“By constantly upgrading your lifestyle to keep up with or even outpace income growth, you may find that no matter how much income you earn you always feel squeezed.”
I chose this quotation from the article “7 Ways to Sabotage Your Financial Future” by Josh Monroe. I found it interesting because it is common to think that income growth leads to more savings. However, as Monroe points out in this article, many people increase spending as income increases, and therefore do not end up saving money. This is a fascinating concept to me and it shows how important it is to save money no matter what your income may be.
Monroe, Josh. “7 Ways to Sabotage Your Financial Future.” Pocket, 16 Mar. 2020, getpocket.com/explore/item/7-ways-to-sabotage-your-financial-future?utm_source=pocket-newtab. Originally published on Kiplinger
