I think everyone would agree that one of the hardest parts of Investing is getting started.
For a lot of newbies certain sacrifices in time and money have to be made now in the hope of a financially free future.
Socialising, spending habits, lifestyle choices, and just about every part of your life could be cut back to maximise the effectiveness investing in the first few years.
What have you sacrificed to make it on the path of a better future?(newbies what are you prepared to sacrifice?)
And Looking back, was it worth it?
[wail]
>[bike2]
Live, Learn and GrowLifexperience
I’ve sacrificed most of my spare weekend time researching and trying to get into the game
I haven’t purchased an IP yet, but I know that with determination and patience I will get there and hopefully it will all be worth it.Regards,
Ozifor me,i sacrificed my time, i kept voluntering for war zones whilst i was still in the navy, made plenty of cash, nearly cost me my sanity though. [confused2]
these days i sacrifice my life style to save for future deposits, i also make time to learn more about money every day (or try to)
cheers
shaunLead, Follow or get out of the bloody way
Geeez Shaunwalker,
Prepared to go to war and lose sanity. …..Was it worth it looking back?Ozi,
Yeah, I think your determination will pay off.
Live, Learn and GrowLifexperience
Time – I htink the biggest sacrifice is time. Using it to research and look at towns/suburbs and IP’s.
The other thing we’ve sacrified is our veradna on our PPOR. Would love to have one, but each time we save for it we end up using it as a deposit on an IP.
Yes, I too have sacrificed a lot of time – and I haven’t even bought a property yet!!! Not only that, but I have sacrificed a lot of those consumer items that many of my friends have rushed out and bought. I’ve been a real tighta— when it comes to buying new clothes and deferred the purchase of a car indefinitely. My thinking is that, when I can afford an Armani suit, I’ll buy a new pair of jeans.
One day I want to have the money to buy a Ferrari Enzo, but the commonsense not to.
Age doesn’t negate effort – you can never be too young or too old.
Funny, I don’t see the time as a sacrifice. I’m learning while I’m at work by reading the forums and books whilst at lunch. In fact it gets me away from my desk for longer at lunch which is good for my sanity.
For me its all upside. Sure, I haven’t started losing my weekends to auctions and open houses. But when I do that my wife will come along as well so I won’t really be missing anything there either.
Make a hobby out of it and its no sacrifice. [biggrin]
Maybe I have sacrificed the odd shiny new consumer appliance or something. But I can happily live without them anyway. As I’ve said earlier, I’m living a fantastic lifestyle by my standards and managing to put a lot of money aside for investments at the same time.
Cheers,
Michael.My partner and I have not had an alcoholic drink in over a year because I just find to purchase a hang over these days is very expensive, possible $200 a weekend!
We vary rarely go out, I have not bought clothes in over a year and a half – besides a couple of work shirts that I desparately needd and I got them for a bargain $4.40 each at the op shop!By doing this we managed to save a deposit for and buy our PPOR (temporary until we upgrade then rent it out as one of our IP’s)and all this in one year from nothing![thumbsupanim]
I quit smoking cigarettes and my partner is in the process… he is a bit weaker willed than I am and is having a few problems, I also have problems with his mood swings!! Hehe[laughing]
It’s been hard but we did it!
Blondie[cowboy]
Cremin and I sacrificed our family, friends and general comfort zone to get our foot on the property ladder. Now that we’ve made the step, it’s no looking back baby!!!
Time really isn’t an issue for us right now. We sacrifice a lot in the way of socialising. We limit ourselves to say, one big night a month, and even then we only really drink the home stilled grog hubby makes as his hobby. Saves us a crap load of money a year.
It’s been all worth it as we have two properties now, within six months of each other and we are willing to sacrifice more now so we can enjoy our children when they come along…
Steph.Success is 1% inspiration and 99% perspiration.
I just have to add that i now have in my possession every stainless steel appliance know to mankind ready to be put into my NEW KITCHEN that i have waited 15 years for. It didn’t happen over night…but it did happen.
I put off losing my virginity for a few years but made up for it later (not, just kidding)
I was a sparky so I worked week ends and some times for very little. One day my cousin said to me “how much did you make last Sunday” i said $60.00, he laughted. I asked him “how much he spent last Sunday”, He said they had a fantastic time and spent $220.00. So i then said, “that means that i really made $280.00 then … 20 years later the dumb s..t still hasn’t worked it out (loser)
Think and grow rich!!![cap]
Phil,
Nice story! [biggrin]
I thought you were going to say that he had spent $20K as a deposit on an IP and that you were the mug. i.e. You’re slaving away for 60 bucks a day and your mate is making his money work for him (not the other way around).
Some people just never get it though… (lucky for us [biggrin]).
Cheers,
Michael.mmmmm…really depends on how you value what you do with your life….if you really believe that he who dies with the most toys or IPs is a “winner” then I guess your right.
I haven’t purchased an IP yet, but I know that with determination and patience I will get there and hopefully it will all be worth it.
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