Ramit Sethi explains why people earning $300,000 a year still end up in debt. The culprit: lifestyle inflation. As you earn more, you spend more. Social media advice and the hedonic treadmill trap high earners into spending every dollar they make.
$300,000 a year
January 31, 2023
So can I just say, you two.
Make a lot of money.
Like, what the fuck.
Is going on here?
You guys make $300,000 a year. So what's.
Really going on here? It's not an income problem. You ever see those people on TikTok? They're always like wearing these horrible ties. I'm like, first of all, get a new fucking tie.
Second of all, who taught you how.
To tie that tie?
And I'm not even the best tie.
Tier, but I'm.
Like, that looks like shit.
And these guys are always saying the same thing. There's a hedonic treadmill in the United States, and if you make more money, people always spend more money.
I go, shut the fuck up.
But the problem is you're actually doing that.
You, you're the example they're talking about on TikTok. You made more money and then you started spending more money. You're violating my own rules.
