Most people do not feel like they are living an excessive lifestyle. In fact, if you ask, people have a much greater awareness of areas where they contentiously hold back or make tough financial choices. It is also true that most people spend a lot more money than they wish and rarely meet their savings or investing goals. One of the problems we face in the western world, is that we have unconsciously designed our lives to be expensive. We fill our lives with lifestyle habits that elevate our monthly fixed costs. From mortgages, debt payments, insurance, utilities, basic food, childcare, communications, to transportation- we often set our expense expectations without ever spending a dollar of true discretionary money. For many families, our basic obligations are enough to consume the vast majority of our disposable income. When all of our money is already expensed, we rarely have any margin. And we certainly feel richer when we have plenty of that margin in our lives.
We don’t wonder out of an expensive lifestyle. But we can certainly wonder into one. To redesign our lifestyle, it takes a bit of reflection, introspection, and evaluation to motivate change. In addition, most Americans live in a perpetual time deficit so we resort to spending more to try and make up the lost time. We hire out anything we can and tend to spend excessively on the people we love- often to make up for the quality time we wish we could spend with them. Overall, we create a lifestyle that becomes very expensive to maintain. However, we do have a choice. We get to choose how we want to design our life. It starts with a few observations and small steps. Continue reading Your Life is Designed to Be Expensive