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

Gunaho ka Devta

During last few days, I had a privilege of reading one of the most accomplished works in Hindi literature - "Gunaho ka Devta" . This was the first time I read a Hindi novel after being highly recommended by 2-3 different people. I was kind of compelled to read it after initial 15-20 pages which were largely in an unfamiliar territory of Hindi literature! It is a novel set probably more than 50 years ago, and is a philosophical cum love story. It is one of those books where I can't be sure about how I feel. It is an excellently written book ( ... or maybe it was the first time I was reading a Hindi book ... but probably this is not the explanation!) , with the entire spectrum of emotions thrown in generous doses. The scenes are recreated almost poetically, emotions mentioned perfectly. But at times I am tempted to question basic assumptions of it all. At times I am tempted to say that he is preaching many things which I don't believe in, which I find improper, but the...
4 comments
Read more

Om (Ctrl C-Ctrl V) Om

This is a case study in how to make a presentation or a project report in a B school. This is a study of how to copy-paste from various sources (at the same time acknowledging it) and presenting a complete package with some excellent glossy packaging! For example, the movie - Om Shanti Om had the basic template from the movie Karz. The main attraction was inspired from John Jhonny Janardan’s title track. There were generous doses of movies like Madhumati and Karan Arjun. Some traces of Maine Pyaar Kiya, some Rajnikanth movies, some Jeetendra movies, many 70s ki movies, many actors ka style and lives etc. etc. were present. Thrown in was some amount of nostalgia in order to emotionally connect with the audience. Some quotes were from various sources (The one mentioned 3-4 times was from “The Alchemist” –“ When you want something, the whole Universe conspires to help you realize your desire”!) And then all the ingredients need to be mixed in right proportion so as not to have an ...
4 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

The city

The green fields disappeared, The landscape changed somewhere, And that famed skyline appeared Suddenly out of nowhere. The squalor began to grow, I could see people all around, The din slowly increased, and Tranquility was nowhere to be found The crowds then swelled, And, all seemed to be in hurry, But all I could see on their face, Was resignation and worries. The city arrived, said the signboard But what it said not Was, welcome to the jungle, Of lifeless concrete and rot.
1 comment
Read more

Fan-o-phobia

Has there been some thing that you are worried about lately, something that might not seem too important that has been troubling you? ... Or that the very thought of it makes you shiver, tremble with fear or puts in the fear of god within you? Well ... I am facing one such thing of late. Somehow I have developed a fear of the fans, especially in cases where fans are a relatively lesser height, usually which I can touch easily with my palms or even elbows ... and even the ones that I can barely even touch by my fingers. This has not been without a reaon though. Recently I went to a relatives place where there was this combination of a fan being at lesser height and me being quite tall. After taking a bath (yeah ... I do take a bath ... in summers at least!) I switched on the fan, and raised my hands to wear a T-shirt. And suddenly I found something hitting my left thumb, hitting it really hard. Before the signal was sent to my brain so that I could realize what was happening, I put my h...
5 comments
Read more