The Impact of Lifestyle Creep on Your Wealth
If you're like most people, the more you earn the more you spend. That's phenomenon is known as lifestyle creep, or lifestyle inflation, and it's one of the biggest factors that stop most people from growing wealth.
When you can't create a buffer between your income and your spending, you'll find yourself trapped in a paycheck-to-paycheck cycle, dependent on earning more money to maintain your lifestyle.
Living paycheck to paycheck doesn't just happen to people struggling to get by. I've seen people making over $250,000 per year barely keeping up because every penny they earn goes right out the door.
Living Just at Your Means Isn't Enough
If you want to grow significant wealth, . In other words, you need to carefully manage lifestyle creep and keep a big gap between how much
