We’ve all been there: you get a raise at work, and so you treat yourself to some small luxuries: the odd Uber to work in the morning, pilates sessions even after you’ve used up the last of your ClassPass credits, that expensive cleanser you’ve been eyeing up for weeks. Whether it’s under the guise of “healing our inner child” or succumbing to “little treat” culture, many of us have given up attempting to scrape together enough money for a house deposit in favour of routinely maxing out on our paychecks every month. This phenomenon – where your expenditure grows in tandem with your salary – is known as lifestyle creep.

NielsenIQ’s Spend Z report projects that Gen Z will have the fastest growth in spending power, reaching an estimated $12 trillion, by 2030. But ironically, we also have the lowest levels of financial literacy, with about 50 per cent of us admitting that we don’t feel confident when it comes to managing our money. 

None of us are immune from keeping up with the Joneses, but social media makes the chronically online increasingly susceptible. “When we’re constantly exposed to content showing aspirational lifestyles through the purchase of consumer goods, we can easily feel as though our current way of living is not sufficient, or that we’d be fulfilled if we had more,” author and psychotherapist Eloise Skinner explains to Dazed.

It may feel impossible to reverse lifestyle creep without feeling defeated or worsening our quality of life. But the first step to conquering it is acknowledging that it’s actually happening and that we’re capable of changing our circumstances. Here are some other pieces of advice.

GIVE YOUR MONTHLY EXPENSES A PROPER AUDIT

Some people still choose to not track expenses or budget, in fear of confronting the sheer scale of their extravagance. Well, download that money management app, anyway. Audit all your bills and receipts, while you’re at it. “Go through your monthly expenditure – particularly your subscriptions – and map out which items actually align with your values and give you fulfillment,” Alex King, founder of personal finance platform Generation Money, tells Dazed. 

For instance, a gym membership might be essential for our health and fitness goals. But admittedly, the materials for a hobby collecting dust in a drawer or the unused products for a 10-step Korean skincare routine can be cut down or even totally cut off. The objective isn’t to deprive ourselves of simple joys, but to assess what actually improves the quality of our lives.

TRY A 48-HOUR SPENDING RULE

What we consider non-negotiables are sometimes a product of habit or convenience: we’re often accustomed to checking out immediately, rather than leaving it in the cart and giving it some thought. “I’d recommend implementing a slow spending rule: give yourself a 48-hour wait before buying something over a certain amount,” King suggests. He adds that giving yourself this pause not only helps to make sure that all purchases are truly value-adding, it also gives time to search for cheaper alternatives. 

FOMO is also a major factor that drives lifestyle creep, more so if the purchase on hold involves a timely microtrend or the influence of a friend group. 26-year-old Basil noticed that his savings weren’t increasing after constantly treating his friends to the newest restaurants. “I used to go out with them every month but ever since I realised how hard it’s become to maintain my lifestyle, I only see them once every quarter,” he tells Dazed. “But it’s all a matter of asking yourself, ‘Is your priority to have a certain goal by a specific age? Or would you rather have fun right now?’ You can’t have it all, is something people need to realise today.”

CANCEL YOUR AUTOFILLS

Reckless spenders are often their own worst enemies, and will concede in every mental battle. For such worst case scenarios, drastic measures are required. “These can include logging out of all shopping sites, unsubscribing from mailing lists, and removing autofill payment options – any barrier you can put up makes it harder to spend,” King says.

Since many places only accept card payments, carrying cash everywhere instead might be a good idea too. This puts a hard limit on what you can spend and prevents the possibility of racking up debt. “It’s a different feeling to have to shell out bills: if you keep swiping your card for every purchase, you never see the money leave your wallet. You may end up thinking you have more than you actually have,” warns Annie Cole, financial coach and founder of Money Essentials for Women. 

BE AWARE OF YOUR PRESSURE POINTS 

Plus, remember that external influences don’t always have to dictate what a desirable life looks like. Cole suggests reclaiming our agency and redirecting where our attention goes: “going on a social media break, putting yourself in a relaxing mood, and hanging out with friends that don’t pressure you to live beyond your means.” Over a third (36 per cent) of Gen Z and millennials claim that they have a friend who often leads them to overspend. 

That’s why it’s been important for 24-year-old Sam to make sure that her friends serve as her accountability buddies in her journey towards thriftiness. “I try to organise hangouts in larger groups so I can see people all at once instead of individually, and I go for low-budget ideas too like inviting them to my house so none of us have to spend on anything,” she tells Dazed.

Unhealthy financial decisions fueled by fear, insecurity, or guilt may be a symptom of an emotionally fraught relationship with money. Perhaps this scarcity mindset stems from past experiences or takes root in cultural values. Sam grew up on a really strict budget that never gave her full financial freedom. “As I started earning a decent amount, I would think about all the things my younger self wanted and deserved. One of the pointless purchases I made was part of a Barbie dream house, which now collects dust in my room. I think I just liked the feeling of gratification I got after buying,” she says.

In a time when the most quotidian tasks can be repackaged as self-care practices, “we sometimes end up behaving in ways that don’t align with our practical circumstances, since we might feel we have justification in a bigger, more abstract goal,” Skinner suggests. “It’s important to assess the true reasons why our indulgences matter so much to us, and see if we can find ways to explore it without mindless purchasing beyond our means.”