Member-only story

Break Free: The Secrets to Overcoming Lifestyle Servitude and Achieving Financial Freedom

Diarmaid McMenamin
14 min readMay 13, 2024

--

Photo by Karsten Winegeart on Unsplash

www.building-out.com

Imagine waking up each day, your hard-earned money already allocated to bills, with little left for savings or personal enjoyment. This is lifestyle servitude, a state where your financial decisions are dictated by your lifestyle choices, trapping you in a cycle of work just to maintain a costly way of living. It’s a common trap that ensnares many professionals, forcing them to sacrifice time and financial independence to keep up with their living standards.

Lifestyle servitude often creeps up unnoticed as gradual increases in spending match or exceed increments in income. This dangerous cycle can be subtle, making it particularly challenging to recognize before it becomes deeply entrenched in your daily routine.

Why Breaking Free Is Crucial for Professionals

For professionals across various fields, understanding and addressing lifestyle servitude is crucial. Many find themselves stuck in high-paying, high-stress jobs that they can’t afford to leave because their lifestyle — the luxury car, the big house, or the private schooling for their children — demands a certain income level. This dependency on a high income to sustain a particular lifestyle prevents many from…

--

--

Diarmaid McMenamin
Diarmaid McMenamin

Written by Diarmaid McMenamin

Helping busy, time-poor professionals build a life of time and financial freedom by improving financial education and investing in property.

No responses yet