How To Avoid The ‘Lifestyle Creep’

Ever heard of the term called ‘lifestyle creep’? It’s a pernicious little phenomenon which keeps millions of people all over the world from achieving their true long term wealth creation potential. If your lifestyle ‘creeps’ up over time, negating the positive impact that your increased income should ideally have on your net-worth, you’re a victim as well. Here are three simple ways in which you can buck the trend and avoid falling prey to this all too common malady. SIP away at your goals The seemingly simple act of writing…

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A financial planner explains why ‘lifestyle creep’ is such a huge problem for people in their 30s

As you enter your 30s and begin to consider marriage, buying a home, or having a kid, it’s more important than ever to get your financial house in order. But as your friends (and foes) begin reaching these milestones, it can be tempting to try and keep up, even if you know you can’t afford it or their goals don’t align with yours. “[S]ometimes that becomes harder in your 30s and 40s when you see all your friends buying a nicer house or nice car, and you start thinking, ‘Well…

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