I am 25 now (damn I feel old haha!) and I have gotten 2 promotions in my career so far. When I was younger I though that every promotion will be more spending money. Now that I have started living, every promotion just seems to fill expenses I didn't have before (most of them aren't even luxury expenses!)
My question is: How do I stop salary promotions from being filled up with new expenses?
Obviously getting a TV package, better internet deals and a more expensive car are very obvious reasons why the promotions feel like they are not doing anything. My real question is with things that are actually necessary like getting better medical aid, insurances, retirement plans.
So, any tips on living below your means? (NOT luxury wise, I am not someone who buys a sports car or better cellphone)
I recently got a promotion, and now my medical aid has gone up due to salary brackets. Everyone is advising me to get some type of retirement plan (South Africa) and I need to start putting money in an emergency savings. At the end of all of this I just feel like "what is the use of getting a promotion in the first place if I can't spend it on expenses I enjoy (traveling in my case)"