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Episode 3156:
Lisa Harrison shares how she and her husband sidestepped lifestyle inflation to build wealth and achieve financial freedom, without sacrificing joy or connection. Through mindful home buying, curbing consumer habits, and consistently increasing their savings rate, they created a life of intentionality and long-term fulfillment.
Read along with the original article(s) here: https://madmoneymonster.com/2021/03/22/5-ways-we-avoided-lifestyle-inflation-to-reach-financial-freedom/
Quotes to ponder:
"We didn’t buy more house than we needed, although I really wanted to, and we bought the crappiest house in a nice neighborhood."
"We will go without a want before we pay for anything with a credit card that can’t be immediately paid off at the end of the month."
"Investing extra money gives us a bigger rush than spending it."
Episode references:
401(k) and 403(b) plan basics - Investopedia: https://www.investopedia.com/terms/1/401kplan.asp
The Minimalists: https://www.theminimalists.com
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Optimal Finance Daily - Financial Independence and Money Advice