Morning news television shows aimed for stay at home moms are one of my weaknesses. They are so entertaining and I love all the great advice they offer. My morning routine consists of The Today Show, Live with Kelly, and then The View. I never have enough time to watch all three in a row, but I make sure to catch at least part of one everyday- just to stay in touch.
This morning on The Today Show they offered some money advice. This is always my favorite part of morning shows. They always have such great tips. Usually they are ones that I already know, but it is always great to be reminded.
Today’s tips included this great fact: If you want to keep up with the Joneses, be prepared to go into debt.
The temptation to keep up with other people is always there. It is hard not to compare yourself to others, especially your friends. There are times that I see my friends do things that I want to do too. However, if I did everything that my friends did then Tom and I would be in debt. I love the fact that the only interest bearing debt that we have is our mortgage and student loans.
Today I made the decision to pay down a new bill we acquired by purchasing a new A/C. By paying it off over the next 6 months we will not have to pay interest. But I have to tell you I was tempted to pay the “minimum payment” and use the rest for some book shelfs that I really want in our living room.
So, I am happy to announce that I will not keep up the Joneses. I don’t have to spend money to impress other people. At the end of the day we have to make ourselves happy and being in debt does not make me happy.
How do you feel about the pressure to keep up with the Joneses?
You are so right. Debt is a hell hole that keeps getting deeper and eats away at ones’ soul.
I think a big part of the keeping up with the Jones’ behavior comes from the environment in which you live. Whenever I go to New York I almost ALWAYS feel like I am out of style, behind on the trends and “homely.” I’m always tempted to go shopping right then and there, but as soon as I get back to the ‘burbs I feel like I’m just fine. Having friends with frugal spending as well makes it easier and lowers the temptation to indulge.