Why you shouldn’t keep up with the Joneses
“Keeping up with the Joneses” is a phrase often used in the western world.
But who are the Joneses? And should you keep up with them?
The Joneses are people who appear to have it all and do it all. Maybe they are people in your real life. Maybe they are people you follow on social media. Whoever they are, it’s possible that at one point or another you have felt the urge to be just like the Joneses.
The problem is: what you see is not the whole truth.
We are living in modern times where snippets of our lives are posted for the world to see. These snippets are the ones people want to show the world. They are the pictures of glamour and luxury. They are the pictures of “We made it”.
It’s hard not to get caught up in the allure of it all. Those marketing geniuses know EXACTLY how to get us to buy what they’re selling. Let’s be honest, we’ve all been there.
I’ve been there one too many times.
So what is the whole truth?
You don’t really get to see what’s going on behind closed doors with the Joneses: they are likely broke. According to consumer research by CommBank:
One in three Australians say they couldn’t come up with $500 in an emergency
One in three Australians say they couldn’t handle a major unexpected expense
One in two Australians say they wouldn’t have enough to handle a temporary loss of income
Back to the Joneses. That $80,000 luxury vehicle? Behind closed doors there may be a bank statement showing a $982 monthly deduction for a car loan.
A gorgeous home in a highly sought-after area? Behind closed doors, there may be mortgage stress.
A third holiday this year? The credit card bill can be sorted out later.
Collectively, Australians have a purported $38 billion in credit card debt. Yes, 38 BILLION dollars.
Look, I don’t judge the Joneses. But I also don’t want you aspiring to have, be or do things that emulate the Joneses - unless you can genuinely afford it without going into debt.
Also, if you have a luxury car that is paid off or own a beautiful home in a sought-after area, I sincerely applaud you. Keep doing what you’re doing and smashing your financial goals. Just know you are in the minority.
All of this to say: Run your own race and please stop comparing yourself with the Joneses.