S1E284: The raise paradox: why earning more never feels like enough
About this episode
The episode discusses the phenomenon of lifestyle creep and why higher income does not necessarily lead to increased savings.
You just got a raise. So why does your bank account still feel broke? It’s the lifestyle creep — the sneaky force turning your bigger paycheck into the same old savings. From $8 lattes to subscription traps to the psychology behind "keeping up with the Tans," find out why more income rarely equals more wealth, and what to actually do about it. Warning: may cause spontaneous budgeting. Synopsis: Every Monday, The Business Times breaks down useful financial tips. Highlights: 00:07 The pay-raise paradox 01:11 What lifestyle creep really means, psychologically 04:12 Three forces silently inflating your expenses 07:12 The one question to ask before spending your next paycheck 09:34 The Warren Buffett rule: why staying humble pays off 22:27 The three-week rule that curbs impulse spending --- Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg. --- Written and hosted by: Howie Lim (howielim@sph.com.sg) With Michelle Mah, founder and psychotherapist, The Curious Bonsai Therapy & Coaching and Wildon Goh, head of Southeast Asia and country head of Singapore. Fidelity International Edited by: Howie Lim & Claressa Monteiro Produced by…
More episodes of BT Money Hacks
- S1E285: The $70,000 question: how to master your family's new financial tailwind
- S1E283: Singapore stocks aren't boring anymore — here's the proof
- S1E282: Behind the institutional veil: what your bank doesn't want you to know about asset allocation
- S1E281: The mass affluent trap: too rich for retail, too small for private banking
- S1E280: Market noise vs real signal: are you investing or just guessing?
- S1E279: Artificial sycophant or financial genius? When to trust AI
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