Submitted by spongerd82 t3_zzcet2 in personalfinance
tactical808 t1_j2b061u wrote
Hard to do, but best advice is to not let your lifestyle “creep up” with your new pay. If you were doing fine prior, try to stay relatively close to that. The biggest mistake you can make is to grow into this new income.
Conceptually it sounds crazy not to spend what you make, but 3x’ing your income can get you to Financial Independence that much quicker. Again, easier said than done, but the more you can apply to FI with this new pay, the quicker you can eventually leave the rat race (assuming that is the goal).
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