What is Lifestyle Creep? If you’re not familiar with “lifestyle creep”, here is my official definition: Lifestyle Creep (ˈlīfˌstīl krēp), noun: the very real, very unnecessary, and very self-defeating personal finance phenomenon of increasing one’s lifestyle spending as a direct correlation to an increase in one’s income over time. With lifestyle creep, your spend rises as, one-by-one, purchases once considered as luxuries to an individual have a way of slowly but surely being redefined as necessities. Buttered toast seems great until you meet avocado toast...
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[Read the rest of the story at 20somethingfinance.com]