Even though true happiness probably lies in deeper soul-searching, most of us are still too materialistic and will continue to be so. A key to satisfying these materialistic needs may be to upgrade your lifestyle in multiples, not increments.
Vivek Bhargava, CEO at iProspectCommunicate 2, shares the basic idea behind “4X Philosophy:” Don’t upgrade your lifestyle as your income increases. Instead, you keep your lifestyle on hold and let your income grow. When your income reaches four times what it was, then upgrade your lifestyle:
Let’s assume that your income is 100 and your expenses are 80. As income increases, most people’s expenses will too. In the 4X philosophy, you hold your expenses steady until you’re able to afford a single 4X jump from 80 to 320. Your mind has years of experience of ‘lifestyle at 80’, so the ‘lifestyle at 320’ tends to have an eternally joyous quality.
That quest for material success may never end because money may not buy your happiness, but Bhargava’s larger plan is sensible. When you do go for that upgrade, you might also want to stick to buying experiential items, as experiences are not mutually exclusive from materialistic stuff.
Mind Over Money [Mumbai Mirror]