KEEPING UP WITH THE JONESES

Why are we spending so much money? Why are we running our credit cards up to their limits? We are suffering from luxury addiction. People with incomes of $25,000 try to emulate the spending practices of

those with $50,000 income, who try to emulate those with $100,000 income, and so on. The truth is we are all trying to keep up with the Joneses. This can lead to a financial disaster!

Sooner or later people will begin to realize that this wild and crazy spending to keep up with the Joneses.

can’t give them satisfaction. Let’s face it, You can’t buy happiness.

Many people are hard-wired to compare themselves to others. Do I have as much as Mrs. Jones? Do I have more than Mrs. Jones? In today’s society borderline poor people live as well as the upper-middle class lived twenty years ago. However today’s borderline poor continue to feel poor. Ultimately the big spender is disappointed because once you become accustomed to a certain standard of living, the thrill is gone!

When Mrs. Jones flaunts her wealth, her lavish lifestyle, she is guilty of fanning the flames of jealousy and causing others to imitate her ways. This public flaunting of her wealth brings on the evil eye of others. Peer pressure often gets the better of us and causes us to try and keep up with the Joneses.

Teach your children how to manage money. I am still trying to convince my kids that when they get a dollar they don’t have to run to the store immediately to spend it. I have asked them to think about what else in their lives is important besides stuff and money. I want them to realize that the most important factor in managing money is managing their wants.

I often tell them that there is a huge difference between a want and a need. I want them to learn how to live beneath their means. It will secure them for a lifetime. So when Mrs. Jones drives up in her new Escalade don’t become jealous and jump into debt buying a new car to keep up with her. Ask yourself if you need a new car at that time. If not, compliment Mrs. Jones and keep on trucking!

What we need most in life is love, attention, acceptance, friends and family. We can have all of this without keeping up with the Joneses.

Greg Griffin is a freelance writer. You can read his previous articles by logging on to his web page at www.greggriffin.com