This is one of the few articles that violates Betteridge's Law of Headlines[1], in that the answer is actually a qualified yes. This is a topic that is often t

This is one of the few articles that violates Betteridge's Law of Headlines[1], in that the answer is actually a qualified yes. This is a topic that is often touted by the FIRE movement, but one I feel could use more mainstream understanding: very small decisions (ones that get washed out quickly by hedonic adaptation[2]), summed over a lifetime, can be the difference between comfortable financial independence and a cash-strapped retirement. The rule of thumb that I've found helpful is to remember every $5 daily decision I make not to spend, if I conceptualize it as being made for my future self in similar situations on future days, adds up to $20,000 in a decade. The mental exercise ends up being almost Kantian[3], but in a population of one: "if I buy this latte, I am espousing the general principle that when I am bored and near a Starbucks I buy a latte. That habit costs $10k per decade. Is that worth it to me?" Of course, there is a place for treating oneself and differences in people's saving habits are not the sole determinant of wealth outcomes because of a variety of other structural factors. But I've found that treating habitual decisions this way has been a great boost in my mindfulness and pursuit of financial independence. [1]https://en.m.wikipedia.org/wiki/Betteridge%27s_law_of_headlines https://en.m.wikipedia.org/wiki/Betteridge%27s_law_of_headli... [2]https://en.m.wikipedia.org/wiki/Hedonic_treadmill https://en.m.wikipedia.org/wiki/Hedonic_treadmill [3]https://en.m.wikipedia.org/wiki/Categorical_imperative https://en.m.wikipedia.org/wiki/Categorical_imperative