A study by Bankrate showed that the more income someone made the more income they felt they needed to be financially comfortable and rich
You are always going to want more money than you have and upgrading your lifestyle as your income goes up can be a financial trap that’s easy to fall in to. This cycle keeps growing and each time the new lifestyle becomes the new normal for you, sometimes these can be small things but once they are part of your lifestyle its difficult after this to cut back on your expenses
You want to avoid lifestyle inflation as much as possible as you don’t want the upgrades and increases in your expenses to erode the additional money you are making as it removes your ability to save anything additional
