Are You Able To Avoid Lifestyle Creep?
Earning more money does not mean spending more
It is not necessary to spend all you earn.
One of the best ways to have enough money in this life is to spend below your means. If you plan to save some money each month for an emergency fund and for retirement, you will be better off in the long run.
Too many people spend more than they earn because using credit cards and spending are so easy. If that is a practice, then having financial freedom may be difficult to attain.
There is such a thing called “lifestyle creep.” It is the tendency to spend more as you earn more. When a raise or bonus is given, it is natural to spend that money quickly. Expenses may rise to meet the additional income.
The wiser choice is to avoid lifestyle creep by using the larger paychecks or extra money to save for the future.
Pinching pennies may not be comfortable, and having extra money on hand could make life seem easier. People can convince themselves that they need or deserve nicer things or a better…
