What is Lifestyle Inflation? It’s the tendency to spend more as your income increases, leading to the purchase of more expensive items and becoming more brand-conscious.
But what if, instead, you maintained your current lifestyle as your income grew? What if you chose to invest more or diversify your assets? I always say that it doesn't matter what you make; it’s what you do with what you make.
By having a clear vision linked to specific goals with actionable steps, you can stay focused and reduce the temptation of Lifestyle Inflation.
Dr. Doreen Carter
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