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Optimal Finance Daily - Financial Independence and Money Advice
2464: Why Keeping Up With The Joneses Will Make You Broke by Michelle Schroeder-Gardner of Making Sense of Cents
Sep 29, 2023
Michelle Schroeder-Gardner, a financial blogger who paid off $38,000 in student debt, talks about the detrimental impact of keeping up with the Joneses and how it can lead to excessive debt and unhappiness. She offers practical tips on breaking free from the cycle of comparison and prioritizing individual financial goals. The podcast also emphasizes the importance of gratitude and appreciating what one already has.
09:09
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Quick takeaways
- Keeping up with the Joneses can lead to financial trouble and unhappiness.
- To break the cycle of keeping up with the Joneses, it's important to focus on one's own life and goals.
Deep dives
The problem with keeping up with the Joneses
Keeping up with the Joneses can lead to financial trouble and unhappiness. People may spend beyond their means, accumulate debt, and constantly compare themselves to others. This can hinder progress towards financial goals and prevent saving for the future.
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