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Ever hear the term, “Keeping up with the Jones’.” It comes from the notion that your entire self worth should somehow be on display: your house, your car, your gasp boat so that you can impress your neighbors. Here’s what nobody tells you about the Jones family – they'll never pitch in to pay your bills and you're lucky you don't have to help them out with theirs. Sure they look like a million bucks on the outside but if you were a fly on the wall inside their McMansion you might hear some interesting conversations.
The fact is that the vast majority of people that acquired everything from a sports cars to Harleys to breast implants to that 5,000 square foot house did it by shouldering massive debt burdens and every day they pay a stiff price for their lack of financial discipline.
If you're really going to be cheap - you need to embrace sensible consumption habits without being ashamed of it. If a co-worker thinks less of you because you are driving a 7 year old Camry, shrug it off because you can be certain that a good chunk of their paychecks goes towards car payments and that's an expense you can do without. If friends tell you that you need to trade your little condo for a bigger house, thank them for the advice and go ahead and stick with your plan to pay off your mortgage in 8 years and be done with it. When an old friend brags about his family trips to Hawaii, tell them your plan is to live their 3 months a year when you semi-retire at 45. If anyone questions why you would be cheap, just tell them, “that’s the way I do things, you can do it your way, but my way makes sense” –because it does.
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