We see money messages everywhere we go. There are advertisements on streaming services, billboards, in social media, and even podcasts that encourage us to consume and buy more. Buying more increases our lifestyle, not our wealth. How can we see past all of that each day to find our own financial clarity?
Army Veteran and Certified Financial Planner, Christopher Manske shares the common money illusions were are taught that limit our ability to build wealth and encourage lifestyle creep and how to change our mindset and actions to maximize our wealth instead.
In this episode:
- The common "money illusions" that limit our ability to build wealth
- What lifestyle inflation is and how it impacts wealth
- Systemic issues of advisor quotas and their ramifications
- How the Consumer Price Index (CPI) manipulation leads to underestimated inflation
- Why "pay yourself first" is a trick that enables lifestyle creep
- Why a growth mentality is difficult long-term
- How putting money into savings first can pay off
The show notes can be found here: https://laceylangford.com/podcast/avoid-lifestyle-creep
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