When can you buy a nice car, a month-long vacation, or even a dinner at a top-tier restaurant — while being guilt-free about the expense?
You’ll notice I use the word “when.” That’s because luxuries don’t have to be a strict buy-it-or-forget-it situation. I believe we can afford to buy most things we want in life, even those that are considerably “luxurious.”
I’ve talked about being free from money guilt if you’re a naturally frugal person. It’s best to look at luxury spending from a milestone perspective.
To build wealth, we can do two things: Option 1 is great but takes time and is somewhat out of your hands. You can work really hard and still end up not making money. Option 2 is perfect because it’s more within your control. And […]
FOBO or Fear of Better Options is a psychological phenomenon where someone avoids making a decision out of fear that there may be a better option. FOBO is the nagging feeling that there might be a better choice out there, which leads to analysis paralysis.
In August of 2000, the energy company, Enron, posted a peak stock price of $90.75 per share. At the time, Enron was one of the largest companies in the United States. It wasn’t an “obvious” shady scam; everyone thought it was a great investing opportunity. […]