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Lifestyle inflation refers to the tendency for people to increase their spending as their income rises, rather than saving or investing the extra money. This can lead to a cycle of spending more and more money on non-essential items, and can make it difficult for people to save for their future financial goals.
The effects of inflation are often not directly felt but are played out over a long time, especially long-term investments are vulnerable to inflation.
At Horizon65, we created a mobile app that enabled you to check the effect of inflation on your savings.
Download our app and start gaining insight into your current and future finances.
Horizon65 for iPhone
Horizon65 for Android