Some people earn a lot but aren’t rich – level 2
30-07-2025 07:00
Many people in the US make over 200,000 dollars a year, but they still don’t feel rich. These people are called HENRYs, which means High Earners, Not Rich Yet.
Even people who make 300,000 dollars a year have money problems and debts. They make more money, but they also spend more. This is called lifestyle creep. They buy more food, rent expensive homes, and want to live like their friends. They don’t always save enough money. Living in cities like New York or Los Angeles costs more, too.
Even with high pay, people feel like they must keep working all the time. Experts say it is important to make a budget and know your net worth, which is what you own minus what you owe. That helps people plan and save for the future.
Difficult words: debt (money you owe and must pay back), budget (a plan for how to spend money), owe (when you must give back something someone gave you).
You can watch the original video in the Level 3 section.
How does lifestyle creep contribute to ongoing money problems for people earning $300,000 a year?
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