10 Hidden Signs Your Lifestyle Costs Are Rising: Insights from a Money Coach

When you land a promotion or a better-paying job, it’s tempting to start spending more. This is known as lifestyle creep. You might think you can treat yourself, but soon enough, you’re overspending and sinking into debt without even realizing it. What used to be a luxury can start feeling like a need.

Vee, a money mindset coach with two decades of experience, points out that lifestyle creep is often subtle and can sneak up on you. She warns that being aware of the signs is crucial in maintaining a healthy financial situation. Here are ten signs that your spending may be getting out of hand:

10 Signs of Lifestyle Creep

1. Only Buying Name-Brand Groceries

If you’re only purchasing name-brand items, you might be overspending. Generic brands can save you about 40% on your grocery bill. They often offer the same quality at a lower price, so refusing to consider them could be a sign of lifestyle creep.

2. Paying Full Price for Clothes

With clothing prices rising, it’s wise to look for sales. If you habitually pay full price for clothes or other items you would normally wait to purchase when on sale, this might indicate lifestyle creep.

3. Frequent Upgrades of Electronics

Do you find yourself replacing your gadgets just because you can? If you’re upgrading your phone every year instead of waiting a couple of years, it’s time to rethink this habit. Just because you can afford it doesn’t mean you need it.

4. Regular Weekend Getaways

Weekend trips can satisfy your desire for a vacation, but if they become routine, your budget might be feeling the impact. If you’re traveling often without considering costs, that’s a telltale sign.

5. Overspending on Convenience Services

Services like Uber Eats or grocery delivery can make life easier, but they can also drain your bank account quickly. If you find yourself paying extra just for convenience, this might be a sign of lifestyle creep.

6. Not Bringing Lunch to Work

Buying lunch every day can quickly add up. Packing your own meals can save you a substantial amount over time. If you’re scoffing at the idea of meal prep and buying lunch every day instead, it might be time to rethink your choices.

7. Frequent Food Deliveries

Using delivery apps often can lead to hefty bills, sometimes up to 91% more than dining in. If getting food delivered has become your norm, it may be a sign of lifestyle creep.

8. Agreeing to Costly Outings

Automatically saying yes to expensive social events without questioning if you really want to attend can lead to overspending. Take a moment to consider if these outings truly bring you joy or are worth the cost.

9. Not Keeping a Budget

Just because you have a higher income doesn’t mean you should discard your budget. It’s essential to track your spending and savings. If you’ve stopped budgeting altogether, you might be at risk of lifestyle creep.

10. No Research Before Spending

If you’re skipping price comparisons and impulse buying, it’s time to slow down. Creating a “buy list” can help you weigh your desires against your spending habits. This wait-and-see approach gives you time to decide if a purchase is really worth it.

Nonetheless, not all upgrades to your lifestyle are bad. If you’re still saving money—more than before your pay increase—you can enjoy some treats, just remember to practice moderation.