Lifestyle inflation is the enemy of wealth building – as your income grows, resist the urge to increase your spending proportionally.
It’s natural to want nicer things when you can afford them, but upgrading everything keeps you on the financial treadmill.
When you get a raise, direct at least half of the increase toward savings and investments.
You’ll still improve your lifestyle while building wealth for the future.
Be especially careful about increasing fixed expenses like housing, car payments, and subscriptions.
These ongoing commitments are harder to reduce later if your financial situation changes.
The people who build real wealth often live modestly despite having high incomes.
