Shit You Don't Learn in School 26. The 3X Rule and When You Should Splurge
Jun 6, 2021
Ethan Brooks, an analyst at Trends, shares his insights on travel spending and the allure of upgrading from budget hostels to more comfortable options. They explore the concept of lifestyle creep and the '3X rule' to decide when splurging makes sense. From personal travel tales to balancing comfort with costs, they highlight the importance of mindful spending that enhances personal happiness. Ultimately, the discussion revolves around prioritizing experiences over financial constraints, ensuring fulfillment during travel.
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Ethan's Hostel Experience
- Ethan Brooks, until 2019, usually stayed in hostels or slept in his car while traveling extensively between ages 18 and 29.
- A trip to Spain and France in 2019 changed his perspective on hostel stays and spending habits.
The Turning Point
- Ethan's 2019 Spain/France trip included hostel stays initially due to habit, but work challenges arose.
- He upgraded to a hotel, finding it more peaceful and prompting reflection on his career and spending.
The 3X Rule
- Ethan developed the "3X Rule": the sweet spot for travel spending is three times the cheapest option's cost.
- He found this provided significantly better experiences without excessive cost in several cities globally.