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The cost of materialism
Your Income Frequently Misligns With Your Desires
Your average person desires to live a lifestyle that misaligns with their income. Most are unaware they have the power to change this dynamic, but they also forget to question their desires.
Who told you that your measure of importance comes from what you wear, can buy, and how you live?
Our desires for new and shiny things frequently lead us into financial traps such as debt, low net worth, and few investments.
Who are you trying to impress, and why? What will be the outcome after you impress them? Is it worth it?
The more thoughtfully we utilize our resources, the more likely we will position ourselves to build wealth.
Building Wealth Is Difficult When You Chase Things
It’s difficult for you to build wealth if you’re incessantly chasing things. The only way to be productively materialistic and wealthy is never to spend more than you earn and consistently invest.
But it’s not uncommon for a person with a high income to spend more resources than they earn, which is why we see “rich” people deal with foreclosures, asset seizures, and bankruptcy.
The addiction to living fabulous only leads to trouble and a dead end.
What If You Could Go Back?
Most of us have forgotten everything we’ve wasted our hard-earned dollars on, but do you ever think about how many resources you’ve spent on unnecessary things?
For some, it’s thousands, hundreds of thousands, or millions.
The opportunity cost is even higher because every dollar you spend is another dollar not invested.
Anyone who has built wealth knows that investing is the primary way to place yourself in a better financial position.
Fewer unintentional purchases can increase your opportunity for more intentional investments.
Our Happiness Doesn’t Increase With Income
If you ever received a raise, you know that the happy feelings that are present initially fade with time – relatively quickly.
Money will never make a person happy, but it can create more convenience, freedom, and opportunities to explore what joy looks like for you.
I say joy because that is a state of being, versus happiness is a fleeting feeling.
Notice What Buying Less Does For You
As my income has increased, I’ve started consuming less.
Year after year, I learned that more things wouldn’t yield more happiness.
Spending money won’t produce more happiness.
Trying to impress people with what I could buy won’t bring me happiness.
Buying less puts you in control of your resources; it makes you a more conscious consumer. But more importantly, it creates the opportunity to build wealth and be more generous with others.
The Incessant Humming of Anxiety
Some people wake up daily with constant underlying anxiety due to their mortgage/rent payments, car notes, credit card bills, and limited incomes; this doesn’t have to be you.
You can avoid financial anxiety by living intentionally, investing more, and chasing fewer purchases.
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.