Evolving Personal Finance » lifestyle creep
Lifestyle Inflation: Ubering to the Airport
I realized last month that Uber has become my default mode of transit to and from the airport – to the point that it doesn’t even cross my mind that there are other possibilities! Confession: We spent $175.64 getting to and from the airport last month (4 rides), which is as much as we spent on one plane ticket! I can’t believe I’ve let my lifestyle inflate to this degree – I’m so embarrassed! This lifestyle … Read entire article »
Filed under: lifestyle creep, travel
Lifestyle Increase vs. Lifestyle Inflation: Ikea Furniture
For the last couple years around the personal finance blogosphere, I’ve been emphasizing the difference between lifestyle inflation and deliberate lifestyle increase. Lifestyle inflation has a terrible reputation in our community – deservedly so – but as a person who wants to life a higher lifestyle than she has in the past (unlike some others!), I felt it important that not all increased spending is painted with the same brush. Lifestyle inflation is the mindless process … Read entire article »
Filed under: lifestyle creep
The Danger of Side Hustle Income
If you’ve spent any time in the PF blogosphere, you’ve picked up on our preoccupation with bringing in extra income through “side hustles.” Even Kyle and I, who aren’t allowed outside jobs, have found ourselves swept into this mania. I now refer to Kyle’s almost-volunteer super-part-time weekend job running the sound board during some services at our church as a side hustle. Certainly the bit of money we bring in through this blog can be … Read entire article »
Filed under: books, income, lifestyle creep, psychology
Who Is the Accountability Partner for What?
I had an interesting conversation with a couple of my FPU students a couple weeks ago. I was telling them about how much I like Republic Wireless and they asked if I am planning to upgrade my phone when they release the new one. I said that Kyle has been pushing me to upgrade but that I didn’t see the need – to me upgrading a functional smartphone after only one year of use seems … Read entire article »
Filed under: lifestyle creep, marriage, spending
Needs Becoming Wants: My Weekend Without
This weekend Kyle attended his departmental retreat a few hours away from Friday afternoon to Sunday afternoon. He took our car and my cell phone with him so this whole weekend I have been without fairly basic “needs.” Kyle tried to find a ride to his retreat, but since he was actually attending two retreats in the same city he needed to be able to get back and forth and the other people attending both weren’t … Read entire article »
Filed under: lifestyle creep
The Fact and Fiction Behind “Two Can Live as Cheaply as One”
Everyone’s heard the phrase “two can live as cheaply as one.” In one sense it’s absolutely true: when you live in a home by yourself and someone moves in with you – a roommate or spouse who pays his own way – your per capita expenses will go down. You have someone to split the rent and utilities with. But the way the phrase is usually applied is to married couples – as if just … Read entire article »
Filed under: budgeting, choices, frugality, goals, lifestyle creep, marriage, spending
What is Lifestyle Creep?
… It’s the big enemy I’m watching out for! Investopedia gives us a succinct answer. Lifesyle creep is A situation where people’s lifestyle or standard of living improves as their discretionary income rises either through an increase in income or decrease in costs. As lifestyle creep occurs, and more money is spent on lifestyle, former luxuries are now considered necessities. My husband and I have remarked to one another many times that we are happy with our current standard of living. … Read entire article »
Filed under: lifestyle creep
Recent Comments
- Adam on Home Equity Is Funny Money
"Hi Emily - I just stumbled upon your blog. Great post! Up in Canada this is a…" - Emily on Home Equity Is Funny Money
"I agree that an appraisal is the best number to work with. I can't think of why …" - JL on Home Equity Is Funny Money
"I only note it as round numbers, in $50k or $100k estimates. I also usually upda…" - We Maxed Out All Our Retirement Accounts for the First Time! - Evolving Personal Finance | Evolving Personal Finance on Avoiding an Expensive 401(k) Plan through Self-Employment
"[…] was the first year that we contributed to Kyle’s expensive 401(k…" - Business Goal Tracking for Week 8 of 2022 - Evolving Personal Finance | Evolving Personal Finance on Business Goal Tracking for Week 6 of 2022
"[…] Done as of two weeks ago! […]…"