Yes, when lifestyle creep is misdirected, it can truly be a bad thing. So bad it can destroy you. But I propose a contrarian view. Lifestyle creep can be good. In fact, it could even help you live a richer life. There is one caveat. You need to know how to rebalance it. Not unlike rebalancing your investment portfolio.
Out of the most feared and dreaded D’s in life, there’s probably no subject more shunned upon by money bloggers than the topic of divorce. It’s not a particularly difficult topic to write about, and yet many avoid the subject altogether. This is surprising because divorce is no longer a taboo considering its prevalence in modern society.
Just about everybody wants to become financially independent – so why do so few people get there? One of the secrets to attaining financial independence is that it doesn’t usually “just happen”.
Things like coffee, not $3 anymore, but 15 minutes of your life. Car loan? Not $20,000, but 3-5 years of your life instead (in monthly payments of course). Fyre festival concert tickets? 20 YEARS! (only for the ultra rich to be conned obviously).
Over the last few months, a number of people have asked me about my experiences during prior recessions. Most often the questions focus on the Great Recession of 2008-2009. That being said I have been an adult financially for 2 recessions. Both have brought unique experiences which perhaps shed some light on my investment philosophy.