Don't get caught up in lifestyle inflation from "summary" of The Barefoot Investor by Scott Pape
One of the biggest traps that people fall into is lifestyle inflation. You know what I'm talking about - you get a pay rise, and suddenly you're upgrading your car, buying the latest gadgets, and dining out at fancy restaurants every week. It's a slippery slope, my friend. Before you know it, you're living paycheck to paycheck, with zero savings to fall back on. Don't get me wrong, it's natural to want to treat yourself after working hard and earning more money. But if you let lifestyle inflation get out of control, you'll never get ahead financially. You'll be stuck on a hamster wheel, always chasing the next big thing without ever feeling satisfied. The key is to be intentional about how you...
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