What does the term "Lifestyle Inflation" mean to you?

What does the term "Lifestyle Inflation" mean to you?

Lifestyle inflation tends to become greater every time an individual gets a raise and can make it difficult to get out of debt, save for retirement, or meet other big picture financial goals. Lifestyle inflation is what causes people to get stuck in a cycle of living paycheck to paycheck where they have just enough money to pay the bills every month.

Inflation, on one hand, is the general increase in prices and on the other hand decline in purchasing power as well. So I think lifestyle Inflation means the Increased cost of Living resulting in decreased buying capacity. (ability to afford).

Lifestyle inflation means you are improving your lifestyle by progressing in your earnings but still not able to have any bank balance, net worth or savings , assets

Comments

Post a Comment

Popular posts from this blog

What are you buying when you buy shares in a company?

  What are you buying when you buy shares in a company? | Morrisons is a pretty boring company, a local supermarket chain. No exciting tech in sight but I bought some stock as a recovery play after they were battered during Covid. The price was at a low and they pay a modest dividend so it was a fairly safe long term investment. This morning I wake up and learn that someone wants to buy the whole company at a 30% premium above the closing price on Friday. The board have declined the offer as being too low and there may be a counter offer or there may not. If there is a counter offer that the board consider as reasonable then all shareholders will be asked to vote if they want to accept it or not. So people who ask what you actually own when you buy shares in a company, the answer is that you own a tiny piece of the building, you own some stock on the shelves, you own a piece of the cash on the balance sheet and you have a right to some of the future earnings of the business. Altoge...
Read more

Healthcare Assistant job Duties and responsibilities

Image
Duties and responsibilities ROLE DEFINITION: Working under the direct supervision of the Senior Practice Nurse and strictly in accordance with specific practice guidelines and protocols, the Healthcare Assistant will assist the practice clinical team in the provision and delivery of prescribed programmes of patient care.  MAIN DUTIES AND RESPONSIBILITIES:     Assist in and perform routine tasks related to patient care as directed by GPs     Simple wound care     Removal of sutures     New Patient Medicals/Urinalysis     Phlebotomy / INRstar     Administering immunisations under PSDs     Chaperoning and assisting patients where appropriate who are being examined by another clinician     Assist nurses with chronic disease management     Following agreed clinical protocols with referral to GPs as appropriate     At all times there will be a need to maintain accurate records   ...
Read more

Types Of Income

  Types Of Income | - Linear Income Linear income is when we trade time for money and is also known as earned income. The idea is that you put in hours to create value and you get paid in return for that value. The more value you can create in your hour the more valuable it is, the more you get paid. When you run out of hours in the day, you have to create more value (upskill) to increase your income because you can't create more hours. If you stop working you also stop earning and typically, as our mental and physical ability diminishes due to illness or age, our linear income also decreases. In other words, you are the Golden Goose, as long as you keep laying eggs you will earn a living and in many cases a very good living. There are some benefits to linear income, there are no capital requirements to start earning, there is minimal risk and for some people, a job suits their temperament and lifestyle. - Leveraged Income Unlike linear income, in leveraged income, our time is d...
Read more