The Truth About Keeping Up with the Joneses!
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Keeping up with the Joneses is a phrase we have all used. And for some of us, it is something we have been guilty of by purchasing large dollar items to impress family, friends and neighbors, as opposed to satisfying a need.
Research has concluded, however, keeping up with the Joneses does not provide the type long-term happiness desired. Instead, finding solace in much simpler types of spending is not only much more rewarding but results in less financial stress as well.
What is Keeping up with the Joneses?
- The American expression “Keeping up with the Joneses” comes from a comic strip of the same name which ran from 1913 to 1938. The Joneses never actually appeared in the comic. The Jones’ neighbors were the featured family and always compared everything they did to them.
- Today, we use this phrase to refer to people who focus on appearances, especially when it comes to appearing “well off.” Often times, these individuals cannot afford many of the big dollar purchases they make, but do so because someone they know has.
- Maybe it’s the guy at work who drives a flashy car or the PTA mom who pays top dollar for weekly “manis and pedis” or the relative who has a big, fancy house, it’s hard to escape the influence of those around us who live seemingly wealthy, free-and-easy lifestyles.
The Truth About Keeping Up With the Joneses!
- When we try to keep up with the Joneses, we’re not usually trying to match our lifestyles to the 1% of Americans who can afford private jets and lavish diamonds. We’re just comparing ourselves to our nearest neighbors – probably the ones who look just a little bit wealthier than we do.
- However, if you could peak inside the Joneses’ bank accounts, you might not get such an enviable picture.
- Here’s the bottom line: Many Americans live beyond their means. A recent Bankrate survey found that about one-third of people ages 30 to 49 had more credit card debt than savings. And we can guess that at least part of that debt comes from living beyond their means.
- Chances are, those neighbors you’re struggling to keep up with are living beyond their means, too.
- For people who used to watch The Jeffersons, you may recall how George Jefferson always wanted to impress, Mr. Whittendale, the owner of the building in which he lived. He thought Mr. Whittendale must be rich only to later find out it was Mrs. Whittendale who had all the money. In fact, it was Mr. Whittendale who changed his surname when he married his wife and lived in constant fear of being fired by her.
Let Go of the Pressure!
- If your goal is happiness, keeping up with the Joneses is not the way to go.
- The most recent research on money and happiness has revealed that day-to-day contentment is impacted by financial security, however, it’s not affected by how much you have.
- In fact, the best ways to spend money to get happier are to splurge on experiences like vacations, dining out, or buying things for other people.
- So having a nicer car, bigger house, or even the latest iPhone probably won’t make you happier – at least not for the long term.
- Plus, overspending on material items can, and will, eventually drag down your financial stability, which will only make you more stressed out and unhappy.
What to do?
- Next time you’re about to make a big purchase take some time to examine your motives. Are you purchasing this item or service because you really need it? Because it will make your life inherently better? Or because you’re worried about what your neighbors or family will think of you?
- If the answer is that you just want to look more successful, walk away. Spend some time with the people you love for a “happiness recharge,” and wash those Joneses right out of your mind.
The key to success is to live below your means! And remember, the best things in life – walking, jogging, hiking, exercising, playing in the yard, conversation, worship, smiling, etc. – are free! So, instead of keeping up with the Joneses, be the Joneses by focusing on the things in life that are free and truly make you happy!