Tag Archives: lifestyle

Lifestyle Inflation – What It Is and Can It Be Avoided?

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It is hard to understand how someone with a high income could be living paycheck to paycheck but it is more common in today’s society than ever before. While there is no denying that high levels of inflation can be a culprit, there is also a phenomenon known as lifestyle inflation which is making it even harder for people to save money. An example of lifestyle inflation could be when a person gets a work bonus or a new job with an increased salary, then this person feels more justified to buy luxury goods or spend more money than ever before. While it is good to treat yourself and spend your hard earned money, it is still really important to prioritize investing and saving as much money as you can because you not only need it for your future but you also might need it for an unexpected emergency.

In your youth, it is very easy to fall into this lifestyle inflation trap because maybe you want to own a fancy car or dress in designer clothing. If you can afford it right now, you might be thinking: Why not? Again, there is nothing wrong with treating yourself but this cannot be an ongoing habit or this is going to lead to a lack of savings and potential debt. The right mindset to have is asking yourself, how do I build my net worth? If you place your focus on building wealth over time, then it will become easier for you to resist overspending on things that you truly do not need. As you get older, it will probably become a more conscious decision to save for retirement or to find investment opportunities rather than overspending. 

The best way to avoid lifestyle inflation is to first shift your mindset as I mentioned previously. For me personally, my mind is more focused on seeing more money in my savings and investment accounts than in my closet because I am a practical person with an understanding that excessive material goods really is not a necessity nor is it really making my life that much better in the long run. Whereas in my youth, I cared very much about having new and stylish clothing including designer labels. Once you have made a mindset change, then the next step is to develop the right habits to support your beliefs. In this case, that would mean to allocate your money towards necessities only and to commit to your financial goals. It can take time to develop the right habits but as long as you start implementing them, then your habits eventually become much more automatic. 

Why Similar Lifestyles Matter in A Relationship

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Everyone’s lifestyle varies and it is unlikely to meet someone with the exact same lifestyle as you; however, finding someone with a pretty similar one is very important for long term relationship success. It is natural and okay to have differences including different hobbies but when two people live life in ways in which two people cannot easily relate to each other, it is tough to ask for either person to adapt to the other. It is also very easy for the relationship to deteriorate over time as people tend to get resentful or can simply just get tired of each other’s differences.

That is why it is of extreme importance to pay attention to a person’s overall lifestyle from the start of getting to know someone. Although lifestyle can be impacted by one’s career choice, location, and other factors–the way in which a person chooses to live their life is a personal choice that often won’t change. It is good to examine the major components of one’s lifestyle that can include:

– How does this person like to spend their free time?
– How does this person manage their money? Are they more of a spender or a saver?
– What is their idea of a vacation?
– What are their health habits? What does health/fitness mean to them?
– What are their life goals? Are they in alignment with yours?
– Where do they want to live?
– Does this person practice a religion and to what extent?
– How much time is enjoyed being spent alone and with their partner?
– What does intimacy mean to this person?

This is just a general list to go by but keep in mind that there are many other areas that can contribute to one’s lifestyle. Please note that I did not list anything that was trivial such as a person’s favorite pizza topping or sports team as I would categorize that as a personal preference and not so much associated with their lifestyle. Of course as I mentioned, nothing is going to be exact but instead, it is most important to focus on what’s SIMILAR. When two lifestyles are very similar, it allows for two people to continuously grow together while genuinely loving each other’s company even more as they are brought together by their shared interests. There is a reason why they say, “Birds of a feather, flock together” which very much applies here.

5 Ways to Improve the Quality of Your Life Starting Today

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Over the years, I have taken the time to really appreciate the quality of life which for me means having more time to myself for leisure activities, an active social life, and of course much needed alone time to feel fully recharged. I strongly believe in hard work but it is just as important to be able to enjoy life–whatever that means to you.

Take Care of Yourself by Adapting a Healthier Lifestyle – I always preach about developing healthy habits which can include eating higher quality foods and paying attention to portion control. It is okay to indulge but again, it is all about keeping everything within moderation. Besides a good diet, taking the time to exercise each day is also very important for increasing your longevity and overall well being.

Make Time for Vacations and Day Trips – People who work a lot often times do not take the time to actually plan a real vacation. I would suggest thinking about new places you want to explore and putting the money aside for it including the flight, accommodations, and entertainment money. Besides planning at least one big vacation, it is also good to plan long weekends and local day trips. Life experiences like travel are incredibly rewarding so be sure to make the time for it.

Stay Organized in All Areas of Your Life – Organization is such an important life skill but one that sometimes gets overlooked, especially when you are super busy. This can first start within your home and your surroundings by making a conscious effort to keep these areas neat and clutter free. If that means getting rid of items that are not practical, then take the time to do so. Aside from your living space, it is also a good habit to keep a planner or to do lists to keep your actual life organized or at least provide some structure. This will help you improve the quality of your life by allowing you to gain more control of how you spend your time each day.

Sleep More – Take Naps If Needed – When you work full time and have what it feels like ten million responsibilities each day, it is very easy to cut back on the amount of sleep you are getting each night. If this applies to you, I would suggest finding spare time in your day where you can take a power nap or by getting in the habit of going to bed earlier or sleeping in a little if you have a schedule that can allow for that.

Turn Cell Phone Notifications Off – It is really hard to imagine life without a cell phone nowadays. As much as it has improved the quality of our lives by allowing us to easily stay connected with others, have information at our finger tips, and apps for just about anything, there also comes a time it is healthy to turn the notifications off. If you are with other company, trying to be productive, working, or in a situation where you do not need to be attached to your phone, it is okay to put it aside and not check it for a few hours. You would be amazed how much quality time you can add back to your everyday life just by putting your cell phone down every so often.

This is just a short list of suggestions for improving the quality of your life that have really worked for me in recent years and are good things to apply if you do not already. All it takes is some added mindfulness and taking small steps to make these daily changes that will make an impact over time.