Nicole Lappin

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I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. Today, we're diving into one of the sneakiest villains in our financial world, lifestyle creep or lifestyle inflation. You know the drill. Your paycheck goes up and suddenly so do your expenses.

I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. Today, we're diving into one of the sneakiest villains in our financial world, lifestyle creep or lifestyle inflation. You know the drill. Your paycheck goes up and suddenly so do your expenses.

I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. Today, we're diving into one of the sneakiest villains in our financial world, lifestyle creep or lifestyle inflation. You know the drill. Your paycheck goes up and suddenly so do your expenses.

That bigger paycheck somehow feels like it's not stretching any further and you're wondering why you're still living paycheck to paycheck. Big problemo. But we don't do problemos. We do solutions here on Money Rehab with the help of Bank of America, whom I'm teaming up with for this episode. And today we're not going at it alone.

That bigger paycheck somehow feels like it's not stretching any further and you're wondering why you're still living paycheck to paycheck. Big problemo. But we don't do problemos. We do solutions here on Money Rehab with the help of Bank of America, whom I'm teaming up with for this episode. And today we're not going at it alone.

That bigger paycheck somehow feels like it's not stretching any further and you're wondering why you're still living paycheck to paycheck. Big problemo. But we don't do problemos. We do solutions here on Money Rehab with the help of Bank of America, whom I'm teaming up with for this episode. And today we're not going at it alone.

I've invited one of you, our fabulous listeners, to chat about a recent raise and how to dodge lifestyle creep like the financial pro they're about to become. So let's bring in our guest, Joe. Well, Joe, welcome to Money Rehab.

I've invited one of you, our fabulous listeners, to chat about a recent raise and how to dodge lifestyle creep like the financial pro they're about to become. So let's bring in our guest, Joe. Well, Joe, welcome to Money Rehab.

I've invited one of you, our fabulous listeners, to chat about a recent raise and how to dodge lifestyle creep like the financial pro they're about to become. So let's bring in our guest, Joe. Well, Joe, welcome to Money Rehab.

So you're here because our producer sent out an email about lifestyle creep, the phenomenon when we make more, but we don't keep more. And you responded, hello, that is me. Absolutely. That's right. Okay. So we're stoked to be talking about this. I think it's a really important topic. It's really common and it's extremely figureoutable. Let's try to figure it out together.

So you're here because our producer sent out an email about lifestyle creep, the phenomenon when we make more, but we don't keep more. And you responded, hello, that is me. Absolutely. That's right. Okay. So we're stoked to be talking about this. I think it's a really important topic. It's really common and it's extremely figureoutable. Let's try to figure it out together.

So you're here because our producer sent out an email about lifestyle creep, the phenomenon when we make more, but we don't keep more. And you responded, hello, that is me. Absolutely. That's right. Okay. So we're stoked to be talking about this. I think it's a really important topic. It's really common and it's extremely figureoutable. Let's try to figure it out together.

By definition, as you know, lifestyle group means that over your career, you've been making more money, which is awesome, but you're not saving as much because the nice to have has become the need to have. So can you tell me when your last raise was and how much was that for?

By definition, as you know, lifestyle group means that over your career, you've been making more money, which is awesome, but you're not saving as much because the nice to have has become the need to have. So can you tell me when your last raise was and how much was that for?

By definition, as you know, lifestyle group means that over your career, you've been making more money, which is awesome, but you're not saving as much because the nice to have has become the need to have. So can you tell me when your last raise was and how much was that for?

Great. So my producer said that over the last seven years, you went from making $125,000 to $145,000. So overall a $20,000 jump. Yes. But you haven't seen that $20,000 jump in your savings, right? Not at all. So let's get to the bottom of that. I think this is where a lot of people fall into the lifestyle creep trap. They think, oh, my gosh, 20K more.