DON’T TRY TO KEEP UP WITH THE
JONESES; THEY’RE GOING BANKRUPT
One of the Important Money Philosphy to learn is – it’s very simple.
never try to keep up with your friends family and neighbours…
Why Becuase, There are 5 Reason,
1st –
By doing this, you will always end up spending more than what you can afford….
and if you spend more than what you can afford then you are in certainly in financial trouble.
2nd-
It may be they are also trying to copy their firens, relatives are others…
3rd –
In order to get rich, you must have to focus on building asset and not liablites,
and what your neighbour has bought, or spend money, look like an asset but chances are very high
he has bought liablites rather than asset.
4th
You will be never every happy, because if your deoing it simply means
you are always comparing yourslef with others…and comparing with others will never let you be ture happy
and also by doing this, because doing this mistake can increase your mistake,
which case you more debt,
also ,what if they keep buying ,or keep doing mistakes, then you are simply copying that mistakes
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.
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