Luxury Lifestyle
A bliss or a distraction from true bliss
Let’s talk about luxury today. But before we start let me share a little something about myself with you all. I had a very interesting course called “Behavioral Finance” in my MBA. One of the best I would say, which introduced me to the study of human psychology first time in my life.
Behavioral finance studies how psychological, cognitive, emotional, social, and cultural factors influence financial decision-making.
In this course, we also studied the investing styles and teachings of some of the great value investors of all times with a major focus on none other than “Warren Buffet”.
While I do not actively invest in stocks myself, I did learn a lot of good things in this course, that have shaped my outlook towards money.
In today’s blog post, I will talk about my perspective on luxury living. Why did I choose this topic? Well, I have been living in metro cities for the last 10 years now. I am surrounded by luxury, people talking about luxury and people chasing it with all their means and might. So, I decided to understand it first and then build a conscious approach towards it, a healthy relationship with it.
Luxury is something that is beyond our necessities. It includes things that are highly sought after in societies and cultures at different levels. High-end clothes, jewelry, watches, automobiles, and many more such things comprise luxury goods. When we have surplus money, we like to spend it on such exclusive items and pamper our loved ones or ourselves.
I too indulge in it sometimes — On my last birthday my husband bought me a high-end luxury handbag, we went for a vacation on our 1st marriage anniversary and enjoyed our stay at a luxury resort.
It is as subjective as it can be — for some people buying a Mercedes is a luxury, for others owning a yacht maybe. Desiring and enjoying such things is a natural and completely normal trait I believe.
But, we ought to decide how much and how often first.
Why?
Well in order to ensure that we are not swayed away by it till the point of no return.
What! What does that even mean?
Think about it, isn’t the euphoria associated with indulging in luxury similar to that of drinking? Or having a dessert? Or anything that we do to have that instant feeling of happiness?
It is short-lived, makes you want it more & more and it does not serve you any good in the long run.
Luxury spending is not the same as being wealthy… when we spend money on these things it just gives us a feeling that we are. While at the same time, it drains our money and makes us slaves of a lifestyle that is just a very small part of human life experience as a whole.
The moment we start feeling that it is a necessity and we are entitled to these things no matter what, we are in a soup. Our happiness and existence are based on a very weak foundation that can be shaken with any of life’s circumstances which by and large are out of our control. Like the loss of a job or an accident or a natural calamity, events can happen anytime without any warning.
A lifestyle based heavily on “consumption” without true “financial independence” is a recipe for an unsatisfied life that is constantly at risk of being affected by the smallest hiccup.
As soon as our basic needs are met for a comfortable living and we have surplus funds, we should strive to become truly independent financially. We should make sure that we are not just putting our money in “collecting things”. Especially the things which depreciate the moment we purchase them. Just like we don’t spend all our surplus money on drinking because we enjoy the high, or we don’t eat a dessert with every meal every day because we like and enjoy it, it is insane to constantly chase luxury in all the spheres of our lives to the limits of how much we can afford!
And when I say that, I am not trying to disregard, by any means, the brilliant work done by our fellow human beings in creating these marvelous luxury items and experiences. Most of them are magnificent works of human creativity, intelligence, and sheer hard work.
But luxury is also a form of materialistic pleasure that stops adding value to our lives beyond a certain point.
Why should we work & earn money then, if not for spending on luxury? Some of you must be thinking…
Well, if we have additional funds while we are living a quality life, we should be saving and investing them, to attain “financial independence”. Working towards building a solid foundation for ourselves and our children.
Higher self-esteem, a feeling of accomplishment, freedom, and a heightened sense of resilience are just some of the things that come along as we become independent financially. We all would like to have all of these eventually, right?
So next time, when you think of indulging in luxury, take care of these things :
- Approach it from a position of strength rather than weakness. Spending on a fancy item on credit! Strict no…
- Ask yourself, would you be unhappy if you don’t get to indulge in it? The answer should be always No… True happiness is never really associated with the consumption of expensive things…
What are your thoughts on luxury? Have you ever purchased anything luxurious that has brought you lasting happiness?
Share in comments below or write to me at megspeaks.in@gmail.com
Stay Happy! Stay healthy!
Take Care.
