Few of us are wealthy enough to spend freely and pay the bills later without worry. Most of us make choices every day about spending trade-offs we feel.
We’re not talking about ground beef, milk, and butter.
Large spends are emotional.
The moment a friend comes to town and suggests a meeting for a bottle service experience when you have beer money.
The envy one feels driving down the road in a Subaru dusted by a Beemer when a Beemer is all you want in life.
How do you navigate choice spending?
Knowing your personal affordability will help with those feelings. I call it your spending cap. It is your living standard.
Know the tipping point between spending fun today and future needs.
Two examples from prior posts,
1. Ben Shipley, young guy, an up-and-comer, launching his career and financial life.
2. Grace Liu, L.A. widow, hit retirement and wanted to know if she could afford it.
The quiet part wealthy people know: a little knowledge goes a long way.
You see, Ben and Grace have very different preferences for living, but their financial questions are answered using the same fundamentals.
This video, based on content from our book, delivers the knowledge you need to improve your financial well-being.
Follow up with a DM with your questions.
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