It takes a lot of hard work to become wealthy.
If becoming wealthy was easy then everyone would be wealthy. Obviously that's not the case. It takes a lot of time. It takes a lot of money. It takes a lot of financial discipline.
There's a reason why businesses like WPP Aunz Ltd (ASX: WPP) and oOh!Media Ltd (ASX: OML) exist. Advertising is a big industry and, as a whole, it works. After years of seeing the same medicine company or the same comparison site, it might just be enough to get you to choose that business over their competitors.
Becoming wealthy means being able to detach yourself from that advertising and only buy the things you want to buy rather than what you think you should buy.
Becoming wealthy means being able to ignore those short-term desires to show off to your friends. It also might mean resisting the temptation to use Afterpay Touch Group Ltd (ASX: APT) or Zip Co Ltd (ASX: Z1P) to buy it. At least save the cash, earn interest, and buy it yourself.
Every time you buy something non-essential it means taking a step back from becoming wealthy and financially independent. Is that item or service you're about to buy really worth an hour (or more) of your working time?
Becoming wealthy is not about denying yourself at every opportunity. But it is about weighing up the short-term compared to the long-term. Is that $50 worth taking a step back on your financial wealth journey?
Foolish takeaway
A net worth of $1 million does not suddenly appear out of thin air. It means not spending one million $1s.
Financial independence can give your life a lot more financial security. I much prefer the idea of building up my wealth as fast as possible and living off the investment income.
