41. Lifestyle Creep

<p>Lifestyle creep: the tendency to continue increasing your spending as your income grows.&nbsp;</p> <p><br></p> <p>A higher income is often accompanied by more spending. Typically, the majority of the increased spending is on non-essential items (eating out, entertainment, activities, shopping, travel, household amenities, etc.). Over time, these luxuries come to be seen as essential to your way of life. If/when income decreases (such as in retirement) it can be very difficult to adjust.&nbsp;</p> <p><br></p> <p>In this episode, we'll talk about how to recognize lifestyle creep, and we'll offer 5 tools to fight the pull of lifestyle creep in your own finances.&nbsp;</p> <p><br></p> <p>Email: info@nateskelly.com</p> <p>Website: https://www.nateskelly.com</p> <p>Facebook: https://www.facebook.com/financialpathwayllc</p>