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Old 08-21-2018, 09:50 PM
 
Location: Phoenix-Valley of the Sun
2,461 posts, read 1,200,617 times
Reputation: 3046

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Quote:
Originally Posted by hikernut View Post
Seems like you should be the one writing the lesson plan! I tend to think people are mostly just "programmed" the way they are... it's in our DNA.
And I'm kinda young. I want to look forward to a well off financial future.
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Old 08-21-2018, 11:35 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,110 posts, read 3,400,520 times
Reputation: 5633
I can't help you on this. I'm skipping the creep and going into a full sprint.
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Old 08-21-2018, 11:50 PM
 
24,711 posts, read 26,777,106 times
Reputation: 22704
Quote:
Originally Posted by 49erfan916 View Post
Meaning that the more money a person makes, the more money they will spend on useless stuff.

https://www.investopedia.com/terms/l...tyle-creep.asp


I have never made so much money at a job as i do right now. And i never had as many assets as i do now. But my expenses have decreased drastically. I dont desire the big house on the hill or that porshe. But i want to set up my future by sacrificing today's pleasures.
It basically comes down to having an internal value system and goals. It also comes down to paying attention to what really brings you satisfaction and what doesn't. People who do those things usually realize when enough is enough for them. And typically they find that a fairly modest lifestyle is enough to live a happy and fulfilled life.

Another key here is that if you're really following an internal/intrinsic value system instead of an external one, living a modest lifestyle doesn't feel like a sacrifice.

This article talks about how having a deep motivation is what drive people to create wealth and financial security:

https://financialmentor.com/true-wea...andments/13166
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Old 08-22-2018, 01:40 AM
 
247 posts, read 100,240 times
Reputation: 540
Sit down and truly deconstruct all the mental schemata that have been shoved down your throat forever.
Self reflection is crucial to avoid the lifestyle creep.
Think hard about how many of the things that society convinces you that you "need," you really do not.
Nobody needs a phone that costs a thousand dollars and 120 bucks a month.
Nobody.
However, marketing mavens and societal constructs that define "success" and "the best" will always convince people that, yes, you cannot live a decent life without the latest iPhone.
Nobody needs a new car every 3 years.
Nobody needs to eat out every night, or buy lunch every day, or have brunch every Sunday at the fancy restaurant down the street.
Nobody needs the biggest home, the fanciest clothes, the stylish haircut, or the pool.
They are all wants that we utterly believe are needs, especially because we adhere to the axiom of "I work super hard, therefore I will buy whatever I want. It's my right and I deserve it. What's the point of working hard if you don't spend your hard-earned money on nice things?"

Unpack the definitions of "nice things," "the best" and "success" as well as "need" and you will find yourself on your way to a life in which you realize that being frugal and smart about your money is no sacrifice at all.
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Old 08-22-2018, 01:48 AM
 
Location: Central New Jersey
1,526 posts, read 539,993 times
Reputation: 2614
None of us are guaranteed a tomorrow. So have fun and live life but at the same times living within your means.
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Old 08-22-2018, 06:25 AM
 
1,001 posts, read 289,603 times
Reputation: 1968
Quote:
Originally Posted by elnina View Post
No. You live your life and spend your money the way you want. It doesn't necessary means that you live a frugal life, though...
Frugality is about getting the most value out of a dollar, and getting the best deals you can for what you buy. It's not about not wanting new things. You can enjoy getting new toys and still be frugal.

The first question is "why should we avoid lifestyle creep?"
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Old 08-22-2018, 06:27 AM
 
424 posts, read 176,153 times
Reputation: 645
Save half of every increase in pay or bonus.
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Old 08-22-2018, 06:33 AM
Status: "I cannot wait for the heat to break..." (set 3 days ago)
 
Location: Where the sun likes to shine!!
20,368 posts, read 25,483,948 times
Reputation: 87958
Quote:
Originally Posted by 49erfan916 View Post
Meaning that the more money a person makes, the more money they will spend on useless stuff.

https://www.investopedia.com/terms/l...tyle-creep.asp


I have never made so much money at a job as i do right now. And i never had as many assets as i do now. But my expenses have decreased drastically. I dont desire the big house on the hill or that porshe. But i want to set up my future by sacrificing today's pleasures.


It all depends on your wants. I have very few wants and don't care much about "things" like eating out, fashion, big houses, fancy cars, electronics, shoes, art, or wines. So while my income has changed what I buy hasn't. I actually buy less than I did when I was in my 20's when everything "seemed" so great until I realized the stuff didn't make me happy, was useless and put me in debt.

My husband likes more of the toys than I do but we never spend more than we can afford. On that list we have owned a boat, actually 2. Found out that the best ones are the smaller ones. They get more use


Don't sacrifice your future on "stuff". If you really want something save for it. There is nothing wrong with rewarding yourself if you can afford it. If you can't afford it then find a different type of reward
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Old 08-22-2018, 06:55 AM
 
Location: Phoenix-Valley of the Sun
2,461 posts, read 1,200,617 times
Reputation: 3046
Quote:
Originally Posted by Oramasfella View Post
Sit down and truly deconstruct all the mental schemata that have been shoved down your throat forever.
Self reflection is crucial to avoid the lifestyle creep.
Think hard about how many of the things that society convinces you that you "need," you really do not.
Nobody needs a phone that costs a thousand dollars and 120 bucks a month.
Nobody.
However, marketing mavens and societal constructs that define "success" and "the best" will always convince people that, yes, you cannot live a decent life without the latest iPhone.
Nobody needs a new car every 3 years.
Nobody needs to eat out every night, or buy lunch every day, or have brunch every Sunday at the fancy restaurant down the street.
Nobody needs the biggest home, the fanciest clothes, the stylish haircut, or the pool.
They are all wants that we utterly believe are needs, especially because we adhere to the axiom of "I work super hard, therefore I will buy whatever I want. It's my right and I deserve it. What's the point of working hard if you don't spend your hard-earned money on nice things?"

Unpack the definitions of "nice things," "the best" and "success" as well as "need" and you will find yourself on your way to a life in which you realize that being frugal and smart about your money is no sacrifice at all.
I knew a few women who wouldn't date a guy if he had a flip phone. I thought it was totally ridiculous.



My big ass house in California didn't bring me joy but my tiny apartment in arizona brings me more joy. The stuff doesn't bring me joy, but experiences with people does.
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Old 08-22-2018, 07:15 AM
 
247 posts, read 100,240 times
Reputation: 540
Quote:
Originally Posted by 49erfan916 View Post
I knew a few women who wouldn't date a guy if he had a flip phone. I thought it was totally ridiculous.
Absolutely absurd.
Especially when you think about how those women are sheep. I am sure they were the same people who would not be caught dead with a big ass 5.5 inch-screen iPhone when society told us that the cool, trendy thing to have was a tiny, convenient, inconspicuous flip phone. Now the tide has turned, and the bigger the screen, the "better," so people follow the trends like the sheep they are.



Quote:
Originally Posted by 49erfan916 View Post
My big ass house in California didn't bring me joy but my tiny apartment in arizona brings me more joy. The stuff doesn't bring me joy, but experiences with people does.
^^^^SO much awesome truth in that post!
I also think about how much inconveniences/expenses come along with bigger homes, bigger cars, more clothes, etc. I'd rather focus on people than on things I own (which, like the old axiom says, [the things you own truly] end up owning you).
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