The journey to growing your wealth comes with a lot of harsh truths. People know they need to be smart with their money, but the ones who actually succeed are willing to sacrifice and let go of what they want in order to build financial freedom.
CEO Loral Langemeier (@lorallangemeier) posted a TikTok highlighting the three things you should not do until you are rich. Avoiding these can help you build your wealth.
The first no-no Langemeier lists is buying a lifestyle, meaning material things. You need to buy assets first and they will generate the wealth you need to buy a lifestyle. The second no-no is going into "big" debt. This will hurt your credit, and you need good credit to get ahead in life. Last but not least, don't lend money to family and friends who swear they will pay you back. More likely than not, you'll never see that money again.
This is great advice to follow if you have the ability to. It's definitely easier said than done, but not impossible.
The comment section under this video presented some mixed responses. Some folks agree adamantly with Langemeier while others remained skeptical. "Wiser words have never been spoken," @kulvinder357 said. "Yes ma'am, I'm wealthy and I've kept those rules which I learned from my GrandPapá," @alchemysoul said. "And then you die with the little you made," @eucilne39 said. "Life doesn't wait until you get reach. Live while you're still breathing."
While Langemeier's plan may not be foolproof, it's a great place to start figuring out what works best for you.