Financial Goals

1. Lifestyle Expenses: eating out, vacations, entertainment etc.
2. Protective Expenses: health, car and house insurances or emergency funds.
3. Productive Expenses: things that improve your life for the long term -  investing in your education or career.
4. ...

Lifestyle inflation is an insidious killer of your financial wellbeing and eventual financial independence.

What it is: allowing your expenses to grow along with increases in your income.

How preventing it helps:

• Using increases in income t...

• 50% of your income goes toward essential expenses: rent, bills, minimum debt payments.
  
• 15% percent goes to retirement savings. They also suggest you increase this by 1% each year.
  
• 5% goes toward unexpected monthly expenses or building an emergency...