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It's protective against downside, but can constrain your upside. I was raised a saver, and it's been very hard to hire out simple tasks & let go of trifles, whi
by ip26 5y ago
It's protective against downside, but can constrain your upside. I was raised a saver, and it's been very hard to hire out simple tasks & let go of trifles, which in turn constrains how much time & energy you have to focus on increasing your earnings. As a low earner, it's better to focus on efficiency & DIY, but as a high earner it's irrational to spend an hour getting bent out of shape over a few dollars.
- MarkusWandel 5y agoAbsolutely agree, which is why, for example, I don't do my own car repairs any more. But you can still have a less fancy car and keep it longer. And I don't want to focus on increasing my earnings. I'd much rather be fixing something around the house.
- vl 5y agoThe problem with car and house repairs is that even if you have money to pay for it, managing them still takes tremendous amount of time. In fact so, that for trivial repairs it's easier to order supplies and tools and do them myself. So one way or another car and house consume time. Next level is to hire people to manage it for you, but this is completely different level of income.