Frugaling

Save more, live well, give generously

  • Home
  • Start Here
  • Popular
    • Archives
  • Recommended
  • Contact
  • Save Money
    • Lifestyle Downgrade
    • Save Money with Mindfulness
    • Save at Starbucks
    • Psychological Trick To Reduce Your Online Shopping
    • Best Freebies
  • Minimalism
    • 8 TED Talks To Become A Minimalist
    • We Rent This Life
    • Everything Must Go
    • Lifestyle Downgrade
    • The Purchase Paradox: Wanting, Until You Own It
    • Nothing In My Pockets
  • Social Justice
    • Destroy The 40-Hour Workweek
    • Too Poor To Protest: Income Inequality
    • The New Rich: How $250k A Year Became Middle Class
    • Hunter Gatherers vs. 21st Century Desk-sitters
  • Make Money
    • Make $10k in 10 Months
    • Monetize Your Blog
    • Side Hustle for Serious Cash
  • Loans
    • 5 Rules To Follow Before Accepting Student Loans
    • Would You Marry Me?
    • Should I Have a Credit Card If I’m In Debt?
    • $50k in Scholarships in 70 Minutes

The Wolf Of Wall Street Is In Me

By Frugaling 4 Comments

Share This:

rkoi2

I dissociate somewhere between Donnie smoking crack in the back of a restaurant and Jordan stacking bills on bills in a safe deposit box. This is probably the fourth time I’ve seen The Wolf of Wall Street with Leonardo DiCaprio, so I pretty much know the entire film. I laugh on cue, but mostly drift into some sort of revulsion to the moneymakers’ debauchery.

Jordan, played by DiCaprio, chucks a wad of cash off the side of his yacht, and I fantasize about what would life be like if I were filthy rich. Something stirs inside me. I want that level of wealth and I don’t know why.

My life is comically dissimilar from Jordan’s. I’m nearing the end of graduate school, thinking about jobs, and constantly checking my bank account. The latter stands stronger than ever due to saving and scrimping, but it’s a measly sum. I’ll have a small amount of student loan debt to pay off, too. When I graduate, I’ll expect to earn $50-70,000 with my Ph.D. in hand.

Privilege allowed me to choose my career path. Early in my college years, I replaced business with psychology. The switch forever changed my earning potential. I just hoped psychology would allow me to help others in need — the money didn’t matter much.

Now, as The Wolf plays before my eyes, I struggle with two mindsets.

There’s the Jordan side of me. I want to travel. Iowa is killing me slowly with its lack of diversity and landlocked status. I want to be able to live in lavish places and decorate as I see fit. My minimalism borders on austere. I want to be able to buy, buy, buy. Every time I do, I feel this pang of guilt — I need to save that dollar. And I sure as hell don’t ever want to be in debt again.

Then there’s the modest, frugal person who writes these words. Iowa has been the perfect place to save, bike, and enjoy graduate school. I don’t care to have much. I don’t need to own, own, own. I don’t want my primary title to be “consumer.” I like being able to save, live, and give to others.

Maybe I’m dreaming of wealth because reality isn’t always easy. I’m moving out of an apartment complex I can no longer afford, paying off a hefty sum for a car, and living on a tight budget each week. Scrimp and save is often more challenging than earn and invest.

If I had the opportunity to make more money, I wonder how much I’d want. Would a million dollars in savings/investments suffice? Would tens of millions? Would a billion?

The mind seems capable of more. Always more. The mode is more. More than enough. More than the other person. More than you.

As the movie finishes and Jordan begins to unravel and lose it all, the director’s message is clear: money doesn’t buy happiness. You can still be a miserable millionaire. But the urge remains. How can the mind be so illogical and rational at the same time?

Filed Under: Make Money Tagged With: Billionaire, investing, Jordan Belfort, Millionaire, money, rich, saving, Stock Market, Wall Street, Wealthy, wolf of wall street

Picture The Life, Not The Millions You Want

By Frugaling 3 Comments

Share This:

Rich Kids of Instagram photo
Photo: Rich Kids of Instagram

There’s a powerful allure to the “self-made millionaire.” Across vocations and incomes, some of the most viral and popular articles in the personal finance world provide how-tos to readers. And if they’re not step-by-step guides, articles tend to showcase people who’ve succeeded in their path to great financial success.

