What luxury means?

Frugality can get you far, but you shouldn't feel guilty for indulging in a luxury that actually improves your life. However, you have to define what "luxury" means to you. Nobody else can do that.

Let's get one thing clear: Luxury doesn't have to mean a $50, 000 dog house or a gaudy fur coat. YOU choose what luxury means to you.

I might think it's insane, your college friend might think it's insane, but if you're getting superlative value from it, that's luxury.

Instead of being dismissive of all luxuries (like I used to be), I decided to learn about the reasons behind why people pursue more, even when others might find it ridiculous or frivolous.

Luxury can be functional. (Sethi gives the example of flying first class—sure, it costs more, but if you can sleep a full 6 hours and go to a meeting, it might be worthwhile.) Luxury can be economical, too—that pair of shoes that costs more will probably last you a lot longer, and save you money in the long run.