Lifestyle creep and consumerism

I had a great long weekend that was much needed going into my wedding week and weekend. I didn’t do much which was great. I am slowly starting to relearn the art of just doing nothing again which has been big for my physical and mental health.

Given that it’s Cyber Monday, I wanted to write a bit about lifestyle creep and consumerism. My friends and I were discussing this a bit over the weekend as most of our are in our 30s and have now hit the point of financial stability.

We’re now able to afford nice things and we’re all starting to buy more and more goods. I don’t believe that anyone is immune to lifestyle creep. It’s natural that as you make more money and can afford things like healthier food and more unique experiences, you will likely buy it.

I do believe that I’ve probably gone a bit too far down the path of consumerism, especially in the past two years. I’d imagine a lot of Americans likely feel the same. The post-pandemic spending spree is a real thing. I find myself spending more money eating out and buying more clothes that I have ever. My monthly credit card bill has been on a steady climb.

Acknowledging this, I can’t be too hard on myself. I’m not a heavy spender in general and have saved a good amount this year. In addition, this is an expensive year. I attended many weddings, am getting married myself and will be heading on my honeymoon. I’ll give myself a pass for this year as the first full year post-pandemic.

I do think it’s good to keep these things in check from time to time. My goal going into the next year is going to be to cut back on spending and aim to increase my savings rate. 2023 is a great year to make some changes.