I 100% agree that "looking the part" drains many people's finances. I know some very wealthy people and they tend to actually look "poorer". They care less about all of the material things.
Buying liabilities instead of assets...that's my experience. Took a while to realize that I needed to do more with my money than just spend it on "stuff".
I like the idea of paying yourself (savings & investments) first and making sure you keep some of your money to enjoy life as well. Seems like a good balance.
That definitely makes it more challenging but not impossible. I would recommend speaking with a financial advisor who can help get you on the right track.
I wish I understood the idea of Lifestyle Inflation earlier. I wasted so much money in my younger years that could have made a huge difference to my current net worth 😕
Over the years I've seen two friends, both earning huge salaries, have to declare bankruptcy due to overspending trying to keep up with their colleagues at work.
Great video, makes sense!
Thanks for your support 👍🏻
I 100% agree that "looking the part" drains many people's finances. I know some very wealthy people and they tend to actually look "poorer". They care less about all of the material things.
That's usually been my experience too 👍🏻
Another entertaining and informative video. Thanks
Thanks for your support 👍🏻
I met a few wealthy people that were more concerned about appearances and were overspending to keep up with their rich friends.
I suspect it happens a lot
Its tough to save a lot of money when you live in an expensive city. Sadly thats the best place to be for work in my field.
Valuable information as always. Thank you!
Thanks, as always, for your support 👍🏻
Buying liabilities instead of assets...that's my experience. Took a while to realize that I needed to do more with my money than just spend it on "stuff".
I think that's one of the most important things to learn about money and building wealth. 👍🏻
I like the idea of paying yourself (savings & investments) first and making sure you keep some of your money to enjoy life as well. Seems like a good balance.
I agree. I think it makes for a good balance between saving and enjoyment 👍🏻
Thx for the info!
Thanks for your support 👍🏻
👍
Thanks for this info.
Thanks, as always, for your support 👍🏻
I live in the highest cost of living area. Makes it harder to save..
That definitely makes it more challenging but not impossible. I would recommend speaking with a financial advisor who can help get you on the right track.
I wish I understood the idea of Lifestyle Inflation earlier. I wasted so much money in my younger years that could have made a huge difference to my current net worth 😕
That's a huge lesson to learn! 👍🏻
It's hard to build wealth if you're just spending all your money
So true 👍🏻
The pressure to look the part is a big thing.
Yes. It's tough when everyone around you looks and acts a certain way
Over the years I've seen two friends, both earning huge salaries, have to declare bankruptcy due to overspending trying to keep up with their colleagues at work.
I think there's a lot of this going on behind the scenes for many earning seemingly great wages! 👍🏻
High income doesn't necessarily mean happiness... But it must help a little 😂
Perhaps a little 👍🏻
Looking good and going nowhere FAST!
👍🏻👍🏻👍🏻
It's hard to build wealth when you "dress to impress"!
That's so true 👍🏻
Just bc you make 100k or more doesn’t mean you gotta spend like you make 100k in the 80’s
So true! Sadly many still do 😕