Many people today share a similar frustration: “I’m earning more… so why do I feel financially worse off?”
Objectively, it’s very possible that your money no longer goes as far as it used to. In South Africa income increases are not keeping pace with the rising cost of things we need to pay for. For middle-income earners increases in the cost of education and medical cover, in particular, often outstrip the official inflation rate that employers use to calculate inflationary salary adjustments.
So, if “feeling poorer” resonates with you, you’re not alone.
But what if there’s another component to it?
While contemplating this “feeling poorer” situation, there’s also a case for taking the opportunity to ask some deeper, more philosophical questions of ourselves. Because sometimes, the issue isn’t solely the amount we earn, but rather the habits that quietly expand alongside our income. This tension is beautifully unpacked in How Much Is Enough? by Andrew Bradley, Arun Abey and Andrew Ford, a book that challenges us to rethink the connection between money, time and happiness.
The lifestyle-creep trap
As income grows, lifestyle almost always expands to fill it. A smarter car, a more luxurious holiday, or simply more convenience purchases in our day-to-day grocery basket. Each step feels reasonable but, added together, can result in a material increase in spending. Once we get used to it, that higher spend becomes the new norm (and having anything less feels like we’re going backwards).
Over time this can lead to the uncomfortable feeling of running harder just to stand still.
The psychology behind feeling poorer
The authors of How Much Is Enough? highlight an important truth: our brains are wired in ways that don’t always support financial wellbeing.
We:
- compare ourselves to others,
- adapt quickly to improvements, and
- often chase the next milestone believing it will bring satisfaction.
But it rarely does.
Studies actually show that once our basic needs and a sense of security are met, the emotional return on additional income diminishes rapidly. Things we think will bring happiness – such as more possessions, more status, more luxury – often bring only temporary pleasure before resetting our expectations: upwards. This is why even substantial income increases can leave us feeling no better off at all.
Redefining “Enough”
Instead of asking “How can I earn more?”, the authors encourage us to explore a much more powerful question: “How much is enough for me?”
“Enough” is deeply personal and rooted in values, goals, relationships – the kind of life you want to live. When you anchor financial decisions to those foundations, the pressure to constantly upgrade starts to fall away. This shift can be liberating. It turns your financial planning from a race into a roadmap, one that aligns your money with meaning.
Three practical ways to break the cycle
- Get intentional about lifestyle choices
Before increasing spending, pause and ask: Does this genuinely improve my wellbeing? - Prioritise investments
Automation helps: increase your savings every time your income rises so that lifestyle doesn’t swallow the entire increase. - Revisit your definition of success
If success is tied only to earnings or possessions, you will always feel “behind”. When it’s tied to freedom, security, time, relationships and purpose, your money begins working for you and not the other way around.
Final thoughts
You can absolutely earn more and feel wealthier, but that feeling depends less on income and more on clarity. When you understand your personal “enough”, decisions become easier, stress decreases, and financial progress becomes far more meaningful.
Lindsay Frost, CFP® CA(SA)
Director, Wealth Manager
