Why living a humble lifestyle is good
Live below your means and try to figure out ways that you can cover your living expenses with extra income so that you can invest all your primary salary. A minimalist lifestyle is much more rewarding than the standard consumer lifestyle. The more you can save, the more you fund investments and take advantage of compound interest to grow your investments.
This style of living is often referred to as the Spartan lifestyle. Spartans were known for living a minimalist, simple, and frugal lifestyle. They didn't spend money wastefully, ate only what they needed, and kept their bodies fit. Living a Spartan lifestyle will teach you humility and appreciation for simple things.
My father always chose to live a Spartan lifestyle. When we were kids, and he would get behind on his bills, he would sell his car and walk six miles round trip to work for months. When he managed to save enough for another used car, he would buy one. Otherwise, he walked to work or hitched rides, and in Los Angeles that was unusual.
Humble people tend to be better leaders because they are better able to focus on the needs of others versus only focusing on their own needs. For this reason, they tend to be better liked, which helps them to be more effective in their leadership roles. Humble people have a low sense of entitlement, so they don't think they are owed anything. This leads to a less prejudiced view of the world and increased tolerance of people who are different from them. Humble people tend to be more helpful, generous, have better relationships, and be team-oriented versus egotistical people.
My maternal grandfather was a successful gynecologist here in Los Angeles, and my grandmother was paid well for working at a meatpacking startup. Thanks to their hard work, my mom had a very privileged childhood with nannies, new Cadillacs every year, and abundance all around her. She had a childhood full of wealth and comfort.
As a kid, I can remember both of my parents hustling to keep the household going. My older brother Bobby and I used to drink a gallon of milk each at dinner time and milk throughout the day. We even had individual 50-ounce Big Gulp cups from 7-Eleven that we used for drinking milk. One day, I found my mom in the kitchen diluting the gallons of milk with half water, because she didn't have enough money to buy milk for us that week. I remember the sad look on her face as she explained what she was doing and why.
Despite her embarrassment, I had a sense of admiration for her perseverance and ingenuity solving the issues at hand. This taught me to take the initiative to problem-solving, rather than sitting on my hands. This experience, amongst many others, reminded me that I didn't want to live a life of struggle; but that when and if I ever did, there would be no shame in it. No matter who you are or aren't, be humble and remember you are the same as other people. Being humble, helps you stay grounded. When a challenge arises, it'll be easier for you to do what's necessary to be successful instead of having to fight yourself and your ego over whether or not you can engage in or complete activities that others may see as being beneath them. Humility allows for continuous learning.