The lesson is simple: watch and learn. View a role model, and copy the steps to success. Seemingly, this is propagated as a convenient and regular method for monetary gain. Unfortunately, every individual is different — from intelligence to net worth to credit rating. Each of these factors can influence your ability to hustle and follow in these role models’ footsteps.

Too frequently, affording a lifestyle is purely linked to income and wealth. That goal of riches seems empty to me, what do you think? What if we reversed this strange paradigm and reviewed the life, rather than money, we want?

Today I wanted to introduce a new method for success that downplays the millionaire status for something more lasting and rewarding. The following are 5 key elements for a fulfilling and happy life, and may just provide the riches along the way!

Photo Rich Kids of Instagram
Photo: Rich Kids of Instagram

1. Freedom. This is continually at the top of the heap for financially savvy worker bees. Freedom allows for free time, family time, and fun time. Often, more work and income are seen as the pathways to this goal. This ironically can propel us further from freedom and enter into a vicious work-cycle that only perpetuates our desire for more down time. When we scrub away goals of financial riches, freedom and time become crystal clear. Reduce any discretionary spending (if possible), and you’ll suddenly see more money in your pocket — all while maintaining and/or reducing time spent working. Now, you can read that book with your newfound free time (just make sure to check it out of the public library)!

2. Autonomy. People love choice and independence. Heck, as children, our first words are usually “yes” and “no” (right after “mom” and “dad”). We are born, bred, and instructed in the world of autonomy. Imagine for a moment the toothpaste aisle. Can you picture all the options, rows, columns, and sale items? Every time I walk by the toothpaste I’m bombarded by the variations — uncertain where my money is best spent. With more money, we get more choice. With riches, we are able to choose grander items — upgrading from a Ford Pinto to a BMW 7-Series. But this is the unfortunate influence of massive advertising dollars. Will the BMW 7-Series make a fundamentally whole and self-actualized person? Unlikely. And that brings us to the original point of this list: fulfillment. Let’s make fulfilling decisions that last, not spontaneous purchases that fill wants and cravings.

3. Self-worth. The things we own tend to say a lot about us. There’s actually a professor, Sam Gosling, that wrote a book called Snoop: What Your Stuff Says About You. He points out some pretty self-explanatory conclusions about your living spaces. Your home represents you, and can often provide a sense of self-worth. Remove your items, and who are you? Really, I mean it… Without your iPhone, Macbook Air, furniture, photos, and material goods, tell me about yourself. Can you do it? I bet you can, because your self-worth and personhood is bigger than anything you own. After years of shopping sprees and poor financial planning, I realized that once I stopped spending wantonly, my self-worth soared. This is an intrinsic trait that requires inner worth and work — your bank account will never provide true self-worth.

Photo Rich Kids of Instagram
Photo: Rich Kids of Instagram

4. Health/Safety. There are countless examples of wealthy people having bodyguards and security teams. Their money is frequently seen as a path to safety. But this is comically out-of-whack, as the wealthier you become, the more threatened you may feel. Frankly, the stories of billionaires being kidnapped for ransoms should scare anyone. What this tells us is that there’s a middle-ground for wealth and safety. The safest and healthiest levels seem to center on getting your health needs met and living in a proper shelter. Again, this doesn’t require millions.

5. Companionship. I dream of hosting lavish parties in a loft apartment; preferably, encapsulated in the clouds with glass windows. Something modern to look out at the world. What my heart and head is really getting at is a desire for friends and companionship. It speaks in funny ways, when it desires these simple pieces of fulfillment. Companionship and connection with other people is fundamentally human — we are social creatures. But money isn’t necessarily required for that. Sure, you may not look like the Rich Kids of Instagram, floating on a yacht full of tanned 20-somethings, but there are people who care and will be around when the going gets tough; again, regardless of the digits in your bank account.

