Putting an end to "Keeping Up With The Joneses
Breann Cook Your favorite ambitionista, wife, & mother follow the journey @ambitionisthenewpink @iamambitiousbree
I understand that many women want to start a business, but fear budget and the possibility of not having a steady income because we all need to live of course, but first before we get into building your checking, savings, and other possible investment vehicles let's discuss some things that maybe holding you back financially.
Trust me, I know it gets tempting and at one point of life, we have all been guilty of it. Let's face it, social media, society and sometimes your own social circle doesn't make it any better. At some point we have all played victim to trying to "Keep Up with the Joneses". No one wants to appear to be the one doing less materialistically in the group or it is always that one person that stunts to keep from looking like the person with less in the group.
Keeping up with the Joneses is also known as "Financial Peer Pressure" "Financial peer pressure is a real problem that can affect people of all ages. According to a study conducted by the American Institute of CPAs, about "78% of young adults look at the financial habits of their friends to determine their own habits." Another 66% admitted that they strived to keep up with their peers in terms of living conditions, and two-thirds of consumers feel some level of financial peer pressure." -Wisebread.com
Everything has a price right? It is said that financial peer pressure can lead to stress, bad credit, high and uncalled for debt, impulsive shopping, and depression. Consumers spend billions of dollars a year purchasing new items due the influence of peers.
Below are 6 tips on how to put an end to the "Keeping up the Joneses" Syndrome.
Putting an end to "Keeping Up With The Joneses"
1. Don't COMPARE yourself to others.
2. Learn to value YOURSELF and not possessions.
3. Don't SPEND what you don't have.
4. Don't be FOOLED by social media.
5. Don't be ASHAMED of your financial limitations.
6. Learn to UNDERSTAND THE WORTH of money, financial status, and quality of the life you want to live. That will determine how and why you spend it. When you view your money as investments? You will INVEST IT TO BUILD WEALTH AND YOURSELF.