Summary
About 14% of American households make $200,000 or more every year, according to the U.S. Census. But many of them, dubbed “HENRYs,” or High Earners, Not Rich Yet, still don’t feel rich. More than 60% of people with salaries over $300k a year struggle with credit card debt. These figures could be signs of the inescapable nature of lifestyle creep, which is the phenomenon of unconsciously spending more as a person earns more. Watch the video above to learn how those spending habits can leave even high earners feeling like they’re on a never-ending hamster wheel.
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