The Bigger your Career, the Bigger the House

7 04 2011

You heard the title right.  That’s what one woman said during a conversation regarding rental prices in the city.  Surely she was crazy right?  Is this what Americans were thinking?  Apparently so because another woman agreed with her.

Sitting and observing the element of the conversation, another woman replied that her rent was just over $1,700 per month for a studio apartment in the “city”.  Finally I spoke about our journey of living in the cheapest apartment afforded to us in an attempt to save a monumental amount of money.  I had spoken about our choice to live radically on a budget for 2 years rather than save here and there for 4 years.  Their eyes widened with amazement. 

The Bigger your Career, the Bigger the House shouldn’t be an example to live by.  In Stanley’s book The Millionaire Next Door, many traits of millionaires included living in modest paid-for homes rather than the bigger mortgage-heavy house.  These millionaires also drove used cars, rather than the newer cars with the hefty price tags. 

I would recommend to everyone:  think about your future financial goals.  If you are excelling in your career with raises and bonuses, be wise about your spending habits.  Because more money is coming in, doesn’t mean the difference in pay should be leaving your pockets.  Choose to have future goals and save for them with the extra pay or bonus.  Remember, the Bigger the Expense, the More you may have to Lose.

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