[fleddr]

I think the direct implication of saying that 70K is the point of diminishing return is that people making less than it are less happy? I think the study therefore is consistent with what you're saying?

For very high incomes, even without research data, I still find it only logical that excessive spending doesn't add much to happiness. This is due to almost every product/service not linearly improving as you spend more on it.

A sports car is awesome but after 2 weeks you realize it still only takes you from A to B, and you internally normalize it. You can buy 30K worth of audio equipment but it will not sound 30 times better than 1K equipment, more like 5% better.

Note that I'm purely looking at it from a spending perspective.

As for societal pressures, I disagree. There's a lot of room for a compromise here. For example, our expenses on daily consumables is zero. We don't do Starbucks, going out for lunch, or any of it. Zero.

Nobody is pressuring us to make those daily expenses and by looking at us, you can't tell whether we do or don't. This alone is a considerable monthly savings.

We may use our clothes and shoes twice longer than a typical person, yet the wardrobe is large enough that absolutely nobody would be able to tell. Or care, for that matter.

When you enter our house, you won't see some stripped down project by a frugalist. In fact, it is above average luxurious. We have furniture that is of such quality that it is effectively ever lasting. We have very high end electronics, not budget stuff. And so on.

We may even appear richer than average whilst spending less than average. So the societal pressure is zero, because we don't appear poor or poorer compared to our peers.

Cut daily expenses, buy quality and utilize the longer lifespan, put this delta into additional savings. Spend part of savings to lower cost of living (mortgage, energy bill), and get even more savings.

Difficult? Easy.

[devonkim]

The difficulty isn't for folks like you and myself - curtailed, very conspicuous, TCO-conscious consumption is not that hard if one has the brain cycles and will to defy a lot of social norms. But given the efficacy of advertising campaigns and how spending tends to go up with income it's clear that people spend more on average when they make more money even with more time and brain cycles to spare.

As someone that's had a great deal of difficulty justifying a lot of longer lifespan timeline consumption patterns due to moving constantly weighing living circumstances and career I'd say that difficulty varies considerably for households even when one's aware of the TCO. I'm not going to tell an undocumented migrant family that they can just save more and spend less with more conspicuous consumption like buying a reliable econobox car like I did. Decisions and habits are also much easier when one has a partner or support system aligned with one's longer term goals and habits. It seems quite tone deaf to outright declare all of these factors are simply "easy" because it is easy for one's own intrinsic and extrinsic factors.

[fleddr]

With "easy" I mean that our strategy does not deny quality of life in any significant way. That's what got this conversation started: the perception that saving a good portion of your income is painful. A massive sacrifice. It isn't.

I started saving at age 6, on a 1 guilder (I'm from the Netherlands) weekly allowance.

When I landed my first job, still single, low income, I still saved 30%. I save significantly regardless of income. This to say that I'm not some privileged armchair commenter. I come from the lowest of the lower working class, and have plenty of experience with poverty.

So it's not tone deaf, it's an attitude. Which indeed most people don't have. That's a lack of education or awareness. Not a matter of it being difficult. A few minor tweaks do wonders.

I do agree with one point: it won't work if you don't have a partner that aligns with such a strategy.