Episode 8: Lifestyle Creep
When your earnings increase, your savings should too, but many people opt for increased discretionary spending instead. For this week’s challenge, I want you to think back to the last time you received a pay increase. Did you immediately rework your monthly budget to allocate more of your income to savings? Or, like many people tend to do, did you use your increased income to do something like lease a nicer car or purchase a larger home? If your answer is the latter – increased spending – you may be a victim of Lifestyle Creep. Don’t forget to visit […]
