A rat race is a term used for an endless, self-defeating or pointless pursuit.
Definitions:
Fierce competition to maintain or improve one’s position in the workplace or social life. For example, You may not realize what a rat race it is to get research grants. This term presumably alludes to the rat’s desperate struggle for survival.(The [...]
Live below your means. Most people mistakenly think they understand what it is to live below their means. Most of people prepare budget on monthly basis i.e. whatever they receive income, they use for entire amount for that particular month only. By the end of month nothing remains in hand, again they start spending when [...]
Delayed gratification is the ability to wait in order to obtain something that one wants. This ability is usually considered to be a personality trait which is important for life success. People who lack this trait are said to need instant gratification and may suffer from poor impulse control.
Michael Mischel conducted experiment in 1960’s with [...]
A situation that describes a person who spends a large proportion of his or her total income on home ownership, including mortgage payments, property taxes, maintenance and utilities. House poor individuals are short of cash for discretionary items and tend to have trouble meeting other financial obligations like vehicle payments.
People typically become house poor because [...]