2min chapter

Optimal Finance Daily - Financial Independence and Money Advice cover image

2464: Why Keeping Up With The Joneses Will Make You Broke by Michelle Schroeder-Gardner of Making Sense of Cents

Optimal Finance Daily - Financial Independence and Money Advice

CHAPTER

Introduction

Exploring the financial instability caused by trying to match or surpass the material possessions and lifestyles of others.

00:00
Speaker 2
We are Brad, makers of the tried and true apple cider vinegar that you've had in your cabinet for as long as you've had a cabinet. And you trust that bottle sitting in your cabinet because we were in your mom's cabinet and her mom's cabinet. You use us as a wellness drink. Your mom used us in salad dressing. Her mom's mom used us as a glass cleaner. And while there are many ways to use us, one thing is always the same, our recipe. It has never changed since we've been putting cabinets. Brad, it's not weird if it works.
Speaker 3
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Speaker 1
Finance Daily, episode 2464. Why Keeping Up With The Joneses will make you broke by Michelle Schroeder Gardner of MakingSenseofSense.com. And I'm your host and personal finance enthusiast, Diana Mariam. We're going to get right to today's post as we optimize your life. Why Keeping Up With The Joneses Will Make You Broke by Michelle Schroeder Gardner of MakingSenseofSense.com I'm sure almost everyone at one point in their life has felt the need to keep up with the Joneses. Whether you're 5 years old and want that new toy everyone's playing with, or you're 50 years old and are feeling the need to upgrade your house or car, everyone has experienced it. The problem with this is that Keeping Up With The Joneses can actually make you broke. Very broke. When trying to keep up with the Joneses, you might spend money you don't have. You might put expenses on credit cards so that you can, in a pretend world, afford things.

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