Doubling Down

This is the type of trial that seems to go unnoticed at first. I am paying closer attention to my finances than I normally, but overall not much change. In the end, I think saving every dollar I spend will help with my goal out of this trial, preventing lifestyle creep.

What’s Measured is Managed

There is a trend of tracking lately, and it’s been some time since I took a close look at my spending. Keeping track of purchases has been simple enough. I’m keeping a spreadsheet with the list. At this point, with a well stocked grocery run, a few meals out, and a few treats, I’ve invested around $270. My plan is to apply the savings about once a week or so, rather than after each purchase.

I haven’t had much for purchases yet, though I did treat myself to a new pair of sunglasses I’ve wanted. Admittedly, I’m also looking to buy a new watch, but for better or worse, it’s sold out currently. There are some other items I’ve considered, but am holding off for now.

I’m excited to see what the final spending turns out to be. While I expect there to be some irregular purchases, the results should give me a new baseline of expectations for monthly expenses.

What is Lifestyle Creep?

For the most part, I maintain a pretty frugal standard of living. There are a few luxuries from time to time, but for the most part, I don’t spend much. Now having opened a large amount of disposable income, I don’t want that influx to crash into my current standard.

Lifestyle creep is that influx. It starts small, the creep element. With more disposable income, more options open up to spend it. If left unchecked, there’s a new standard of living that must be met. It might be expectations for housing, clothes, food, and wherever else your paycheck goes regularly.

Spending more isn’t necessarily bad. The misstep lies in letting that extra money flow somewhere that doesn’t matter.