May 18, 2020

When is Enough, Enough? Launch Personal Finance - Issue #11

Revue

Launch Personal Finance

May 18 · Issue #11 · View online

Personal Finance & Financial Independence 3(ish) Articles, Curated Daily

Welcome back from another weekend,

Previous issues of this newsletter have addressed the subject of lifestyle inflation. As income increases, spending tends to increase along side. A double-edged sword for those seeking financial independence. High spending reduces available savings and also increases the amount of income required to be replaced if one chooses to change careers or retire.

Today’s issue highlights two views of how to fight the lifestyle inflation trap and to be content with what we already have.

Jewels from One Frugal Girl spent years fighting for her career, increasing her salary and always looking for more, but eventually hit a wall:

“But here’s the problem with that mindset. Nothing in life is free. Everything comes with a cost and I was paying for those larger paychecks with my time and energy.”

How did she balance the other aspects of her life with the fight for more?

Be Content With What You Have: Redefine Enough - One Frugal Girl

www.onefrugalgirl.com – Share

Thanks to the hedonic treadmill enough never feels like enough. How can we learn to be content with what we have instead of constantly yearning for more.

As someone who moved around a lot growing up and in early adulthood, it’s alarming how quickly you can accumulate stuff. I’m not sure how people who have only lived in one or two houses in their life aren’t drowning it stuff (although I guess that’s what attics and garages are for). Minimalism represents a fight against stuff and requires an understanding of when you have enough. Carl from Money Mow provides an introduction to minimalism and describes how he started down its path:

Minimalist Living: A Guide To Get Started

www.moneymow.com – Share

Minimalist living is about having fewer possessions that give you freedom from worry, guilt, and depression.

On a different note, Katie from Along the Camel Ride confronts the unspoken reality of ageism in the workforce:

“As older adults are forced out of the work place before they are ready to make way for younger, cheaper, less experienced labor, we run the risk of placing these people – these assets – in a dire position.”

Ageism also demonstrates the need to pursue Financial Independence, we rarely get to choose the terms on which we go out.

The -ism We Don’t Talk About, But Should – Along the Camel Ride

alongthecamelride.com – Share

Thanks for reading.

As always, please share with anyone else who may be interested.

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