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Picture this: You’ve worked hard, landed a solid job and your paycheck reflects that sweet “upper middle class” status you’ve been longing for.

But somehow, when you look around, it feels like your lifestyle isn’t quite matching up to your salary. Bills start piling up, your savings seem to disappear, and you’re left wondering where all that money is going.

The thing is, if you’re a high earner, you’re in a much better position than the roughly one-third of people Bank of America found “strongly agree” they were living paycheck to paycheck in late 2024.

So, take a look at the bigger picture. Here are some changes to make if your great income no longer feels enough.

Set Up Strategic Direction for Your Wealth

According to Kevin Shahnazari, founder and CEO of FinlyWealth, many high earners struggle because their spending increases proportionally with income but lacks intentional allocation. He’s seen clients who earn $200,000 plus annually yet feel financially constrained, because their spending expands to fill available resources without building wealth.

“The solution starts with conducting a spending audit to identify exactly where your money goes, then realigning these expenditures with your actual priorities and values,” he said.

When Shahnazari first reached a six-figure salary, he fell into this exact trap. He said his spending unconsciously expanded — nicer restaurants, premium subscriptions, impulse purchases — but his financial satisfaction didn’t improve.

After tracking every dollar for three months, he discovered he was spending over $2,000 monthly on conveniences and status purchases that didn’t truly enhance his quality of life.

“Redirecting just half of that amount toward investments completely transformed my financial trajectory while maintaining the lifestyle elements I genuinely valued,” he explained.

Set Clear Financial Boundaries and Automate Priority Goals

Upper-middle-class earners often suffer from what Shahnazari calls “someday syndrome” — believing they’ll start serious saving and investing once they reach some arbitrary higher income threshold.

This mindset, he said, prevents wealth accumulation regardless of income level.

To counteract this, start by automating at least 20% of your income toward investments and savings before lifestyle spending, essentially putting your financial priorities first in line.

“I worked with a surgeon earning over $400,000 annually who couldn’t understand why she hadn’t accumulated significant wealth,” Shahnazari said. “We discovered she was saving only about 5% of her income while maintaining expensive housing, luxury vehicles and frequent travel.”

By automating 25% of her income to investment accounts before it reached her checking account, his client built substantial wealth within three years without feeling deprived.

The automation made the adjustment nearly painless after the initial setup.

Examine Housing and Transportation Costs

According to Shahnazari, housing and transportation typically consume 40% to 50% of total spending but can quietly undermine financial progress for high earners. Many upper-middle-class professionals allocate excessive resources to these categories, leaving insufficient funds for wealth-building.

“I recommend limiting total housing costs — mortgage/rent, taxes, insurance, maintenance — to under 30% of gross income and transportation expenses under 10%, regardless of income level,” he said.

During his early wealth-building years, Shahnazari said he deliberately chose to live in a modest home and drive practical vehicles despite qualifying for much more expensive options. This one decision allowed him to invest an additional $4,000 monthly compared to peers with similar incomes.

While friends showcased larger homes and luxury cars, he quietly built a seven-figure investment portfolio that ultimately provided significantly more security and options than depreciating status symbols.

Create Systems for Managing Lifestyle Creep

“High earners need structured frameworks for evaluating potential lifestyle upgrades rather than defaulting to continuous expansion,” Shahnazari explained.

He recommended implementing a “30-day consideration period” for any non-essential purchase over $200 and a formal annual review of all recurring expenses. This creates deliberate decision-making around lifestyle inflation rather than unconscious spending expansion.

“I helped a tech executive earning $300,000 implement what we called ‘conscious upgrading’ — a system where any lifestyle expansion required eliminating a less-valued expense of equal or greater cost,” he explained.

When the tech executive wanted a luxury apartment costing $1,200 more monthly, she identified subscription services, dining expenses and shopping habits totaling $1,500 that provided minimal satisfaction. Shahnazari said this approach allowed her to upgrade meaningfully while actually improving her financial position.

Recalibrate Social Circles and Expectations

Many upper-middle-class professionals feel financially constrained because they benchmark against peers who display wealth rather than those who build it. For this reason, Shahnazari encourages his clients to find social circles that value financial intelligence over conspicuous consumption and to establish personal financial metrics based on net worth growth rather than income or spending capacity.

“Early in my career, I joined investment clubs and entrepreneurial groups where the focus was on financial growth rather than outward displays of success.” He noted that these relationships fundamentally changed his spending patterns and financial goals.

When surrounded by people who measured success by investment returns and business growth instead of material possessions, his priorities shifted dramatically toward long-term wealth creation.

Ultimately, Shahnazari explained that the gap between income and lifestyle satisfaction often stems from misalignment between spending and genuine priorities. “When high earners create intentional systems for managing their resources, they can achieve both current lifestyle satisfaction and long-term financial security.”