look poor-er

There’s a ton of professional athletes that went BROKE…

Let’s talk about WHY?

DEFINITION
What’s Lifestyle Inflation?

• This is when your lifestyle becomes more expensive as soon as your income increases.

• Mike Tyson here, started earning millions from boxing, but also spent multi-millions on his lifestyle. That type of life, led to him going bankrupt and being just as broke as before.

PRACTICAL ADVICE
LOOKING POOR is important!

If you can maintain your cost of living, while you’re growing your income; you’ll have more money in your life to save, invest, and put towards the things you love.

• You’ll also be LESS pressured to spend… Here’s why:

  • Imagine you start growing your income, then you buy a big house with a fat mortgage. Then you buy a new car with a fat payment. Then you have to now get clothes that match this new vibe. And now the new friends you have that love to spend money are always inviting you out to eat/on trips.

  • You’re then STILL living paycheck to paycheck! Because you have to keep working and working in order to support this new lifestyle of yours! That’s a sucky place to be in.

HELPFUL RESOURCES
Start saving your money in an HYSA

• If you start building wealth, don’t show it on the outside. You should probably just stick to the H&M shirts, and Burlington shoes you have. So now you can go against the classic Biggie song “Mo’ Money, Mo’ Problems'.”

• Now what are you gonna do with all this extra cash? One place you can put it is in a High-Yield Savings Account. You can open one today right here!

OUR COMMUNITY
What are your questions? Or share a win!

• Reply to this email with any personal finance question you have, or share with me any wins in your life! (I’ll respond to your questions anonymously in future emails)