A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Needs vs. WantsThe distinction between spending you truly must cover to live, like housing and food, versus spending you choose for enjoyment or convenience.
- Impulse PurchaseAn unplanned buy made on the spur of the moment, often driven by emotion rather than need, that can quietly derail a budget.
- Discretionary SpendingMoney spent on nonessential things you want but could go without, like dining out, hobbies, or entertainment.
- Value-Based BudgetingA budgeting approach that starts with your priorities and personal values, then funds spending categories that reflect them.
- Spending PlanA forward-looking plan for where each dollar of income will go before you spend it, covering bills, saving, and everyday costs.
- Lifestyle CreepThe slow, often unnoticed rise in everyday spending that gradually pushes up your cost of living over the years.
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Plain-English education — not personalized legal, tax, or investment advice.