Simone Biles, the celebrated gymnast, recently sparked a conversation with her viral TikTok about a jaw-dropping $22,000 bill. This hefty amount was for hair, makeup, and styling at a red carpet event. In her video, Simone humorously declared, “If that’s the new norm, y’all can have it. Y’all will never see me at another event.”
She wasn’t just venting; she was genuinely curious. “I just need to know if this is normal,” she asked her followers, inviting their thoughts and experiences. Her reaction struck a chord with many, highlighting a common struggle for those with higher incomes: navigating the rising costs of living.
Understanding Lifestyle Creep
This phenomenon, often referred to as lifestyle creep, occurs when spending rises as income increases. It can happen gradually without us even noticing. Promotions might lead to nicer apartments, bonuses could fund new cars, or extra cash may drift into subscriptions and dining out.
Recent data backs this up. In 2024, a Federal Reserve survey revealed that while 32% of adults saw their monthly income rise, 37% reported increased spending—a trend that’s been consistent for three years. Additionally, in 2026, the average personal savings rate for Americans fell to 3.6%, down from 5.1% in early 2025. Shockingly, nearly one in three six-figure earners reported feeling financially strained, proving that high income doesn’t always shield against financial distress.
Even someone like Biles, with an estimated net worth of $25 million, felt the impact of lifestyle inflation. It serves as a reminder that just because someone is financially well-off doesn’t mean they’re immune to rising expenses.
The Importance of Mindful Spending
Simone ended her TikTok by joking she might stay “right here where it’s free,” which reflects a desire to be more cautious with her spending. It’s crucial for everyone, regardless of income, to take a closer look at their financial habits.
Here are some strategies to combat lifestyle creep:
Set a ‘Raise Rule’: When you earn more, decide how to split it between savings and spending. For instance, consider saving 50% of any raise.
Watch Fixed Costs: Be mindful of ongoing expenses like subscriptions, rent, or car payments. These can significantly affect your budget over time.
Identify Hidden Costs: Some new expenses aren’t obvious at first. Upgrading your car might increase insurance, or moving to a fancier neighborhood could bring higher taxes.
Save Unexpected Windfalls: Treat bonuses and gifts as opportunities to save rather than spend.
Conduct a Spending Audit: Review your past few months of expenses. Are you spending more in areas that truly matter to you?
Biles’ experience reminds us that anyone can feel the pressure of lifestyle choices, regardless of their financial status. The key is to be intentional about spending and to ensure your money aligns with your values. By keeping an eye on lifestyle creep, you can maintain a healthy balance between enjoying life and securing your financial future.
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Simone Biles, Robert Kiyosaki, Dave Ramsey, red carpet event, creep, Federal Reserve
