The original post can be found here:
You know them. They’re the family driving the shiny new cars, wearing the fancy new clothes, going on lavish vacations and sending their 2.3 children to private school. They have no financial worries, no need to budget, no money fights, and no concerns about retirement.
Hey everybody…It’s the Joneses! Everything in their world is easy. They have it all! Or do they?
“It’s not fair…” you may say. “Some people just seem to have it so easy. How do they live so well while I struggle just to pay the bills?”
It’s a good question. How can these young couples in their 20’s and 30’s buy the big house, drive new cars and go out to nice dinners every night? When Katy and I were newlyweds, we lived in a 600 sq. ft. apartment, drove 15 year old cars and regularly had to say no to going to dinner with friends.
Journalist and Author Shira Boss observes, “How we fit in and how we measure up are such an integral part of our financial well-being. We construct a fantasy world around those who have more money, and glorify their lives.”
Everyone in our culture seems obsessed with Keeping Up With The Joneses. But here’s the big secret….the Joneses…are broke
When you begin to ask the “Joneses” in your world, it turns out that they don’t own anything. Their big fancy house has a big hairy mortgage. Their cars, boats and stereo systems are all financed. And their big income is completely spent on payments before their paycheck even hits the mail. They have walked right into the trap of looking good but living broke! With credit cards, home equity loans, and “easy monthly payments,” it’s easy to look like you have more than you really do. But it’s a house of cards, and it won’t stand. Just ask the 2 million people that filed bankruptcy in 2010.
Vacations aren’t nearly as relaxing when you are still paying for them 3 years later. And the shiny new car isn’t as fun to drive when you are scrambling to come up with the $500 payment. The big house is no longer a blessing when the foreclosure notices start to come. This shiny, happy existence looks great from the outside. However, inside you will often find heartache, stress, money fights and fear that the bills may not get paid. This is no way to live….and all of a sudden, keeping up with the Joneses isn’t quite so appealing.
In his book “The Millionaire Next Door,” Thomas Stanley points out that the majority of actual wealthy people got that way by living on less than they make, staying out of debt, and saving their money. But no one looks at the person driving a used car and living in a modest home and thinks, “Wow, they must really be saving and building toward a great future…I bet they’ll be able to pay for their kids’ college…they will sure be able to retire comfortably.” Everybody envies the look of wealth. But very few are willing to do the things that wealthy people do, in order to become wealthy people themselves.
How can the Joneses afford to live that way? The truth is…they can’t.
So the moral of the story is…
Stop comparing yourself to the Joneses…or anyone else for that matter. You don’t need to impress them or anyone else. It’s not worth it!
True contentment comes from within. It’s easy to think that if I just had enough money, or more stuff or this new thing, then I’d be happy. But true contentment and joy come from things that money can’t buy. What are your fondest memories? What are the moments in life that have warmed your heart and made you smile the most? Would you trade any of those for a bigger bank account, larger house or newer car?
Yours In Freedom,
Clint
Don't forget to pick up your copy of the free E-book, "Wake-Up Call: The Eye-Opening Truth About Debt, by visiting http://www.DavisCoachingSolutions.com
May 14th, 2011 at 04:42 pm 1305391351
No one lives like that anymore except the super-wealthy.
May 14th, 2011 at 08:38 pm 1305405513
Jerry
May 16th, 2011 at 12:48 am 1305506939
Patientsaver, thank you for leaving a comment also. But I have to say, I disagree with you. The news media puppets are always talking about the "disappearance of the American middle class." Really? Go down to the lake on a summer day. All the people with the boats...are they only the super wealthy? Not where I live. The people with a big nice house they can't really afford...they aren't super wealthy. They're middle class people who try to live like they're super wealthy. But either way, the fact remains: there will always be someone with bigger, better, faster, newer, shinier. And if you are engaging in this "comparison mentality," you will never be satisfied and you will never have "enough." There are many poor people who live content and within their means, and there are many rich people who live over-extended and in debt up to their eyeballs. Whoever you are and whatever your financial status, be content and live on less than you make.
Thanks again for the comments.
May 19th, 2011 at 04:20 pm 1305822040
May 21st, 2011 at 01:04 am 1305939869
May 23rd, 2011 at 07:26 pm 1306178763
Let me be clear...there are people who don't have consumer debt. They are living within their means, saving for the future, and living responsibly. There's just not a lot of them.
Over 2 million people filed personal bankruptcy in 2010.
According to the Wall Street Journal, 70% of Americans are living paycheck to paycheck.
According to US News and USA Today
56% of Americans DO have consumer debt.
The total outstanding consumer debt in the U.S. was $11.7 TRILLION as of June 2010.
The average American household with at least 1 credit card has $10,700 in credit card debt.
30% of Americans have credit card debt.
59% if baby-boomers have credit card debt.
56% of baby-boomers have car payments
40% of people who are in debt have monthly debt payments that are more than half of their monthly income.
60% of people over 50 years old are in debt.
Should I go on....???