When I Have More Money
Wednesday, October 9, 2024
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Timeless Luxury- Embracing Sustainable Opulence in Your Lifestyle
The glitz and glam of luxury living are enticing beyond compare. Beautiful, expansive homes, ritzy vacation hotspots, and all the trappings of a well-lived life are impossibly hard to resist. Luxury living routinely conjures up images of extravagance, opulence, and excess. The super-wealthy own expensive Italian and German sports cars and dine at Michelin-star restaurants.
However, true luxury can also be found in an unexpected place – sustainable living with minimal waste, particularly in everyday spending patterns. It has nothing to do with denying yourself the pleasures of life, but it’s all about learning to spend wisely. This helps to squeeze maximum value from every dollar. By focusing on waste reduction, it’s possible to live exceptionally well. Plus, you can build true financial freedom and cultivate a high quality of life without the encumbrances of wasteful expenditure.
The Illusion of Routine Spending
Here’s an exciting thought: Many people have given up on luxury living, thinking it is way out of reach. Instead, they become trapped in costly spending habits that gradually deplete their disposable income.
One such habit that millions of people are guilty of is a morning run to Starbucks or some other fancy coffee shop in the city. Rather than spending up to USD 20 per day on a caffeine beverage and a pastry, that USD 600 per month can be better spent on investments with generative yields.
But if you are going to make a point of using these apps, be sure to pick restaurant discount apps that provide inherent benefits. For example, the top-ranking food and take-out apps operate as ‘mega collectives’ where up to 50,000 participating restaurants, chains, food take-out places, gas stations, etc., showcase their products to customers with various advantageous, discounted offers.
This serves a multifold purpose – businesses benefit from increased customer loyalty and engagement, and patrons benefit from discounted offers on routine purchases that otherwise would not be possible. It’s a win-win situation. The greater the discount on everyday purchases, the less these purchases impact monthly disposable income.
Many of us fall victim to poor spending habits that drain our disposable income. Think of our routine purchases – unused subscriptions, frequent online shopping, and largely unnecessary buys. Each one of them is a cost that quickly adds up and eats into our wages, income, savings, and future desires of life. It’s far superior to reduce these cost burdens or eliminate them entirely.
We can identify many habits and remediate behavior based on a low-waste principle. It’s all about cultivating a specific mindset. Luxuries are not necessarily about what you own but about how thoughtfully resources can be managed.
Essential Steps Towards Sustainable Luxury Living
Assess Your Routine Expenses
Start the process of luxury living by auditing your spending. Identify habitual purchases that provide minimal value or comfort. For example, are you purchasing items out of convenience? Can you cut back on those purchases? Redirecting your savings to quality investments and experiences will provide greater satisfaction.
Focus on quality over quantity
One of the tenets of luxury living is the clear choice of quality over quantity. Investing in fewer, higher-quality items with longer-lasting potential reduces waste and elevates your lifestyle. Consider fashion as a case in point—buying vintage clothing items initially costs more but lasts longer. This offers better value and sustainability.
Re-evaluate your subscriptions and services
Nowadays, it’s all too easy to sign up for an online subscription service. These costs add up whether it’s an antivirus program, spellchecker, Gmail account storage, Apple storage, magazine subscription, term life policy, online dating app, or whatever the case may be. And they steadily drain your bank account. Don’t be scared – conduct the subscription audit to uncover unnecessary services that you don’t need or use. By canceling the excess waste, you free up resources for more purposeful spending.
Choose experiences over material goods
Research suggests that experiences, not possessions, routinely bring long-term happiness. An unforgettable expedition to the Mayan temples of Mexico or base camp at Mount Everest is inherently more memorable and valuable than an expensive HDTV or new sound system. Save up for something incredibly memorable rather than spending money on routine items that clutter your life. This can be as simple as dining in a must-visit restaurant or taking an overdue vacation with the family. Experiences in rich lives without contributing physical waste.
A low-waste lifestyle allows you to make room for intentional spending. The luxury of financial control is indeed empowering. You’re no longer chasing the next purchase but cultivating meaningful choices. This mindset reduces stress and clarifies where your money is being spent. This aligns with your true desires. You inch closer to the luxury lifestyle you always dreamed of by eliminating the financial drain of routine and unnecessary expenditure. Luxury living is genuinely a low-waste environment. It’s an intentional, refined approach to life with quality trumps quantity.
