The problem with lifestyle creep is that you don’t notice it happening, writes Emily Guy Birken. She shares how a financial fast can get your lifestyle in better alignment with your money goals, asserting that radically changing your financial behavior for a set period of time helps you recognize which money decisions are nothing more than habits and which are important to you. Her article is timely as the holidays end and personal budgets are set for the new year.
Financial fast” describes a period when you refrain from making any nonessential purchases and avoid using your credit card.”
Source: Fast Company, August 17, 2024. Link. Essential purchases include groceries, medicine, rent or mortgage, utilities, and any current financial obligations you may have. The fast forbids things like dining out, unnecessary shopping, or paying for entertainment.
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