• A financial planner uses a 2-step exercise to help clients find the 'freedom' in getting a raise

    7 days ago - By Business Insider

    Use this financial planner's quick exercise to combat lifestyle inflation.
    Pay raises can lead to lifestyle inflation: the tendency to spend more as you earn more.
    One financial expert asks clients to list their spending and compare it to their new income - oftentimes it results in a cash surplus.
    This number represents a freedom of choice, he says, and helps people make a conscious budgeting decision, rather than an impulsive one.
    This article is part of a series focused on millennial financial empowerment called Master your Money .
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