Filed Under: Save Money Tagged With: Autonomy, Billionaire, Choice, Companionship, freedom, health, Millionaire, rich, Rich Kids of Instagram, Riches, RKOI, Safety, Self-worth, Wealth

Follow

  • Facebook
  • Google+
  • Pinterest
  • RSS
  • Twitter

Subscribe

Best Of

  • The New Rich: How $250k A Year Became Middle Class
    The New Rich: How $250k A Year Became Middle Class
  • 5 Tricks To Save Money At Starbucks (Updated)
    5 Tricks To Save Money At Starbucks (Updated)
  • Is Frozen Juice Cheaper?
    Is Frozen Juice Cheaper?
  • Destroy The 40-Hour Workweek
    Destroy The 40-Hour Workweek
  • 10 Unexpected Benefits Of Buying A Bike
    10 Unexpected Benefits Of Buying A Bike
  • Ownership Isn't Real, We Rent This Life
    Ownership Isn't Real, We Rent This Life

Recent Posts

  • How to Eat Healthy on a Budget
  • How To Live Stream Your Art
  • 5 Fun Summer Activities on a Budget
  • How to Pay Off Medical Debt
  • 5 Ways to Save Money Before a New Baby

Search

Archives

  • June 2023 (1)
  • May 2023 (2)
  • January 2023 (1)
  • March 2022 (3)
  • February 2022 (2)
  • November 2021 (1)
  • October 2021 (2)
  • August 2021 (4)
  • July 2021 (5)
  • June 2021 (3)
  • May 2021 (2)
  • January 2021 (2)
  • December 2020 (2)
  • October 2020 (2)
  • September 2020 (1)
  • August 2020 (3)
  • June 2020 (1)
  • May 2020 (2)
  • April 2020 (1)
  • February 2020 (2)
  • January 2020 (1)
  • December 2019 (1)
  • November 2019 (5)
  • September 2019 (4)
  • August 2019 (1)
  • June 2019 (1)
  • May 2019 (1)
  • April 2019 (1)
  • March 2019 (3)
  • February 2019 (1)
  • January 2019 (3)
  • December 2018 (1)
  • September 2018 (2)
  • July 2018 (1)
  • June 2018 (2)
  • May 2018 (1)
  • April 2018 (5)
  • March 2018 (6)
  • February 2018 (4)
  • January 2018 (1)
  • December 2017 (10)
  • November 2017 (3)
  • July 2017 (2)
  • June 2017 (5)
  • May 2017 (2)
  • April 2017 (8)
  • March 2017 (4)
  • February 2017 (3)
  • January 2017 (2)
  • December 2016 (2)
  • November 2016 (4)
  • October 2016 (2)
  • September 2016 (1)
  • August 2016 (4)
  • July 2016 (1)
  • June 2016 (3)
  • May 2016 (3)
  • April 2016 (4)
  • March 2016 (5)
  • February 2016 (2)
  • January 2016 (2)
  • December 2015 (3)
  • November 2015 (5)
  • October 2015 (5)
  • September 2015 (4)
  • August 2015 (6)
  • July 2015 (8)
  • June 2015 (6)
  • May 2015 (14)
  • April 2015 (14)
  • March 2015 (13)
  • February 2015 (12)
  • January 2015 (15)
  • December 2014 (10)
  • November 2014 (5)
  • October 2014 (6)
  • September 2014 (7)
  • August 2014 (12)
  • July 2014 (11)
  • June 2014 (12)
  • May 2014 (16)
  • April 2014 (13)
  • March 2014 (13)
  • February 2014 (9)
  • January 2014 (20)
  • December 2013 (9)
  • November 2013 (18)
  • October 2013 (15)
  • September 2013 (11)
  • August 2013 (11)
  • July 2013 (27)
  • June 2013 (18)
  • May 2013 (16)

Best Of

  • The New Rich: How $250k A Year Became Middle Class
  • 5 Tricks To Save Money At Starbucks (Updated)
  • Is Frozen Juice Cheaper?

Recent Posts

  • How to Eat Healthy on a Budget
  • How To Live Stream Your Art
  • 5 Fun Summer Activities on a Budget

Follow

  • Facebook
  • Google+
  • RSS
  • Twitter

Copyright © 2023 · Modern Studio Pro Theme on Genesis Framework · WordPress · Log in