Liz joins this week’s podcast, and we introduce the concept of lifestyle inflation or creep and share how our lifestyles have inflated in the last 10-20 years. We discuss the research on what makes people happy, the concept of hedonic adaptation, and the hedonic treadmill, and we go deep on whether we can genuinely admit or realize when our ego is driving our purchase decisions. Lifestyle inflation isn’t always bad, though we both strive to be intentional with our spending. We then dig into individual spending categories and reveal how our lifestyles have inflated over the years.
Show References:
- The Morgan Housel Podcast
- Maggie’s favorite sheets: Brooklinen Sheets
- Liz’s favorite sheets: Cariloha Sheets
- Maggie’s favorite “work” shoes: M.Gemi Shoes
- Liz Gets Loaded podcast: How much I’ve spent on my peloton habit
- Liz Gets Loaded podcast: Joy Ride: How I Fell in Love with My Unnecessary New Car
- The Fioneers
- Netflix: How to get rich
- Book: I will teach you to be rich
- Book: Die with Zero
- Friends on FIRE episode #158 – Control your lifestyle to find financial freedom