You just got the promotion. The official email hit your inbox, the new salary has been confirmed, and suddenly, you are doing mental math. If I make $500 more a month, I can totally afford that nicer apartment, right? And maybe I will upgrade my gym membership. Oh, and I definitely deserve nice sushi tonight to celebrate.
Stop right there. Take a deep breath. You are standing on the precipice of a financial trap as old as time: lifestyle creep. If you are not careful, it can completely neutralize your hard-earned raise and leave you wondering where all...