#31 – Everything You Need to Know about Lifestyle Inflation
Have you ever moved up the income ladder and increased your income, either through a promotion or a new job? Or by generating more sales in your own business?
I hope you have, as making a bit more money can be very exciting!
And – if you are honest – have you also noticed that after a few months of making more money that you’re not really too sure how you’re actually spending that extra money?
Where is that money going? If it’s not left over at the end of the month or going straight into a savings account, then what is happening with it?
If this sounds familiar then you have likely experienced lifestyle inflation. This is a process in which you (often subconsciously) upgrade your life little by little by paying for a better or newer product or experience than you were willing to pay for before.
Now don’t get me wrong: in my opinion Lifestyle Inflation isn’t necessarily bad! But I do think it’s wise to recognize how you might be experiencing it and to take a more proactive approach towards it, so that you can make sure your money habits are aligned with your short-term and long-term goals.
And that is exactly what this episode of the Financial Harmoney Podcast is all about!
After listening to this episode you’ll know:
- What exactly Lifestyle Inflation is
- How Lifestyle Inflation might be manifested in your life
- Why I personally don’t believe Lifestyle Inflation is bad
- 4 Tips on how to deal with Lifestyle Inflation so that it aligns with your goals and values.
If you’re ready to be a little more deliberate with your money and with future increases in your income, then you don’t want to miss this episode!