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Lifestyle inflation – inflating your spending

Lifestyle inflation – inflating your spending

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I always wanted to know if there was a term that describes the more money you make the more you spend. I recently found out that term is called lifestyle inflation. According to Investopedia, “lifestyle inflation refers to an increase in spending when an individual’s income goes up. Lifestyle inflation tends to become greater every time an individual gets a raise and can make it difficult to get out of debt, save for retirement, or meet other big-picture financial goals. Lifestyle…

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Being healthy saves money

Being healthy saves money

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How much money do you spend on healthcare? Not just for your insurance but also any out of pocket expenses that you owe like co-pay. Do you visit the doctors often, take multiple medications, and see specialists? An apple a day keeps the doctor away. A long time saying that we all probably have heard and very much true to the point that the healthier you are, the less you see a doctor. Do you realize the more you see…

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Get on the same page

Get on the same page

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No one ever intends to break up, split up, or divorce. There are a number of reasons why couples do though and one of those reasons is because of finances. Before I got married, my wife and I talked about finances. I considered myself someone who had a good grasp of financials. My wife was an accountant and was very good with money. Luckily, from the very beginning we were on the same page financially. We both had careers; we…

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Got extra cash? What’s your first action?

Got extra cash? What’s your first action?

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You can learn a lot about a person by seeing what they do with extra cash they come across. I wrote that there are three things you can do with your extra cash: spend it, save it, or invest it. I’ve used a tactic that has been working well for me and my family when I come across extra cash. That tactic is live like you didn’t have it. When you are serious about trying to achieve financial independence, financial…

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