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Tuesday, October 8, 2024
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Opinion: The Great British Decline — From Mighty To Mediocre
Great Britain will be outpaced by Poland by the end of this decade. Once the wealthiest country in Europe for a century, Great Britain’s trajectory has been on a downward slope since the end of World War II. Aside from a brief recovery during the 1980s and at the beginning of the Tony Blair era when its economy appeared capable of converging with those of the United States, Germany, and France, the British economy has suffered decades of stagnation. This is revealed in “Foundations,” an interesting and well-documented work by Ben Southwood, Samuel Hughes, and Sam Bowman, which shows that energy costs borne by industries in this country have tripled in 20 years, well before Russia’s invasion of Ukraine. This essay demonstrates that labor productivity is 15 to 18 percent higher in France and Germany, and this gap continues to widen. Electricity production barely reaches two-thirds of what France generates and is, according to the authors, much more comparable proportionally to the electricity outputs of nations like South Africa and Brazil than to its G7 counterparts.
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In fact, entire regions of the country are falling into poverty and decay, populated by workers whose median salary is 7 percent lower than in 2008. France being the most logical country to compare with Great Britain, the authors concluded that it boasts 37 million homes compared to the 30 million available to the British, who are only slightly more numerous. French residences are also reportedly newer and much better concentrated in pleasant, prosperous areas where life is good. The authors cite a shocking example: the Greater London area has experienced virtually no growth since 1945, while the geographical area around Paris has tripled during the same period.
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There are 3.4 million French families with second homes compared to only 800,000 for the British. France has 29 tram networks compared to 7 in Great Britain, and 6 underground metros compared to 3. Since 1980, France has built 1,740 kilometers of high-speed rail compared to just 111 for the UK, and 12,000 kilometers of highways compared to 4,000… Simply put, according to the authors, France has created as many kilometers of highways in the last 25 years as the entire British network!
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The splendor of Great Britain seems to have faded. Cities like Cardiff indeed enjoyed a 1,000 percent growth over 45 years in the 19th century, in a massive movement that attracted workers northward as well as to the Midlands and Wales, who benefited from the boom in heavy industries driven by coal. This is how the authors explain, a country becomes rich: when its population moves to its most dynamic regions and cities. Manchester saw its population explode from 90,000 in 1800 to 700,000 a century later, while Liverpool surged by over 1,000 percent during the same period. This boom continued into the 1930s, spurred by the services sector, which significantly benefited cities like Birmingham, Coventry, Leicester, and Nottingham.
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Those who migrated to these flourishing areas allowed the remaining workers to leverage competition and labor shortages against employers, thus improving their own incomes in these neglected regions. However, this situation has reversed in recent decades, as the scarcity and expense of homes and properties in prosperous regions of Great Britain operate a ruthless selection that only benefits the richest and most educated. As only they can afford to live in the prosperous cities of the UK, entire parts of the country are transforming into social and economic deserts, and it is obviously the economy of the entire country that suffers.
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What has become of this prestigious country that once had the best transport network in Europe? Who built—back in the 18th century!—nearly 36,000 kilometers of toll roads and 6,500 kilometers of canals? Who constructed an impressive railway network in the 19th century… of which only half remains today? Who inaugurated the world’s first underground metro line as early as the 1860s? Who equipped 90 of its cities with tram lines—almost all of which have been dismantled today? All these advantages significantly fostered and stimulated its phenomenal economic growth, which also made London the undisputed economic capital of the world.
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Today, they are crushed by design, construction, modernisation, and renovation costs, which are certainly the highest in Europe. The authors compare the construction cost per mile of the metro, which was GDP 68 million in Madrid, to GDP 1.4 billion for the Elizabeth Line, or Crossrail, which serves London and its extensive suburbs. Urban expansion, improvements in quality of life, and growth necessarily go hand in hand with mobility and electrification, allowing France to equip all its cities of 150,000 inhabitants with trams because its costs are 2.5 times lower than those of Great Britain, whose level of electrification is (according to the authors) comparable to that of India. For comparison, the city of Leeds, with its 800,000 inhabitants, does not have a metro system.
The very same country that had as many nuclear power plants as the United States in 1965, along with Russia and all others worldwide, has not built any in 30 years and now only derives 13 percent of its consumption from nuclear energy, compared to 70 percent for France. From an energy superpower, Great Britain has become a dwarf, and this is reflected today (according to the authors) in the height of its citizens, who were 5 centimeters taller than the French at the beginning of the 19th century because they consumed 600 calories more.
It takes 10 years from the conception of an infrastructure project to its commissioning in the UK. In France, it’s 3. The Lower Thames Crossing project connecting Kent to Essex required a report of 360,000 pages costing GDP 300 million, and it is not yet completed. The Sizewell C project for constructing a nuclear power plant using EPR technology required an environmental report of over 44,000 pages and has yet to see the light of day. According to Ben Southwood, Samuel Hughes, and Sam Bowman, Great Britain is the developed nation that lacks energy the most in the world.
In my opinion, its elites have failed. I also believe that it is obviously not Brexit that is responsible for the decline of Great Britain. Brexit was, in a way, the result of the poor—or non-choices—of the British over the last 40 or 50 years.
For more on the author, Michel Santi, visit his website here: michelsanti.fr
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Monday, October 7, 2024
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