2897: Some Lifestyle Creep is Inevitable. It May Even Be Desirable by U-Ming Lee on Intentional Spending
Mindful consumption
Optimal Finance Daily - Financial Independence and Money Advice · Optimal Living Daily | Diania Merriam
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Show Notes
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Episode 2897:
U-Ming Lee challenges the conventional wisdom of avoiding lifestyle creep, arguing that some level of it is both natural and beneficial. He emphasizes that living too austerely can be detrimental to mental well-being and suggests a balanced approach of mindful consumption, where purchases are made thoughtfully based on personal value rather than societal pressures or extreme frugality.
Read along with the original article(s) here: https://themakingofamillionaire.com/some-lifestyle-creep-is-inevitable-it-may-even-be-desirable-dd3ff08d66c4
Quotes to ponder:
"Forced austerity has a corrosive impact on your mental well-being."
"Mindful consumption strikes a happy balance between rigidly self-enforced austerity and excessive consumption."
"Rising living conditions signal that we are improving our lot in life."
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