People should spend money on what they love while ruthlessly cutting costs on things that do not enhance their lives in a meaningful way.

“one of your key insights is that you you actually encourage people to spend money on the things that they love and which they feel will enhance their lives in a meaningful way. But if you're going to do that you need to cut ruthlessly on the things that that don't enhance your life in a meaningful w”

The primary cause of athletes going broke is lifestyle inflation rather than the tax system or professional fees.

“The real issue isn't the system. It's the lifestyle creep. Nobody told you to live like a king. Buy five cars or move with a 10erson entourage. Modest is allowed.”

Athletes often fall into financial trouble because they succumb to pressure to maintain a lavish image and keep up with high-spending peers.

“A lot of people, Uncle Joe, when you make it, a lot of people get caught up in the lifestyle, having to look a certain way, having to drive a certain car. Now, when it comes to driving a certain car, they start buying multiple of said cars.”

The couple recognized they were living above their means and were willing to make lifestyle sacrifices.

“we both understand we are living above our means and willing to make sacrifices”

The couple was living above their means and needed to make significant changes to their lifestyle.

“we both understand we are living above our means and willing to make sacrifices”

Maddie acknowledges that her spending has increased as her income has grown and admits she fears she will continue to feel financially stressed regardless of how much money she earns.

“when we first moved abroad we were making much less money and I believe I felt the exact same level of stress about money as I did today when we're making a lot more but I spend a lot more and the lifestyle creep part of that is what oh I shop more now and we live in a nicer flat and we do a bit mor”

She acknowledges that their spending habits have consistently expanded alongside their income, leading to an unsustainable lifestyle.

“I mean, we definitely increased our spending.”

Natalie argues that her shopping habit is not a problematic issue because it is not toxic and she can afford her lifestyle.

“I just realized come to term that I love beautiful things it makes me feel good and why not it's not a toxic thing I'm not using substances it's just like clothes”

She believes she deserves to spend money on things because she makes a good living and wants her children to have things.

“I don't walk around going, I feel I deserve this, but I definitely feel like I do because now I make a good living and I want my children to have things.”

Shelby Church chooses to invest in expensive hair services because it is part of her professional image and she prefers to avoid the risk of a bad outcome.

“I'm scared like if they mess up your hair, It is part of your image. That is Yeah, like you have to live with that for a while. Like if you mess up the color, it will fry it and I don't want to take the risk.”