On this episode of the personal finance podcast, we're going to talk about lifestyle creep and how to prevent it. What is up everybody and welcome to the personal finance podcast.

I'm your host Andrew, founder of Dollar After Dollar.com and today we're going to be talking about one of the biggest problems

and one of the biggest things that people fall into with their finance and that is

lifestyle creep.

And you may have heard of lifestyle creep and some people call it lifestyle inflation,

but it's a silent thief and it is the biggest problem with your money.

And if you're not careful about controlling lifestyle

creep, it can completely destroy your finances. It's the main reason why high income earners

still live paycheck to paycheck. You can think about athletes who've made

hundreds of millions of dollars who go completely broke because they're human just

like us and they've allowed their lifestyle to creep up slowly over time and they don't realize that their lifestyle is creeping up.

They grew up maybe in a middle class situation and as they made a little bit more money

than they started to purchase a little more and get used to that lifestyle.

It just crept up slowly more and more and more.

And a lot of people who fall victim to lifestyle creep actually think they're successful.

They actually think that other people also think they're

successful they have a nice car they have a big house they go on exotic vacations but if all

your money goes out the window you'll never build true wealth and you're robbing yourself of your freedom.

That's the biggest thing that you're losing when you allow lifestyle creep to set in,

as you're losing your freedom. The trick to this is to recognize lifestyle creep before it starts.

And that is the biggest key.

You have to stop lifestyle creep in its tracks.

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