Are you making more money but somehow ending up with less of it? If so, you might be falling prey to lifestyle creep, a financial pitfall where earning more money can actually make it easier to spend more, save less, and become financially stretched. From upgrading your home and car to eating out more, taking expensive vacations, and increasing everyday spending, lifestyle inflation can happen so gradually that you may not even realize you're falling into the trap.

 

In this episode, we're discussing practical strategies for avoiding lifestyle creep, including how to recognize the warning signs, and controlling spending as your income increases so that making more money doesn't make you broke.

 

·      The Stealth Cost Of Success (1:30)

·      Contentment Vs Complacency (4:15)

·      What Is Status Signaling (7:45)

·      Find What You Truly Value (14:15)

·      When In Doubt Take A Spending Break (20:15)

 

Listen Now!

 

To schedule your complimentary retirement track review, head to https://onecapital.com. You can also call us at 805-409-8150

 

To supersize your Mindset experience and see our lovely faces and all the cool charts and graphs we use subscribe to our YouTube Channel here: Mindset with Brad Barrett

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