Shocking Quotes: The Astonishingly Tone-Deaf Comments from the Wealthy Elite
According to Investopedia, some of the things that can trigger lifestyle inflation are getting promoted at work and graduating from college. Generally, you can avoid this issue by placing more value on experiences rather than buying material things, as well as prioritizing your financial independence.
“There’s nothing wrong with upgrading your lifestyle as you earn more money; the trouble comes when you don’t increase your savings and investments at the same time. Focusing only on increasing your spending means you’re likely to still live paycheck to paycheck and struggle with creating a financial buffer to protect against future emergencies.”
I was with one of the owners of a company I worked for years ago and in a meeting for year-end bonuses, he stated, “Wouldn’t it be cool to get everyone a new car for bonus??”
Then our Finance Manager actually showed him what that would cost. His response?
“Well…I could do that if I wanted to, even if the business can’t.”
We didn’t get new cars…
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