You Got a Raise. So Why Are You Still Broke?

Description You got a raise. So why do you still feel just as stuck? It's not bad money habits, and it's not ingratitude. It's a quiet trap called lifestyle creep, and this video shows how it turns every raise into a more expensive life, and what you can do about it. CHAPTERS 0:00 Intro 0:50 My Situation 1:44 Lifestyle Creep 3:41 The Happiness Treadmill 5:34 Why Spending Keeps Up With Income 8:30 Your Real Hourly Wage 10:12 What Actually Buys Freedom 11:28 What To Do About It 13:36 Recap IDEAS AND SOURCES MENTIONED Lifestyle creep (lifestyle inflation) The Diderot effect (Denis Diderot's essay on his dressing gown) Hedonic adaptation and the hedonic treadmill (Brickman and Campbell, 1971) Income and happiness research (Kahneman and Deaton; Killingsworth; Killingsworth, Kahneman and Mellers) Parkinson's law, applied to money Social comparison Your real hourly wage (from the book Your Money or Your Life by Vicki Robin and Joe Dominguez) Savings rate WATCH NEXT Why You Can't Quit a Job You Hate (The Sunk Cost Trap)    • Why You Can’t Quit a Job You Hate   ABOUT THIS CHANNEL Escaping Rat Race is my 6-month experiment in getting out of a low-paying, time-heavy job, with real results and real mistakes. Subscribe if you want to follow along. The numbers in the examples are for illustration only. This video is for education and entertainment. It's my own experience and opinion, not financial advice. #LifestyleCreep #EscapingTheRatRace #PersonalFinance #MoneyMindset #Psychology #SavingMoney