Overrated: Buying new stuff
Overrated: Buying new stuff.
Underrated: Maintaining your stuff so well that it continues to feel new, so you don't have a big desire to upgrade.
Example: I'm impressed when someone has owned a car for many years, but it still looks new.
Doing so infers an ability to do one or more of these things:
1. Delay gratification
2. Live beneath your means
3. Carefully maintain what you own
All 3 are hard, but pay big dividends.
"Trading up" is expensive.
Sales tax
Higher property tax
Higher insurance
Financing costs
Steeper depreciation curve <-HUGE "hidden" cost
etc.
So I strive to keep my current car in good shape. This way I don't feel like I need an upgrade.