How Lifestyle Creep Can Derail Your Retirement Plans
If you've ever gotten a promotion or raise, you may have found yourself living large for a while. Maybe that meant eating out more, buying nicer clothes, or upgrading your home. After years of watching your budget, it felt good to let loose and spend.
That's called lifestyle creep. The more you earn, the more your lifestyle expands.
That may be nice for a while. However, if that extra spending means you have less money left to save or invest, or debt begins to pile up as you spend more on extras, lifestyle creep may derail your retirement plans.
Source Fool.com
