It’s Not About How Much You Spend But How Much You Keep
Let’s face it. We live in a consumer minded society pretending to be happy with materialistic things. If we’re not spending money on things, then we’re simply not happy. After all, where do you think the expression “retail therapy” comes from? Media teaches us that we need to have the latest clothes, the latest in technology, the biggest houses and the most luxurious cars to be considered successful, yet too many of us put up a front and appear to be someone we’re not.
If you don’t have a savings account, there is no reason you should be out there spending hundreds of dollars out of your checking account. If you don’t own a home, there’s no reason why you should be out buying a BMW or a Mercedes Benz. Moreover, you shouldn’t be out clubbing all weekend if you’re not happy with your job. Why would you if you’re going to be miserable when you’re right back to reality on Monday morning.
My point is simple. If you earn a $50,000 salary there is absolutely no reason why you should be spending over $80,000 a year. Stop pretending to be something you’re not because you’re only hurting yourself in the long run. And for what? To impress a few people who don’t care, or might not even know you? I’ve personally met several people who only make $50,000 a year and are financially better off than some individuals I know earning 6 figures. Overspending is the greatest factor preventing you from making progress. Learn to live within your means by spending less than what you earn.
The biggest mistake being made today with young adults especially, is that they spend more than what they earn to simply show off what they don’t have. I can’t tell you how many women I have seen in supermarkets with a Michael Kors purse taking out a food stamps card to pay for their groceries. Guys are guilty too! You wouldn’t believe how many guys I know that camp out for a Jordan sneaker release ready to spend their entire minimum waged paycheck.
It’s honestly a sad sight to see.
Will Smith said it best when he stated:Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't likeClick To Tweet
Social media has tainted our society by portraying advertisements that influence people into creating this illusion of a grand lifestyle. Many make it seem as though they’re wealthier than what they actually are by going to extremes just to post a “lifestyle” type of picture. Rappers especially; showing off big chains, luxury cars, mansions and vixens to prove their “success”, when in reality many of them end up going broke because of their poor money management skills.
If you really want to get ahead in life financially, then really analyze how you’re living. Think about how much you’re really spending on things you don’t need to impress people who don’t pay any of your bills. If you’re struggling to maintain the current lifestyle you’re trying to show off then STOP. Chances are the people you’re trying to impress are also struggling as well. Stop spending what you don’t have, humble yourself and learn to live with what you do have.
If you want to learn how to earn more income then read this
Stay humble. Spend less. Invest more.
Educate yourself on how the rich get richer and learn why the poor get poorer.
Old Navy Shirt $10 | Sketchers $50 | Walmart Jeans $21 | Net Worth – Billions
Burberry Shirt $500 | Jordans $150 | True Religion Jeans $210 | NOT Worth – Billions
Don’t get me wrong, there’s nothing wrong with treating yourself and buying nice things. Just ensure that you can truly afford them without it negatively affecting your bank account. Get your assets in order before you focus on acquiring more liabilities or relatively worthless assets.