lifestyle inflation is common and almost natural. But, if your goal is Financial Independence, however, then you cannot afford to inflate you lifestyle too much.
Early this year I had my “aha” moment. My “Why”, my reason for pursuing FI, has been staring at me the whole entire time since I discovered the FIRE movement.
It is preventing hundreds and thousands of Filipinos from increasing their net worth. It’s the main culprit that puts people into perpetual debt.
Money is freedom. Whatever your notion about money being evil and not a source of happiness is not going to help you or your offsprings. So make money and invest them in index funds.
Achieving Financial Independence allows Filipinos to pursue their many passions and interests without having to worry about where to get money to pay for bills.
You can become a millionaire even if you don’t have the same advantages of people who were born in the US, from privileged background, and have trust funds. If you develop new money habits, you’ll become a rare Filipino immigrant millionaire.