Tips to Avoid Lifestyle Creep

As you move through your career and begin to earn more over time, you may feel like there is not a lot of extra money left over. If so, you may be experiencing lifestyle creep. Lifestyle creep happens when your spending increases as you earn more income. The increased spending is often due to additional convenience items, like upgrading housing, taking bigger vacations, etc. All of the extra spending can make it feel like you are not making financial progress. To avoid lifestyle creep, consider these three tips: Establish your long-term goals and have a plan to achieve them. Take a step back to determine what you want to achieve financially and then build a reasonable plan to get there. Trea

Lump Sum Versus Dollar Cost Averaging Investing

Most people do not think twice about the timing of making contributions to a 401(k) plan that is automatically deducted from their paychecks. However, people who are in a situation of having extra cash on hand tend to struggle with the timing of putting the money to work in the market on their own. The dilemma of investing it all at once as a lump sum or dollar cost averaging (systematic investing over a period of time) can translate into procrastination. And, failing to act is a less favorable outcome than both of the options being considered when investing for the long-term. There is no perfect way to make this decision because predicting short-term movements of markets is not easy. While

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