Why Must We Keep Up With the Jones’

Why must we keep up with the Jones’? Have you ever met the Jones’? They live all over the world. You can’t get away from them. I remember when I was a kid my dad would say “We can’t keep   up  with the Jones’”. I never knew what he meant until I got older. This statement basically means quit trying to keep  up  with everybody else. Have you known someone who bought a brand new car and could not wait to show it  off ? How did that make you feel? If you are like me, it made you want to go out and buy a new vehicle even if there was nothing wrong with your current vehicle.

That’s the world we live in. We always want what we don’t have. As soon as you get it, you still want more. It is a never ending cycle. I don’t believe it is just our fault. Now, don’t get me wrong for what I am about to say, but it seems as though the world we live in makes it a little to easy to get ourselves in debt  up  to our eyeballs. Of course, we are the ones that are ultimately responsible in the end, but does anyone think we are a little out of control? Look at our poor homeowners and all of the Adjustable Rate Mortgages that are forcing people to file bankruptcy on homes they can no longer afford. What about 50 year mortgages? Are you kidding me? Is someone really going to live in a home for 50 years? We change houses at least 3-4 times in a lifetime.

How did this happen? Somebody decided that we needed to live in a home we really could not afford, and came  up  with a plan to allow this to happen. By temporarily offering a lower payment for a few years, selling us on the idea that in a few years when our payment goes  up , our financial situation will be in better shape. Since when are there any guarantees in life? I know of only two;  pay  taxes and die. I would love to see the financial institutions tighten  up  their belt on the percentages that are used to determine how much house one can afford.

Imagine if you were only allowed to buy a home that cost no more than 2x or 3x your yearly salary? What would that do to our finances? I believe it would free you  up  to actually  take  care of things that come  up  unexpectedly every day. Little things like: roof repairs, replacing windows, broken showers, gutters, tree removal, babies, medical bills, braces, clothes and how about college funds for our children or what about some money set aside for retirement. Quit spending your money keeping  up  with the Jones’ and get yourself on tract  paying   off  the debt that you have. You will be surprised how fast you can get yourself out of the hole you are in and really start living.

Post time: 11-15-2017