Learning to be happy with less money creates a gap between what you have and what you want—similar to the gap you get from growing your paycheck, but easier and more in your control. Having lower expenses means your savings go farther than they would if you spent more.
Big investment returns and fat paychecks are amazing when they can be achieved, and some can achieve them. But the fact that there’s so much effort put into and so little put into the other is an opportunity for most people.
Past a certain level of income, what you need is just what sits below your ego.
19
24 reads
CURATED FROM
IDEAS CURATED BY
Understanding Money
“
Similar ideasundefined
Building wealth has little to do with your income or investment returns and more to do with your savings rate. The value of wealth is relative to what you need. A high savings rate means having lower expenses than you otherwise could, and having lower expenses means your savings ...
Lifestyle inflation is an insidious killer of your financial wellbeing and eventual financial independence.
What it is: allowing your expenses to grow along with increases in your income.
How preventing it helps:
Income vs. Expenses: Understand how to balance what you earn and what you spend
Needs vs. Wants: Differentiate between essential expenses and discretionary spending
Savings: Allocate a portion of your income to savings and emergen...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates