Quote from: Uruhara on July 02, 2025, 04:51:40 PM

Quote from: Stepstowealth on May 19, 2025, 01:47:12 PM

What do you understand by standard of living how do you think it can be affected by savings and investment. For instance do you think an individual who is actively trying to save and invest can improve their standard of living SIGNIFICANTLY or even maintain the one they already have?

Would you advise an individual to try improve their standard of living as they save and invest since saving and investment is a continuous process?

Someone who is truly focused on their savings and investments for a better future usually does not like to raise their standard of living even though they have started to earn a greater income. because when they get a greater income, it is usually not their standard of living that is increased but usually the amount of their savings and investments that is increased.

That's right! As soon as you start spending all the newly gotten gains, you are getting nowhere. You can always spend more money, there is no limit but that won't improve your life.

Quote from: Uruhara on July 02, 2025, 04:51:40 PM

But for people who prioritize prestige and like to improve their standard of living, usually as their income increases, their standard of living will increase. But it's still a good thing if they can still save and invest. What is not true is those who improve their standard of living so much that they cannot even set aside their money for future savings and investments.

People sometimes confuse wasting money on things that are overpriced or not necessary as improvements to standard of living. These things are not the same. More permanent upgrades are what I would consider massive improvements to standard of living first. If you are paying rent, buying your own place would be a big step!