will work miracles for me. The truth is, the world won’t hand you freedom or financial security, you have to hustle for it.
If you’re just starting out and don’t have the budget for a vacation or luxury splurges, it’s okay to say no for now. Understand that your current situation, juggling a side hustle and a regular job, will eventually pay off if you stay consistent.
I’ve learned that managing a small business requires sacrifices and investing in things that actually make you money. Here are some of the simple things I’ve sacrificed so far:
- I temporarily stopped going to movie theaters, pre-pandemic, and instead waited patiently for free HD releases online.
- I limited myself to eating ramen only once a month. It was hard, especially with cravings, but I substituted it with lomi, bachoy, or goto.
- I minimized out-of-town trips, pre-pandemic, and spent weekends experimenting with healthy meals at home.
- I stopped buying unnecessary personal items like expensive clothes, beauty products, bags, and footwear. Instead, I opted for affordable yet good-quality alternatives. Even my two-year-old wedge sandals are still going strong.
- Instead of buying books, I download free ebooks or PDFs to read on my phone. But if you prefer physical books, that’s perfectly fine. Sometimes we all need to disconnect from screens and enjoy a good book.
Meanwhile, here are some things I’ve invested in:
- My cellphone: This is my number one tool for my side hustle. It has great specs at a reasonable price. Not cheap, not too expensive, and it’s still going strong after two years.
- My laptop: Anyone with a side hustle needs a reliable machine. In today’s online-first world, having a functional computer is essential. Working from home has made me realize just how important this investment is.
- My time and effort: Time is gold, and effort pays off. That’s why I disagree with taking it easy when building my business. You won’t know if it will work unless you push for it. I dedicate most of my time to self-learning and skill development so I can offer more value to my clients.
Right now, I’m finding ways to enjoy my journey without spending too much. Knowing your priorities is crucial. We’re all different, so my methods may not work for everyone, but the principle is the same: identify what works for you, focus on it, and don’t be afraid to ask for help. You can run a business on your own, but it’s much easier to have one or more people assisting you.
Speaking of help, I offer Virtual Assistance services to support business owners so they can focus on growth. You can get in touch with me here.
Returning to the main point, when considering sacrifices and investments, ask yourself:
- What will I get in return?
- How will this impact my future, say, in the next five years?
- Can I commit to this fully?
Be wise enough to say no to things that won’t benefit you in the long run, and say yes to things that will.
To leave you inspired, here’s a quote I live by:
Push yourself because no one is going to do it for you.
