Are you falling into a lifestyle trap?

Almost everyone wants to have an amazing lifestyle – with best possible food in best possible places, awesome travel destinations, a swanky car, few trending gadgets, elite memberships and many other symbols which can proudly announce – “I have arrived”.


Yet a lot of us get so obsessed with chasing this lifestyle that before we realize, we are on a downward spiral and caught in the vortex of lifestyle trap. This becomes more pronounced when our income/ sources of earning fails to keep pace with lifestyle inflation led spending.

And this is a sure shot sign of you falling into lifestyle trap. The best step to avoid chasing lifestyle. The next best option is to realize that you are falling into this trap.

Here are five signs that you are falling into a lifestyle trap.

  • You are looking to upgrade your “I have arrived” possessions like iPhone, car, Fitbit etc. rather too frequently. And often when you don’t even need them or exiting one would more than suffice.
  • Your definition of affordability is characterized by easy access to loan. For instance you can “afford” to upgrade your car to Honda City because you are eligible for something like Rs. 999,999 car loan.
  • You have made more than half serious inquiry or even taken a personal loan for funding your day to day wants and desires, something you could have done without.
  • You are short of cash since few days before the salary day, thanks to the ongoing end of season fashion sale, eating out 5 days a week, attending expensive concerts etc. And alongside, you are also probably wondering how will you manage to pay your credit card bill in full.
  • Any rise in income is followed by a disproportionate increase in expenses because – you have “arrived” in life.

While chasing a good lifestyle is not something that I should be sermonizing about, but if chasing this lifestyle has some serious long term financial implications, maybe you need to rethink.

It may be a good idea to prevent falling into lifestyle trap rather than looking for solutions when it is late and may come at a cost.


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