How to resist lifestyle creep?

[Wplion]

What are good ways to resist lifestyle creep?

I am about to embark on a career that could be very lucrative. However, it is also a very stressful career and one which people say others become trapped by the golden handcuffs. For example, they let lifestyle creep take over and need the high paying job to pay for the lifestyle they become accustomed to.

I grew up in a fairly poor household. We never went without but everything was low quality.

Already I can afford nice things, and I am frugal. I like 800 thread count sheets, but buy them second hand on ebay. But how do I stop lifestyle creep? What are measures to ensure I don’t get sucked into keeping up with the Joneses

How old are you now, what age do you hope to retire and work back from that. Not spending now is far, far easier when you have a clear vision for what today's savings are actually for.

I actually think its about not turning your earnings into lots of debts you have to service and to some extent lots of direct debits with long notice periods.

Few of us can buy cars or houses outright so some debt is needed, but it doesnt need to be the maximum you can have against your salary.

I agree with maximising pensions and savings

I also think you earn the money to spend so buy a nice handbag If thats what you want.

This.

Cost of living changes for us just meant downgrading a few groceries from the finest range and trimming the holiday budget.

Buy cars and phones outright, and fight shy of monthly commitments.

One thing I do always do though is that when I get a pay rise, I spend the extra income for the first two months on a few treats and upgrades before adding 90% of the extra to my savings standing order.

For me its about conscious vs unconscious creep.

As standard,

1. budgeted savings come out at start of month.

So if youve got £58 left on the 24th... the dior lip gloss needs to wait until next month and i am going for drinks not dinner this saturday.

1. Every payrise was accounted for in full either as pension sacrifice, going into savings or over paying my mortgage.

Conscious creep...
When i wanted / needed a car i took £15k out of my savings and we increased our monthly living budget by £90pm to cover petrol tax and insurance.
I didnt just "find my outgoings were up each month". We work to a budget and adjust as needed.

Oh and when i had a baby we got a cleaner - its £350 pm but totally worth it.

Things do get more expensive as you get older but i think its about creating a delta between outgoings and earnings

Don't buy anything to impress anyone.
Don't buy cheap stuff that you have to replace. Invest and save but live a little as well otherwise what is the point?

Get an excellent online banking app (switch bank if you need to) that makes it incredibly easy to track what you've spent and when.

Then gamify / challenge yourself on what you spend.

E.g. I try to keep my incidental spends monthly to £250 a month. It's quite tough - one hair appt, a big meal out and a new top and it could all be gone. But the challenge of it keeps me on my toes and stops me going crazy and spending mindlessly.

I understand the golden handcuffs, but i'm sure you don't need to buy second hand bed sheets...

I know several millionaires who are the tightest people you’ll meet, save 80% of your income and just live off a small proportion.

I earn about £50k a year but only £1k hits my current account each month. The rest isn’t touched.