Chartered Accountant helping high-earning professionals master their money through intentional spending, investing and finding meaningul work. I’m on Substack👇
You may have heard the advice to avoid lifestyle creep at all costs. But if you do, you will
- Never enjoy the quality of life you worked for.
- Lose motivation in acquiring more income (you never allow yourself to enjoy it).
- Never know when you can start to enjoy your money.
Define your freedom number based on the lifestyle you want, but recognise that satisfaction and gratitude come with effort and intentionality rather than a specific number.
The human condition is to always want more (and that’s not a bad thing).
I often set myself the goal of spending more.
Here are some categories:
- Charity
- Family and friends
- Quality food
- Self development
- Things I cherish
- Quality shoes
- Convenience
The challenge then becomes earning more or re-allocation.
@Gab_Maillet I love this. I do the same. My donations are automated transfers at the start of the month, so I have to make other choices if I need to but my donations stay the same. It’s a good priority to have.
3 mistakes I made on my FIRE journey.
1. Was overly frugal and miserable as a result.
2. Focused on running from a bad job rather than towards a better life.
3. Focused on cost-cutting instead of income acquisition.
Run your numbers and adjust your strategy.