How to fend off ‘lifestyle creep’ as you start to make more money (By Joel Kranc on

Lifestyle creep

Did you ever get a raise, bonus or tax refund, and at the end of the year you have no idea where it went?

“Lifestyle creep” happens to most of us. It’s so easy to add a bit to your lifestyle every year without even realizing it, especially if your income rises.

Lifetsyle creep is a problem because:

  • It eats up your raises and your extra cash.
  • You get used to a lifestyle that you can’t sustain, because it is not part of your retirement plan.
  • It’s one of the main reasons most people have to make a big cut in their lifestyle when they retire.

There is a solution. Review your cash flow and retirement plan every year. Make a conscious decision to let them both creep up together.

I was recently interviewed by Joel Kranc, who has written an excellent article on this topic. Read it here:

How to fend off ‘lifestyle creep’ as you start to make more money



Planning With Ed


Ed Rempel has helped thousands of Canadians become financially secure. He is a fee-for-service financial planner, tax  accountant, expert in many tax & investment strategies, and a popular and passionate blogger.

Ed has a unique understanding of how to be successful financially based on extensive real-life experience, having written nearly 1,000 comprehensive personal financial plans.

The “Planning with Ed” experience is about your life, not just money. Your Financial Plan is the GPS for your life.

Get your plan! Become financially secure and free to live the life you want.

Leave a Comment