Money
What Is Lifestyle Creep?
Lifestyle creep is when your income goes up and your spending creeps right up to meet it. Here's why it's dangerous—and how can you fight it!
Rachel Cruze
Today's Task:
Log in to your bank account and add up your lifestyle expenses from last month. Record the total in your current EveryDollar budget.
Now we’re getting into the nitty-gritty: your lifestyle expenses! So many extra purchases and impulse buys sneak into this category, so there’s a ton of potential for savings here.
Here's a list of typical lifestyle expenses to get you started:
- Entertainment (movies, games, concerts, etc.)
- Clothing
- Hair, nails and personal care
- Subscriptions (Hulu, Netflix, etc.)
- Gym memberships
- Home decor
Think of every lifestyle expense you can and add it to this list.
Then, just like you did with food, get a clear picture of how much you spent on lifestyle expenses last month by logging in to your bank account and totaling up those numbers. Be sure to plug the numbers into this month’s EveryDollar budget.
Tomorrow, I’ll show you some simple ways to find extra money in these categories, so stay tuned! 🎉
Rachel Cruze
Money
Average American’s Monthly Expenses by Category
See how much the average American spends each month—and how your own spending stacks up.
Ramsey Solutions
Money
Monthly Expenses to Include in Your Budget
Whether you’re making your first budget or you just want to make sure you’re not forgetting anything, here’s a list of 51 monthly expenses to include in your budget.
Rachel Cruze
Ask Ramsey, Get Advice
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