How to Maximize Wealth and Avoid Lifestyle Creep

We see money messages everywhere we go. There are advertisements on streaming services, billboards, in social media, and even podcasts that encourage us to consume and buy more. Buying more increases our lifestyle, not our wealth. How can we see past all of that each day to find our own financial clarity?

In this episode, Army Veteran and Certified Financial Planner, Christopher Manske shares the common money illusions were are taught that limit our ability to build wealth and encourage lifestyle creep and how to change our mindset and actions to instead maximize our wealth.

Chris graduated from West Point and served in the military for five years. In 2000, he became a broker at Merrill Lynch, where he was asked to devise and deliver nationwide training to ML brokers. He earned his CFP (Certified Financial Planner) designation from Rice University.

Chris founded Manske Wealth Management in 2012. He is the author of The Prepared Investor, which offers guidance to investors as to what to do in a crisis, and his new soon-to-be-released book, Outsmart the Money Magicians, which warns investors not to allow lifestyle creep to impede wealth accumulation.

Avoid Lifestyle Creep Episode Details

    • The common “money illusions” that limit our ability to build wealth
    • What lifestyle inflation is and how it impacts wealth
    • Systemic issues of advisor quotas and their ramifications
    • How the Consumer Price Index (CPI) manipulation leads to underestimated inflation
    • Why “pay yourself first” is a trick that enables lifestyle creep
    • Why a growth mentality is difficult long-term
    • How putting money into savings first can pay off

Related podcast: How to Use Consistency to Achieve Your Financial Goals

Maximize Wealth and Avoid Lifestyle Creep Resources

     

     

     

     

     

     

     

     

     

     

    Related: Practical Wealth Building

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      Disclosure

      These notes may contain links to our affiliate products or services, which means I might get compensation when you click or buy. That said, I will only put affiliate links that align with our podcast discussion.

      If you want to “kickstart” your finances in the military, you can get access to my free Financial Kickstart Kit here.

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