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cover of episode “Don’t Be a (Lifestyle) Creep! How to Use Your Raise to Build Wealth”

“Don’t Be a (Lifestyle) Creep! How to Use Your Raise to Build Wealth”

2025/5/15
logo of podcast Money Rehab with Nicole Lapin

Money Rehab with Nicole Lapin
AI Deep Dive AI Chapters Transcript
People
J
Jo
N
Nicole Lappin
一位致力于财务教育和媒体的专家，通过多种平台帮助人们提高财务素养。
Topics
Nicole Lappin: 生活方式蔓延是指随着收入增加，支出也随之增长，导致财务状况没有得到改善。很多人会因为加薪而升级住房或购买新车，从而陷入这种陷阱。为了避免这种情况，应该制定合理的预算计划，将新增收入按照50-30-20的比例分配，即50%用于必需品，30%用于娱乐，20%用于储蓄和投资。此外，还应该关注债务利率，如果投资回报低于债务利率，那么实际上是在亏损。最重要的是，要自动化一切，设置一次后就不用管了，定期检查并根据实际情况进行调整，确保退休储蓄目标能够实现。我建议Jo制定支出计划，增加401k和高收益储蓄账户的投入，并定期更新财务跟踪，以保持进度。 Jo: 我承认自己陷入了生活方式蔓延的陷阱，随着收入的增加，我的支出也在逐年增加，包括购买新衣服和迪士尼乐园年票等。我为公司做预算，但不为自己做预算，因为工作后感到疲惫。我需要想办法实现更高的储蓄比例，因为我需要弥补之前的不足。下一步计划是先制定支出计划，然后增加401k和高收益储蓄账户的投入。我意识到如果想要改变，就必须努力，制定整体支出计划让我感到充满希望。

Deep Dive

Chapters
This chapter explores the concept of lifestyle creep, where increased income leads to increased spending, preventing savings growth. It introduces Joe, who despite a significant pay raise, hasn't seen a corresponding increase in savings. We delve into the reasons behind this, exploring how lifestyle creep manifests in everyday spending.
  • Lifestyle creep: increased income, increased spending, no savings growth
  • Joe's situation: $20,000 pay raise over 7 years, no increase in savings
  • Causes: upgrading lifestyle (house, car, etc.), inflation

Shownotes Transcript

A raise is cause for celebration, but if you’re not careful, it can also lead to lifestyle creep—a sneaky culprit that keeps you living paycheck to paycheck, even with a bigger paycheck. Today, Nicole helps a Money Rehabber design a game plan to maximize their raise, pay down debt, and hit their financial goals without falling into the lifestyle creep trap.

If you’re ready to automate your budget, boost your savings, and stay on track, Bank of America has the tools to help. Learn more at bofa.com/FinancialNextSteps).