By exact definition, lifestyle inflation is increasing one's spending due to the increase in their income.
Most are not able to retire comfortably & suffer from multitude of financial issues such as financial stress & hardships. Here are ways to help curb lifestyle inflation.
Call it reverse budgeting, pay yourself first, or just saving money – at the end of the day if you want to stop lifestyle inflation, save at least 15% of your income.
It is a natural human tendency to compare ourselves to others. We find ourselves saying things like, “I wish I was as,” and insert whatever comes next.