This is a YouTube video titled "Podcast Episode - Lifestyle Creep" containing a discussion between two speakers about the concept of lifestyle creep, where increases in income lead to higher living expenses rather than increased savings. The conversation explains how people tend to upgrade their lifestyle incrementally with each pay rise, such as buying more expensive wine or a bigger house.
So lifestyle creep is where we get a pay rise and instead of quarantining that surplus or the difference, we actually increase our living standards, and then we get another pay rise and we increase our living standards. We get a better car, we get a bigger house.
Suddenly you enjoy a more expensive red wine. The $8 Audi bottles just won't cut it anymore.
You go with the $8 bottle to the $30 bottle, and then all of a sudden you're at this $40, $50 bottle. So it just keeps moving, moving, and we're earning more, but not saving more.
