Lifestyle spending is the primary barrier to long-term financial freedom.
Television, print and other advertising media is specifically designed to create discontentment within us. The ads suggest that what we have isn’t enough but that we are in need of “more” or “bigger” or “newer” than whatever we currently think we need or have. These messages relentlessly bombard our senses and compete for our constant attention. Unfortunately when we act on the feelings these kinds of messages create within us there is a cost. The short-term joy that comes from the spending is not worth the cost of our future financial freedom.
The principle is simply: spend less than you make and allocate the difference over the other three uses of money. Then, just like the shampoo bottle directions, rinse and repeat! This simple strategy will create the financial margin in your life needed to accomplish your long-term hopes and dreams while enjoying everything you have received along the way.