Categories: Lifestyle

11 Personal Finance Tips For Every Stage of Your Financial Life

Don’t succumb to lifestyle inflation

Another important step in becoming financially comfortable is to increase the amounts you’re saving as your income increases. “Save one-third of every pay raise you get so you don’t succumb to lifestyle inflation,” recommends Ted Jenkin, a certified financial planner.

The earlier you start doing this, the sooner you’ll get used to putting money aside and stop seeing it as a chore. Once you get the hang of it, you’ll turn saving, investing and paying down debts into a habit, to the detriment of spending on things you’ll no longer use in a couple of years. This brings us to our next tip.

See also: How to Prepare Yourself (and Your Finances) for COVID-19 in 2021

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