SMS 183 – Avoid Lifestyle Inflation…….Until When?

Avoid Lifestyle Inflation…….Until When? 

What is lifestyle inflation? 

The Problem with lifestyle inflation: 

  1. It happens gradually 
  2. It can impact your future goals 
  3. The new normal will become normal 
  4. Undoing lifestyle inflation is painful 

How to Avoid Lifestyle inflation: 

  1. Avoid comparisons – you have different goals 
  2. Have a documented plan – this will remind you why you are doing this 
  3. Associate with like-minded people – people can drag you down or pull you up 
  4. Focus on percentages not absolute dollars 
  5. Embrace the process……of building wealth 

Avoid Lifestyle Inflation…….Until When? 

  1. When you have a positive net worth you can start 
  2. When the math says you can 
  3. Do you really need to…..in every aspect of your life 
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