Spending habits when you make more money.
Hello guys, im a 15 year old one month into reading and gathering information about real estate investing as it is something that I look towards taking a shot at in the future. I've heard Brandon say a lot of times that "just because you make more money doesn't mean you should spend more money", Which I agree with to a certain extent but at what point do you guys suggest spending habits should increase like buying a home to live in, or getting a new car.
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#3 Investor Mindset Contributor
- Handyman
- Pittsburgh, PA
It really depends on why and how wealthy you want to be. If you're looking to embark on a frugal lifestyle now so that down the line you can have a ultra-luxurious lifestyle, yeah, that's probably not going to happen.
Living frugally really changes you over time. You simply stop wanting certain things. If you think you're going to scrimp and go without for 10-15 years and then suddenly feel an overwhelming need to buy a beachfront condo and park a McLaren outside -- er -- no, you're going to understand by then that there are way more important things you should be spending your money on.