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What is Lifestyle creep?
Joey and AD are in agreement today, talking to their younger selves – and they're presenting them with reasons to embrace delayed gratification and learn to appreciate that the reward is in the process. To understand our enemy we first have to identify it and give it a name.
Today's topic and enemy is 'lifestyle creep' and it's something we are all guilty of from time to time. Lifestyle creep happens when our standard of living improves because, say, we get a raise, and so too then does our discretionary consumption on non-essential items increase. The luxury goods that we buy become perceived as a necessity versus a want.
Are new Air Jordans a 'right to have' or a choice? What if you invested that extra $20K per month you were making instead of spending it on living large? Joey and AD are considering this, and more, in an entertaining conversation that will get you thinking about what investments you should be making – and the attitude you need to adopt as you do. Come and get it!
In This Episode:
- Are multifamilies going to be dealing with more vacancies in 2023?
- Making a smart arbitrage pivot if the economy changes
- Understanding the meaning of 'lifestyle creep'
- What should you do with the extra cash you make instead?
- Investing in yourself and in your business in your 20s
- If you don't know what you're up against you don't know how to prepare for it
- Appreciating delayed gratification
- Why improving your credit score is a good place to start
- Why you can't make an investment and expect huge returns right away
- It's not 'get rich quick' but 'get rich for sure'
- Why everything has to do with mindset
- Perfecting your task for that day – how that progress adds up over time
- How the reward is in the process
And more!
Resources:
CBRE Article Joey mentions - Multifamily | CBRE
https://www.cbre.com/insights/books/us-real-estate-market-outlook-2023/multifamily
- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/
Connect with Joey Garba:
- Instagram - https://www.instagram.com/mrjmaze/
Connect with Ademola Dawodu:
- Instagram - https://www.instagram.com/adtheflyrealtor/
- Personal -https://linktr.ee/adtherealtor
- TMG Investment Real Estate -https://tmginvestments.com/
View all episodes
By Uncommon Network
5
44 ratings
Joey and AD are in agreement today, talking to their younger selves – and they're presenting them with reasons to embrace delayed gratification and learn to appreciate that the reward is in the process. To understand our enemy we first have to identify it and give it a name.
Today's topic and enemy is 'lifestyle creep' and it's something we are all guilty of from time to time. Lifestyle creep happens when our standard of living improves because, say, we get a raise, and so too then does our discretionary consumption on non-essential items increase. The luxury goods that we buy become perceived as a necessity versus a want.
Are new Air Jordans a 'right to have' or a choice? What if you invested that extra $20K per month you were making instead of spending it on living large? Joey and AD are considering this, and more, in an entertaining conversation that will get you thinking about what investments you should be making – and the attitude you need to adopt as you do. Come and get it!
In This Episode:
- Are multifamilies going to be dealing with more vacancies in 2023?
- Making a smart arbitrage pivot if the economy changes
- Understanding the meaning of 'lifestyle creep'
- What should you do with the extra cash you make instead?
- Investing in yourself and in your business in your 20s
- If you don't know what you're up against you don't know how to prepare for it
- Appreciating delayed gratification
- Why improving your credit score is a good place to start
- Why you can't make an investment and expect huge returns right away
- It's not 'get rich quick' but 'get rich for sure'
- Why everything has to do with mindset
- Perfecting your task for that day – how that progress adds up over time
- How the reward is in the process
And more!
Resources:
CBRE Article Joey mentions - Multifamily | CBRE
https://www.cbre.com/insights/books/us-real-estate-market-outlook-2023/multifamily
- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/
Connect with Joey Garba:
- Instagram - https://www.instagram.com/mrjmaze/
Connect with Ademola Dawodu:
- Instagram - https://www.instagram.com/adtheflyrealtor/
- Personal -https://linktr.ee/adtherealtor
- TMG Investment Real Estate -https://tmginvestments.com/