World News for Students of English

30-07-2025 07:00

About 14% of US households earn over 200,000 dollars annually, but many high earners don’t feel rich. These individuals are called HENRYs—High Earners, Not Rich Yet.

Even people making over 300,000 often struggle with credit card debt. This is partly due to lifestyle creep, where people increase their spending as their income rises. Many HENRYs live in high-cost cities and have growing expenses like rent, food delivery, and subscriptions. They compare themselves to others in their income group, making them feel financially behind.

Experts say budgeting, knowing your net worth, and planning for savings are key steps to feeling financially secure. While earning more can offer freedom, it doesn’t always reduce stress. Emotional spending, social pressure, and a lack of financial planning can keep high earners stuck on a hamster wheel, always working but never feeling financially safe or satisfied.

Difficult words: lifestyle creep (slowly spending more as your income rises), net worth (everything you own minus everything you owe), hamster wheel (a cycle where you keep working but don’t feel progress).

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