Reply to How do you keep dedicated to living below your means?

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[quote=Anonymous]Surrounding yourself with people who make more than you is a sure way to feel poor even when you have a lot.

Surrounding yourself with people who make less (or live on less) is a sure way to feel rich.

It may be hard to avoid the co-workers who live large and therefore you are inclined to compare yourself to them.  Do your kids go to private school?  Again, you will be surrounded by the richy rich mentality... spend more, live higher!  If your kids friends and your friends think it is a treat to go to Ocean City, you won't feel bad about not going to Hawaii!  Wealth is relative once you get above 100K.  We feel very fortunate and somewhat wealthy... our HHI is $193K.  We save about $50K every year (in addition to retirement savings taken from paycheck).  We live on $60K for all our vacations and repairs and comsumption.

We own our home and cars outright.  Kids go to public school.

We aren't rich for this area, but we feel like we are.  It's all relative.

As for practical tips, I would suggest writing down your goals and writing out how your savings each month (or earnings) are helping you get there (i.e. goal of having X in savings by 2025.... saving $2000/mo. =$24K/yr = .... )

Write out the goals and the small steps that will get you there.  That will help you feel like you are following a defined plan rather than just some nebulous pie in the sky, vague dream.[/quote]

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