Lifestyle inflation is the usual word heard by most people. What does it mean to you?
I used to have the impression of increasing the cost of life expenditure. Now, I no longer have such impression. Lifestyle inflation does not necessarily mean that one need to spend more money to do more things. Even the Government believes such term. More money, they get better quality people. More money, they get better services. This has been ingrained in most people’s minds to the great extent that people do not think much about such idea.
One needs to earn more money so that he/she can live a better life. It is a simple equation of cause and effect. What does FI related to such idea?
As per my perspective, FI is independent from how much money one has. It is about maintaining a certain lifestyle and not be worried about money. I take into consideration that there is something that require money, like medical expense etc. When such basic expenses are settled, what happen after FI? Does one’s lifestyle keep increasing? I am of view that this is not necessary. One can still reduce the expenses on a holistic basis. There are options in making such expense reduction possible. It is so easy for one to keep looking at one direction since everyone is looking at the same direction with the view that such direction is the right way. I have heard people mentioning that one does not need much money to be happy. There are many free things to do and a lot of free items/activities around.
Lifestyle inflation is in fact good. It is fun and challenging and also free if one looks further through deep thoughts. Think out of the box and ideas which may look out of sort. Such ideas can be the potential mind creator and create a sensational impact when adopted by one. It is likely to be less travelled path and I believe that this is the way of life and interest will be aroused through taking the less-travelled path.
One does not really think much about the paths. It is very likely that many other people also don’t do so. Many people just follow whatever path everyone walks. I am of view that this is flawed. Money is not the answer. Money is the tool which makes the journey more easily. The relationship between money, lifestyle, happiness and quality is flawed. I am of view that the earlier one realise it, the less tie down by money he/she will be.