Don’t let Lifestyle Creep get the best of you in Austin. It is everywhere and everyone is doing it!
Lifestyle Creep is not the cranky guy in the office who thinks Austin was a better city without smart phones. It occurs when someone gets a financial boost, such as a new job, a promotion or a raise, and end up thinking their increased income means they can increase their spending.
For only $149, Capital Budget Strategies, Austin’s best Financial Coach, can help you control Lifestyle Creep. In about 4 hours, we will work out the numbers of your new job and help you set up an Emergency Fund, a household budget and a Snowball Debt Repayment Plan, determine your net worth, your true income and find out where all your money goes every month.
Here is an example of Lifestyle Creep. Our neighbor’s daughter recently graduated from a prestigious law school. She arrived home driving a brand new BMW X3 Sports Activity Vehicle. True, it is a beautiful car and she worked hard to graduate law school, but did she really need to spend $46,000? Another Austin victim of Lifestyle Creep!
We visited the Austin CarMax website and found a 2016 Toyota Corolla with 22,000 miles for $18,000. The monthly car payment, using a 60-month car loan at 3.11%, for the BMW cost $829 versus $324 for the Corolla.
Imagine what she could do with an extra $505 a month. How about paying off law school loans faster, building an Emergency Fund, saving for a down payment on a house or opening Roth IRA?
Lifestyle Creep won again in Austin!
Six months ago she was just a hardworking student living with two roommates and eating ramen noodles three times a week. Today, thanks to Lifestyle Creep, she is proudly driving a very expensive car! Imagine if she had continued to “live like a student” for a couple more years. She would have been financially secure even if she never made partner!
For only $149, Captial Budget Strategies, LLC, Austin’s best Financial Coach, will help plan for your next pay raise or promotion. We can meet at your home, your office or our home-office. We are available during the day, in the evenings and even on weekends.
We will help you fight back against Lifestyle Creep in Austin and win!
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