Lifestyle Creep: How Raises Can Hurt Your Finances

0:00This is Corey, with Adelaide News Today, powered by the Daily News Now. Nelly Sarenan, a journalist with ABC News Digital in Brisbane, just published a piece on lifestyle creep. It happens when people ramp up spending on extras right after a pay raise, which can damage finances over time by eating into savings. Sarenan points out this common habit often involves more indulgences without building better money habits. She has covered personal finance before, drawing from her background in digital media and as an intern at ABC Gold Coast. Many folks share stories online about falling into this pattern, regretting mischances to say for big goals like homes or retirement. The impact hits hard and tough economic times. Experts say recognizing it early helps, with tips to budget raises for debt payoff or investments instead. Sarenan's work highlights practical ways to avoid these pitfalls. Meanwhile, she has tackled other everyday topics, from keeping dogs safe and summer heat, to spotting accommodation scams, making complex issues easy to grasp.

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