Julia Carpenter

speaker

3,850 appearances 71 recordings 1 series first heard Oct 2019 last heard Sep 2024

Julia Carpenter’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Knowing Your Numbers Can Lead You to Financial Freedom · 7 Jan 2024 podcast

then you can start feeling good. voice-verified

And I mean you can start feeling good because now you know you have your numbers and you can set your goals. voice-verified

Now that you understand your whole financial picture, you can see what is next on the horizon. voice-verified

WSJ Your Money Briefing · How ‘Lifestyle Creep’ Can Drain Your Bank Account · 2 Jan 2024 podcast

You couldn't tell me how much you spend on that lunch out or you couldn't tell me how much you have allocated to travel or how much you have set aside for certain expenses.

That's when things have gotten maybe a little bit beyond our scope.

That's when you sort of have to rein things in and understand what is this that I can control and what is this that I can't control.

Inflation is to blame.

We're still seeing high prices on everything from gas to groceries to travel and more.

But we're also seeing it come down a little bit.

And that's where people should maybe take a closer look at what expenses are growing because of inflation and what expenses are growing because of lifestyle creep.

Lifestyle creep is something that people can know when they see it, but they don't understand until the number is kind of right in front of them.

And lifestyle creep is this phenomenon by which you're living a little bit beyond your means because your lifestyle has sort of grown beyond your budget.

So the circumstance I always tell people is you start eating out lunch one day a week, and then you start eating out lunch three days a week.

And then before you know it, you're eating out lunch every single day of the week.

And you've gone from getting McDonald's to getting to go sushi.

And then you look at the budget and say, wait, can I actually afford to go sushi seven days a week?

I could only afford that one day a week way back when.

And that's when you sort of realize the toll that lifestyle creep has taken on your budget.

Yes, non-essentials, although sometimes lifestyle creep can happen in something as big as an apartment or as housing.

But most people would see it in terms of the little things that kind of come up in your budget, like what clothes you wear, how you treat yourself.

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