Half of Australians expect a pay rise of about 10 per cent in the next year but, for many, the increase will be swallowed up by “lifestyle creep”.
When extra discretionary income is quickly absorbed by more expensive tastes, or things that you once considered luxuries seem like necessities, bam, you’ve been struck by lifestyle creep.
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Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
