this post was submitted on 22 Dec 2024
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I read a book called The Richest Man in Babylon and it states "that which we consider to be our necessary expenditures will always rise to meet our income, unless we protest to the contrary". I've tried to remember that lesson my whole life. You must be very intentional about expenditures, scrutinizing each one, and scrutinize it in the context of the lifestyle you wish to maintain, not the one you're newly capable of sustaining.
And then what? You die with a lot of savings? What are you saving for?
Splurging won’t make you happy in the longterm. Saving and buying your own home might. That’s why you want to save money, to have options available.
That would be great if the prices of houses didn’t rise faster than it is possible to save for the majority of people.
That's true if you were just keeping savings in a non-interest bearing account. Stock market returns, however, have outpaced house prices.
ah but slightly nicer groceries would
But they make them more and more expensive every year. What’s the point of chasing a carrot if it’s attached to your head?