3 ms·
i generally agree. i think theres some penny-wise pound-foolish thinking going on among people who are critical or eating out or buying lattes. it may sound stu
by the_cat_kittles 9y ago
i generally agree. i think theres some penny-wise pound-foolish thinking going on among people who are critical or eating out or buying lattes. it may sound stupidly tautological, but i think the way to get rich is focus almost entirely on boosting earnings, since that has much less of an upper bound than spending does a lower bound. or course theres more than one way to do it, and i think it would certainly be more satisfying, once accomplished, to accumulate wealth by careful, daily effort rather than managing to find some firehose of money. but it seems like most of the time it tends towards the latter.
- afthonos 9y agoAre you sure that's not the availability heuristic talking? People who accumulate wealth gradually over a lifetime of not getting lattes don't make for flashy stories, and by definition aren't flashy themselves. In addition they tend to be older, because that takes time, meaning that in any crowd that skews younger, the wealthy people will likely have taken the maximized earnings path.
- the_cat_kittles 9y agoim basing it on everyone who i know who is rich or poor? its almost always what they do for a living, not how frugal they are. but i do agree that you can be smart with a modest income and end up with alot of money!
- Armisael16 9y agoYou don't know about the people who are wealthy through frugality since they aren't flashy.
- deleted 9y ago[deleted]
- FLUX-YOU 9y agoI think millennials simply earn less. That has cut them out of balancing a mortgage and child care while having a stable job. It's pretty easy to work on cutting out lattes and eating out while increasing your earning potential though. I don't think daily frugality comes at the cost of improving your skills or position.