What Does Wealth Mean to You?
What does wealth mean to you?
When it comes down to it, I think a lot of variance is simply a product of the differences in how people value wealth and success. Although wealth and success are not traditional synonyms, in this case I think they should be because how you define success is also tied to what you consider wealth.
What Do You Value?
How do you value wealth and success? The reason for the variance in opinions and decisions in regard to personal finance is because everyone is different when it comes to what they value.Yes, lack of financial education can lead you down some dark paths and you should try to avoid the debt trap while in pursuit of what you value.
Why Does It Matter?
You may be thinking that the idea of people defining wealth and success differently is an obvious concept. So why does this matter? It matters because your happiness will ultimately be tied to your definition of success and wealth, regardless of what others think or how they behave.
How to Find What You Value
Essentially, metacognition is a fancy word for self-reflection. If you want to understand why you think and do the things you do, you need to spend time reflecting on it in an honest way. Make sure you think about how money decisions in pursuit of one thing impacts your ability to pursue other items that are important to you.
Practicing Frugalism to Live Your Best Life
No matter what it is that you value in life, we encourage you to try and shift your mindset from consumerism to frugalism and to practice what we call frugalism. At its core, the idea of consumerism to frugalism is about understanding how the systems work so you can make an effort to not be manipulated.
Moral of the Story
Everybody’s idea of wealth and success is different. Although it largely depends on your background and experiences, what you value most is subject to change over time as you learn and grow.
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