Frugality vs Life
So I struggle with this mind set constantly of trying to be fairly frugal and just living life. I had a rough start from college and literally had to drain my bank account trying to support myself to get in to IB (literally I didn't know where rent was coming from some months). In 2020 I finished paying off all my student loans. I work at a solid shop in a regional office and making really good money now.
The thing I struggle with is that I am starting to get tried of living so frugally. I have some concerns that I could always just squeeze one more year out of my car that has 200K+ miles and no AC or I can do one more year living in my apartment with 2 roommates. But I also fear that by not continuing to save money I will allow for to much lifestyle creep.
My total spending is usually around 38K a year (including rent), so I am saving about 50% of my post tax income (30% pre tax) and my entire bonus (which probably pushes my savings above 60% post tax).
I have recently been looking at new cars and would really like one, and quite frankly with the used car market so hot, I think it actually makes sense to buy new. The car I have in mind is a mid sized truck (I think it would be really good for all the activities I like to do, my current car is starting to run out of steam). I would also like to buy a house in the next two years (very doable with where I am and If I keep saving). If I had a house I would probably rent out rooms until I had a significant other ( most likely to my brother who would just be graduating college around then).
I guess all I am asking is am I thinking about the new car and saving for a house correctly? Or is that allowing to much Lifestyle creep?
I am going to get the car and just start saving aggressively for a larger downpayment. I figure even with a car payment I will be able to save about 40% of income and then also save my entire bonus which will put my in line with my goals for getting a house in 2-3 years.