When YOUR neighbors buys a Jaguar…

Posted on July 15, 2008. Filed under: -- Building Wealth, -- For The Investor In YOU, -- Money Help (in simple terms), -- Saving Money And YOU, -- YOUR Retirement | Tags: , , |


By Molly Greaves

If one of your neighbors buys a Jaguar, it looms larger in your mind that the mini-van that your friends and other neighbors drive.

I know this sounds crazy, but I offer you some unconvential advice: if your high spending pals are a problem, find some new ones. That doesn’t mean cut them off, just maybe add some new one’s to your circle that enjoy “free” things like volunteering, going to the park, exercising, meditating, etc. Anything that doesn’t require consumption!   You could even join an investing club!!

It’s no secret that our spending habits are driven in part by the crowd we’re in. But there’s more going on here than envy and status seeking. Most of us don’t like keeping budgets or doing the math. When deciding whether a a big expense is reasonable or not, people often take mental shortcuts when trying to figure things out.   

PS-Until you have an emergency fund built up, don’t even think of eating out! 

PSS-If you cant afford to quit your job for 30 years, than how do you plan to pay for retirement?

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