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Congratulations, youve gotten a raise!
You might think its time to treat yourself.
Why not get yourself that slick new suit youve been eyeing?
Spend a little more on organic groceries?
After all, youve earned it.
This means avoiding the siren call of lifestyle creep.
Fortunately,avoiding lifestyle creepcan be easier than you think if you follow these five simple rules.
Whatever the goal, youll want to attach a dollar amount to it.
Instead, stick to the budget youve developed after all, its served you well so far.
But do you actually need these things?
Before making any major purchases or taking out a loan, ask yourself if you truly need an upgrade.
But dont just buy themost expensive or popular option.
Do your research, and find the version with the best reviews, proven value, and reasonable prices.
Set Aside Some Money for Fun
All work and no play isnt sustainable.
The daily grind can take its toll if you never allow yourself to indulge in a little fun.
Cut back on the frequency and focus on quality.
Set aside some money for tickets to your favorite teams home games but skip buying unnecessary merchandise.
The goal is to strike a balance between enjoying your hard-earned money while still prioritizing financial discipline.
Automate What you might
If money is idling in your account, its much more tempting to spend it.
Reduce this temptation by automating transfers to savings, retirement accounts, and debt repayments.
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