Are You Stuck In Lifestyle Creep?

She Means Profit

“By closely examining your spending habits, you can ensure that you’re living within your means — and staying on track with your financial goals!”

— Melissa Houston

What’s the most subtle, quiet, and insidious threat to your personal wealth? Lifestyle creep.

Lifestyle creep (also known as creeping consumption) refers to a gradual increase in your standard of living. It doesn’t have to be as drastic as moving to a larger house or condo! Lifestyle creep can include going on shopping sprees, eating out more frequently, indulging in more expensive brands, travelling more often, and more. These “small” regular expenses add up over time, and can sabotage your long-term financial goals.

People often fall into lifestyle creep after receiving a promotion, scaling up their business, or receiving an inheritance, but just as often it is fuelled by credit. As our income and credit limits grow, it can feel easy to justify these additional expenses — but if you’re spending your money (or, worse, creating more debt) on things that aren’t investments, you’re not building your wealth.

There’s nothing wrong with enjoying the fruits of your labour, as long as you’re smart and mindful about it!

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

• The financial and psychological effects of lifestyle creep — and how it can become a self-fuelling cycle
• Proven strategies that will help to reduce your risk of lifestyle creep
• My personal lifestyle creep story — and what I learned from it

Highlights:‌ ‌

00:50 Intro

01:40 Welcome Daisy!

02:47 Effects of lifestyle creep & my story

04:52 Revenue & expenses

06:35 Reinvesting v. eroding your savings

08:01 Credit card fees & spoiled retirement plans

10:07 Strategies for avoiding lifestyle creep

11:10 Monitor your spending habits

12:03 Save money automatically

12:43 Create a realistic budget

13:18 Mindfulness & money mindset

15:45 Cash reserves & downturns

Links:‌

5-STEP PROFIT ROADMAP-https://melissahoustoncpa.lpages.co/5-step-biz-finance-roadmap/

She Means Profit - How to Get the Mindset of a Millionaire

She Means Profit - Misconceptions, Manifestation & Money Mindset

She Means Profit - Why Money Mindset Really Matters For Profit And Life Goals

Link to calendar (free 30 min consult call)

Main website 🡪 https://shemeansprofit.com

Offers 🡪 https://shemeansprofit.com/offers

Cash Confident Course 🡪 https://melissahoustoncpa.lpages.co/cash-confident-sales-page

What’s Your Profit Personality? (quiz) 🡪 https://www.tryinteract.com/share/quiz/62ddb2293d71af001892a3a9

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