This video is about 8 minutes long. The presenter discusses how, basically, chasing status can hinder us financially. It might seem like common sense to some people on here who tend to be a bit older, but it's well-stated and might be worth a watch. Younger people especially seem to be enamored by the appearance of affluence so popular in social media and they can end up overextended.
I started thinking about this from reading and following reviews on cars. To paraphrase, stuff like this:
I keep mentioning cars because it's a key offender in status-chasing, but there are many other areas. And, of course, there are people out there who can afford seemingly lavish purchases without becoming overextended. Just food for thought regarding keeping up with the Joneses.
I started thinking about this from reading and following reviews on cars. To paraphrase, stuff like this:
- "This car costs $35k so it's for someone just getting started out in their careers."
- "If your salary is x per year, then you are probably looking for a car that costs y."
- "You might as well lease a car because most people only keep them 3-4 years."
- "I just graduated college and I need a brand new, loaded vehicle because I have to have reliable transportation."
I keep mentioning cars because it's a key offender in status-chasing, but there are many other areas. And, of course, there are people out there who can afford seemingly lavish purchases without becoming overextended. Just food for thought regarding keeping up with the Joneses.