People get into mortgages, in new car payments, etc, and into a deeper debt trap every time
"The solution is to keep a frugal lifestyle. e.g. my lifestyle is around Euro1000/month, even including my sailing boat. A typical good payed coders job leaves Euro2000 surplus every month. So working for salary for one year means, that I have two year runway to work for myself."
My situation is similar (including € but no sailing boat), I try not to live beyond my means but not only that, to save some money, and not "try to fill my salary with expenses"
> People get into mortgages, in new car payments, etc, and into a deeper debt trap every time
Only if they choose to.
I haven't got caught up in upsizing (lifestyle, houses or even having a car). My aim is to pay off my mortgage as soon as possible, and that's made easier in a few years when our childcare costs will drop dramatically (nursery is frighteningly expensive!). Our lifestyle isn't completely frugal, but we keep most of our holidays in the UK visiting friends/family, rather than splurging on worldwide travel. Most of the money from bonuses, share options (those were the days) and pay rises go towards paying off chunks of the mortgage rather than upgrading lifestyle.
Good public transport (London, UK) means that owning a car isn't a necessity; buses/trains/tube/taxis will do most of it and there's Zipcar or other rental cars to fill in the gaps.
People get into mortgages, in new car payments, etc, and into a deeper debt trap every time
"The solution is to keep a frugal lifestyle. e.g. my lifestyle is around Euro1000/month, even including my sailing boat. A typical good payed coders job leaves Euro2000 surplus every month. So working for salary for one year means, that I have two year runway to work for myself."
My situation is similar (including € but no sailing boat), I try not to live beyond my means but not only that, to save some money, and not "try to fill my salary with expenses"