Money Management: Keeping Up With the Joneses

Many get so caught up trying to be in the “in” crowd, buying things they don’t need or can’t really afford, just to “keep up with the Joneses”. You do not need to live like this. 

We are told, “You must not covert (desire or crave or be envious) of your neighbour’s house.” (Exodus 20:17)

If you try to keep up with the Joneses or Kardashians, you will always be left unfulfilled, disappointed, and dissatisfied. Living like this is a recipe for disaster.

Jesus told us, “Enter through the narrow gate. For wide is the gate and broad is the road that leads to destruction, and many enter through it. But small is the gate and narrow the road that leads to life, and only a few find it.” (Matthew 7:13-14)

Don’t just follow the crowd blindly. It leads to destruction. Take the road less traveled. 

Many go out and buy the new car, bigger home, or the latest fashion brand just to fit in with others.

Don’t waste your money. Think twice before you spend money on the non-essentials. First, cover your basic needs.

If you really want it, save up for it. If you can afford it, then go for it, but make sure that you don’t compromise on your money management just to keep up with the “in” crowd. Many chasing the crowd are left cash-strapped and with a debt hangover. 

I know it is nice to drive the brand new BMW or have the latest iPhone, but the extra expense and repayment can set you back in achieving your dreams and building your wealth portfolio. 

You may think that you need that “latest new thing,” but the truth is that most people are too absorbed in their own lives to even notice what you do have or don’t have. That latest handbag or gadget may make you feel good for a day or two, but it will not bring lasting satisfaction. That new thing today will be old and out of fashion in a few months from now, but you will still need to continue paying it off…

Dave Ramsey said, “Many people buy things they don’t want, with money they don’t have, just to impress people that they don’t even like! “

This is not how to live. Be content. Stay out of debt. Watch your spending. Save before you spend. Live within your means. Don’t try to keep up with the Joneses. Before you buy that thing, ask yourself, “Is it worth it?”