Breaking Free From “Keeping Up With the Joneses”

< Back to Money Minute

“Keeping up with the Joneses” we have all heard it. Similarly, at some point in our life, maybe you have kept up with them. I know I have. But what does it mean trying to “keep up with the Joneses“? Why do we feel compelled to it? In this blog, I’ll discuss ways to stop and break free from “keeping up with the Joneses”.

“The grass is always greener on the other side”, that’s my first thought when talking about “The Joneses”. With social media ever present allowing us a snapshot into someone’s lives, comparing ourselves to others, is always present. In addition to comparing ourselves to friends, co-workers, neighbors, or other people closer to us. Comparisons seems to be inevitable but when related to your personal finances, it doesn’t need to be. Every person’s financial situation is different. This ranges from goals to income to debt to savings and everything in between. If you are constantly looking for what others have, it makes reaching your goals much harder. Below are a few steps to reach your financial goals instead of comparisons stopping you.

Focus On Your "Why"

What gives your purpose and joy in your life? For me, it’s my family and spending time together. If your purpose and joy is different, that’s wonderful. Maybe its excelling in a sport or music. Maybe it’s being a great friend or traveling or something completely different. Regardless of what your “why” is, it’s important to know.  Therefore, you are confident in your building your life and financial goals around it.

Support Your "Why"

In addition, once you determine your “why”, the next step is knowing what you need to provide and foster it, finances included. By connecting your “why” and your finances you can continue to build confidence and opportunities to do what you want. Plus, you’ll focus less on what others are doing. What sort of job and income do you want/need? Separate of your financial necessities, what items should be part of your budget. What are you saving for?

Enjoy Your "Why"

Above all, now that once you have financially achieved your why,  ENJOY IT! Be present. All the hard work and planning you’ve done to bring you happiness will outweigh comparing what others have/did.

In conclusion, when we are present in our life and finances, the weight of what we don’t have ends. We focus on what we do have. And that allows us to break up with “The Joneses”. If you struggle with the comparison game, financial coaching can help you break free from the comparison trap. You’re coached to make mindful choices and prioritize your financial well-being over the pressure of keeping up with others.

Bonus Tip

Instead of comparing your situation with others, shift your focus to celebrating empowerment. Acknowledge those who have positively impacted your financial journey.

< Previous Next >

Get Started with IRIS

Financial health happens when you partner with IRIS! Securely submit your financial information to IRIS and receive a free, comprehensive financial plan within hours! This plan is reviewed by one of our live Certified Financial Specialists. It's the first step on your journey to financial health!