Applying Parkinson's Law to Personal Finance

Parkinson's Law, originally related to time management, states that "work expands to fill the time available for its completion." When applied to personal finance, this principle suggests that expenses will always rise to meet income. In other words, as your income increases, so too will your spending, unless you consciously control it.

To apply Parkinson's Law , it’s crucial to set strict budgets and savings goals.By understanding and utilizing Parkinson's Law in your financial planning, you can avoid lifestyle inflation, where increased income leads to proportional increases in spending