"Extravagance is its own destruction."

Extravagance eventually leads to its own downfall because it involves using resources excessively and irresponsibly. It’s like when you splurge money on things you don’t really need, only to find yourself broke later on. This idea is simple: going overboard with anything—whether it's spending, partying, or even working—can have negative consequences.

Think of the Roaring Twenties, that era of jazz, flapper dresses, and overall excess. People were living large, with lavish parties and spending money like there was no tomorrow. But we all know what happened next—the Great Depression. The stock market crashed, and those who had been living extravagantly suddenly found themselves without anything. Their lavish lifestyles couldn't be sustained, and ultimately, it led to economic ruin.

Take the example of a young professional who just landed his first big job. He's earning a decent salary and decides to treat himself. So, he buys a fancy car, rents an expensive apartment, and indulges in fine dining every night. At first, it’s fantastic; he feels like he’s living the dream. But soon, he realizes he's barely able to keep up with his bills. His savings start to dwindle, and before long, he’s drowning in debt. That initial thrill of extravagance brought him nothing but stress and financial instability.

So, what can you do to avoid this pitfall of extravagance? First off, live within your means. It sounds obvious, but it’s easy to get caught up in the moment and make impulsive decisions. Set a budget and stick to it. Prioritize your needs over your wants—sure, a luxury item might seem alluring, but think about whether it's really necessary. Save for the future, because you never know when you might need those funds for something important.

Let me share a story. Imagine you're planning a wedding. You've dreamed of this day forever and want everything to be perfect. You start with a sensible budget, but as you go along, you’re tempted to upgrade—fancier flowers, a designer dress, a gourmet menu. The costs snowball, and before you know it, you're spending way more than you planned. The day is beautiful, but afterward, you're faced with hefty bills that take years to pay off. If you had stuck to your initial budget, you'd still have a wonderful wedding without the financial stress.

The key takeaway? Extravagance might seem appealing, but it’s often short-lived. Think long-term and avoid the trap of all-consuming splendor. Be mindful of your choices and always consider the future consequences. Living extravagantly can provide temporary happiness, but it’s rarely sustainable and can lead to more harm than good. So next time you’re tempted to go all out, ask yourself—is it really worth it? Embrace moderation, and you’ll find that steady, mindful living will lead to lasting contentment.