It’s easy to fall into the trap of lifestyle inflation. As our income increases, so do our expenses, and that can lead to a cycle of spending that can sabotage our financial goals. But with a little awareness and discipline, it’s possible to resist the temptation to upgrade our lifestyles unnecessarily. In this guide, we’ll explore eight habits that have the potential to contribute to lifestyle inflation and provide you with tips to counter them!

1. Daily coffee ritual

It’s no secret that many of us rely on a daily caffeine fix to kickstart our mornings. However, these daily trips to the coffee shop can quickly add up. Consider this: spending $5 on a fancy latte five days a week amounts to about S$100 per month, or S$1,200 per year! If we’re talking about coffee brands like Starbucks, a cup of coffee can easily set you back by S$7-S$9....