savingsrate News & Analysis

Simone Biles Reveals $22K Glam Bill, Highlights Lifestyle Creep

Simone Biles recently shared a $22,000 bill for hair, makeup, and styling from a red carpet event, illustrating lifestyle creep. According to a Federal Reserve survey, 37% of U.S. adults reported increased spending compared to 32% who saw an income rise in 2024. This marks the third consecutive year where spending has outpaced income growth. Additionally, personal savings rates have decreased to 3.6% in March 2026 from 5.1% the previous year, indicating a broader trend affecting even higher earners.