Conspicuous consumption lives on, as does keeping up with the
Joneses.
People want others to believe they can afford more than their income
allows them to. My philosophy is “Who cares about the Joneses?” The only people
you ultimately answer to are you and your family.
If my neighbor gets a new BMW, I don’t need to follow her. If
she can afford it, then good for her.
In all likelihood, she can’t afford it.
Much of the time, you’ll find she is just trying to keep up with the neighbor on
the other side of her house.
We have seen the reality of this in the past few
years as the number of home foreclosures and car repossessions has increased
astronomically.
The most important aspect of this principle is that you
recognize there will always be people who live better than you. And you should
feel good for them.
On the other hand, there will always be people who can’t
afford as much as you (though their purchases may make you think
otherwise!).
Your goal is to be financially responsible now so that you
can progressively increase your financial standing in the future. Don’t be
concerned with where you are financially in relation to others.
Blogger Comment
Facebook Comment