Prevent βLifestyle Creepβ from Eating Your Wealth – Barron’s
Prevent βLifestyle Creepβ from Eating Your Wealth – Barron’s
As college students, many of us become experts at living the frugal life. We cook dinner for friends using the one knife and two pots we bought from TJ Maxx or “borrowed” from Mom’s kitchen. We take the bus, tape broken items back together, and celebrate the luxury of our first apartment without roommates, even if it’s a 600-square-foot studio.
Then our income increases, and certain behaviors become outside our comfort zone. We get used to buying everything brand new and wonder how we ever survived without a $300 blender. We might have fond memories of staying in hostels while backpacking around Europe or Asia, or seeing a mind-blowing Broadway show on a $30 standing room ticket, but we wouldn’t do that now.