Lifestyle Creep (Why 80% Of Millennials Are BROKE!)
Lifestyle Creep is the #1 thing that will keep you broke and kill your chances of achieving freedom.
This is also known as lifestyle inflation and it's a problem that affects just about everybody in the world because the root of the problem is embedded in our DNA.
Our modern consumer society has not helped with this either. It started as "keeping up with the joneses" and now it's like that but on steroids (More like Kepping up with the kardashians at this point).
People are spending more on things that they don't need. Movements have been popping up like minimalism, FIRE movement, frugal living etc that employ budgeting, personal finance, essentialism, spending less, making more, saving money investing and much more and people are starting to become aware of the trap that we've gotten ourselves into
Millennials specifically are effected by this problem. So I was doing some intense research on how to get people to smash that like button and stumbled upon a survey by careerbuilder that shows that 78% of workers in the US live paycheck to paycheck.
This blew my mind, this means that over half of americans that are making more than the median household income in the US are still living paycheck to paycheck. How can this be when the average household income worldwide is less than 20,000 a year?