Skip to main content

Are you falling into a lifestyle trap?

You can also read this on BeingFinWise
__

 Almost everyone wants to have an amazing lifestyle - with best possible food in best possible places, awesome travel destinations, a swanky car, few trending gadgets, elite memberships and many other symbols which can proudly announce- "I have arrived".

 Yet a lot of us get so obsessed with chasing this lifestyle that before we realize, we are on a downward spiral and caught in the vortex of lifestyle trap. This becomes more pronounced when our income/ sources of earning fails to keep pace with lifestyle inflation led spending.

 And this is a sure shot sign of you falling into lifestyle trap. The best step to avoid chasing lifestyle. The next best option is to realize that you are falling into this trap.

 Here are five signs that you are falling into a lifestyle trap.
  • You are looking to upgrade your "I have arrived" possessions like iPhone, car, Fitbit etc. rather too  frequently. And often when you don't even need them or exiting one would more than suffice.
  • Your definition of affordability is characterized by easy access to loan. For instance you can "afford" to upgrade your car to Honda City because you are eligible for something like Rs. 999,999 car loan.
  • You have made more than half serious inquiry or even taken a personal loan for funding your day to day wants and desires, something you could have done without.
  • You are short of cash since few days before the salary day, thanks to the ongoing end of season fashion sale, eating out 5 days a week, attending expensive concerts etc. And alongside, you are also probably wondering how will you manage to pay your credit card bill in full.
  • Any rise in income is followed by a disproportionate increase in expenses because - you have "arrived"  in life.
While chasing a good lifestyle is not something that I should be sermonizing about, but if chasing this lifestyle has some serious long term financial implications, maybe you need to rethink.

 It's better to prevent falling into lifestyle trap rather than looking for solutions when it is late and may come at a cost.

Comments

Post a Comment

Shop @ Amazon

Popular posts from this blog

An area of darkness ?

The title of this post finds its origins in a novel with simlar name written by VS Naipaul. Set in India, some 40 years ago or so, this is a kind of travelogue of author's brief stay in India where he found it to be full of superstitions, ignorance and darkness! Many decades and many MNCs and malls later, few parts of India seemed to have chucked off that tag, but there are many places that haven't and continue to remain shrouded in ignorance. Move few hours away from a city, travel in a second class train compartment or a dilapidated state transport bus and you get to see the dark underbelly of India Shining. As one of the characters in the movie Rang De Basanti says "Yahan zinda rehne ki jung mein logo ki zindagiyan nikal jaati hai" . So true it seems! My day today was spent being kind of lost in similar thoughts. To start with, I when I boarded the ST bus, a woman was wailing. She may be in her 20s or something, but she was crying in some peculiar musical tone. At...
13 comments
Read more

The Detour

The 7 year old girl walked from school to her home. This was the first time she was walking alone on that route. On any other day, her mother would have gone to pick her up from school, but not that day. She was not aware that schools were declaring holiday an hour and a half earlier due to trouble in the town owing to some agitations and protests. Only few parents could be intimated about this. A friend’s mother accompanied her to the lane leading to her apartment, from where it was just a minute’s walk. But that day, for some unknown reason she decided to roam about a bit and take the longer route. It is not always that she gets to roam about, and no one would know about it. After all she wouldn’t tell her mamma about that. The road was almost deserted. It was usually the case around the noon time in this part of the country. She walked ahead leisurely, singing and dancing all along as if she owned the road. But this was short lived. In couple of minutes, the scene changed....
7 comments
Read more

Cycle

After a failed attempt at jogging, I roamed about aimlessly when an idea struck me to have a ride in a cycle, couple of which is lying in the “recreational area”. I was longing since long to ride a cycle sans motor. There was no particular reason for this feeling; it was that just I wanted to have a ride. The 2-3 km ride was a tiring experience, especially for one who is having this after a long time; but I was gleeing all along. As an infant, I loved going about in a tricycle. Then I became too big for it and got a cycle. After several attempts and many falls, I mastered the art. I used to flaunt it in front of my friends, who flaunted theirs. As I entered teens, the bicycle seemed smaller; so I got a bigger cycle. As years progressed, I learnt to ride a 2 wheeler. Now I started to find the bicycle too childish for my tastes. I tried to reason out why I should get a 2-wheeler to go to a particular place. Sometimes I succeeded to get it, and sometimes I didn’t and had to go around in...
5 comments
Read more

The Forest

The Toyota Qualis and the Chvrolet Tavera stopped after a long journey. It was almost 9 in the night and it was pitch-dark. Night times in a forest are always pitch-dark. Adding to that it was a good `thirteen days since the last full moon day. Adding to this, the cloudy weather made visibility close to zero. Later in the night the forest would be engulfed in a fog making it nearly impossible to see. The only noise audible was that of silence, few random insects and that of a train going at a distance. After a long journey they all were quite weary and all they wanted was some rest so that the next day morning they can head for tiger and rhino spotting among many other species of flora and fauna in the wildlife sanctuary. Right now it was time for some parathas, maggi and booze. All fifteen of them headed for the cottage which they had booked, sat near the fire place relishing food, chit chatting about college life, universe and everything. But chit chatting wasn’t what they came ...
10 comments
Read more

K-eediyot box

(Disclaimer - Please do not think that I don't know spellings ... my numerologist told to use the above spelling for eediyot and add a k before it, this will help generate more TRP and comments for the blog) Time 7 : 30 - 8 PM, 8 - 8 : 30 PM .... 10 : 30 - 11 PM Venue - Zee TV, Star Plus, Sony entertainment etc. etc. Figure this - A family drawing room belonging to an extremely rich business house occupied with a mixture of emotional and scheming characters - 1 saas, 2 bahus, 1 son (+1 who makes an entry unaware of what is happening), 2 random distant relatives, 3 random cousins, all mouthing dialogues that have earlier been said by actors ranging from Nirupa Roy to Rajesh Khanna, followed by a long silence, 13 camera angles for same scene (top view, side view, cross sectional view, lateral view, 45 degree elevation view) , flashbacks and memories that last few episodes, good people becoming evil, evil people actually being un-evil, rebirths, amnesia, a background score that often ...
11 comments
Read more