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--In episode four of Money on the Table, Season 3, we explore the topics of affordability, inflation, consumerism, frugality, and the pursuit of happiness. We discuss the rising costs of goods and services, the impact of corporate-driven inflation, and the importance of making trade-offs and sacrifices. We emphasize the need to focus on the cost rather than just the price of things and the long-term value of living below one's means. We also share our newfound appreciation for inconvenience and the dangers of extreme frugality and extreme luxury. Overall, the conversation encourages listeners to have transparent conversations about money and to prioritize financial peace of mind.
On the menu:
Balsamic chicken with rosemary and grape tomatoes, roasted sweet potato and Brussel sprouts
Key Takeaways:
-The rising costs of goods and services are making it difficult for people to afford their desired lifestyle.
-Inflation is driven by a combination of factors, including supply chain issues, demand-driven inflation, and corporate-driven inflation.
-It is important to focus on the cost rather than just the price of things, considering the long-term financial impact and trade-offs involved.
-Living below one's means and practicing frugality can provide financial stability and the ability to fight back against corporate greed.
-Inconvenience can be beneficial in appreciating the value of ease and avoiding excessive consumerism.
-Extreme frugality and extreme luxury are both unrealistic and unsustainable approaches to life.
-Having transparent conversations about money and prioritizing financial peace of mind are essential for a meaningful and fulfilling life.
Chapters
00:00 The Affordability Challenge: Rising Costs and Wages
03:09 Understanding Inflation: Supply Chain Issues and Corporate-Driven Inflation
06:21 The Importance of Trade-Offs and Sacrifices
09:46 Focusing on the Cost, Not Just the Price
14:09 The Value of Inconvenience and Avoiding Excessive Consumerism
23:49 Transparent Conversations About Money and Financial Peace of Mind
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About the Hosts:
Julien and Kiersten Saunders are the hosts/producers of Money on the Table, creators of rich & REGULAR® and hosts of the rich & REGULAR podcast. They are personal finance experts, speakers and authors of Cashing Out: Win The Wealth Game By Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by Forbes. To learn more about the book, visit richandregular.com/cashingout/
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