Do You Keep Up with the Neighbors?

in LeoFinance2 months ago

One of the fundamental components of sound financial management is having a budget. Where your money is going should be known to you. Successful business executives understand how crucial it is to understand their cash flows and balance sheets, thus, no successful company exists without one. And neither should you.


Doing what is necessary to provide for your family's necessities while being financially responsible. You must internalize this in order for it to happen. Your neighbors don't pay your bills, so you shouldn't let their spending patterns or the style of living they maintain influence your own.


Is saving and frugality a requirement of being financially responsible? Maybe, but only if doing so will help you avoid going into debt. On the other hand, if you are Elon Musk, you might have no trouble affording two jets. This excess may be despised by those of us with lower incomes, but that doesn't mean we should mistake it for being irresponsible with our money. Purchasing something that you can afford to pay for is not, in fact, being reckless.


Living within your means, regardless of the amount of those means, is the ultimate definition of financial responsibility. In order to establish yourself on sound financial ground, examine your financial status carefully, assess your earning and spending patterns, and make the required modifications.

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it can be easy to let it get away when just using cc

Yes @doitvoluntarily! It takes discipline!!!
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Spending is not synonymous with economic mismanagement, the bad thing is spending beyond our means. If you also get into debt for this, that is the perfect recipe for ruin.
You simply have to take the income, remove 10% for savings and that's it. It is easy to say but sometimes very difficult to do.

Well said, @florakese!!!
But, difficult to do at the onset when you are starting from a deficit. It gets easier with time!!! Many, many people have done it, including myself.
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I'm reading a book called Anti-climax.
The first part was good.

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This is really nice and thanks for sharing.

You're very welcome, @emeka4!
Have a wonderful day.
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I taught this lesson to our sons.... Their classmates would have cars given to them, cell phones given to them......
I wanted my boys to understand the principle of working for what you desire @silversaver888 !😇😀

What is that saying again... if you you're not willing to work for it, then you don't deserve it
Hahaha, a good lesson, @silvertop 😀!
!WINE

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That's very true @silversaver888 ..... Many people up here just want things given to them, they are not willing to work ....so sad my friend.......

How about keep up with advertising! My issue with Instagram is that I tend to peruse the latest subculture fashions and I daresay tempted to deploy the credit card for a fancy outfit. I don't really have any closet space anyway. I have to focus and not waver in Stacking.
Have to let pass the 15% off Demonia Goth Boots.
"Curse you Google!"

Always, with love 🤗🌺❤️

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Yes, sis! It takes a lot of discipline!
My next scheduled article is about advertising!
We think alike, sis.🤗
!LADY 😍🌺🤙

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I intentionally buy houses with no neighbors. That way there's no competition or dick measuring..

That's one way of doing it, hehehe!
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You are totally right, have a budget it's necessary for our financial health... İn other hand i would like to be like Elon Musk. İ can say you @silversaver888 I'm going to take with you a cup of coffee wait for me because I'm going to take my personal airplane.

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You and me both! We can take our respective jets and meet in Paris! That would be so lovely, sis!
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Omg. İt would be great. You can imagine we both in a beautiful cafe in front of the Eiffel tower!

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I have never been one to try to keep up with the neighbors. I think it's kind of stupid to live life that way; you would always be so obsessed with making sure that you were, that you wouldn't really be living life. It would be their life you were trying to live!

However, you are right; we should not live beyond what we can afford to. That makes sense!

Thanks for sharing sis; love ya much!🤗😘💞🌸

Everyone occasionally splurges and spends a bit too much. But for some, "keeping up with the Joneses" develops into an obsessive behavior that might bankrupt them.
No matter how much money someone produces, if they continue to spend more than they make, their financial situation will eventually deteriorate.
Everybody, from common Americans to the wealthy and famous, experiences "Keeping Up with the Joneses" when they file for bankruptcy and lose their homes to foreclosure.
And social media is no help!
Hugs and kisses, sis 🤗
!LADY 😍🌺🤙

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Such great advice! Trying to make our lives look like other people’s will only make us broke AND unhappy! I see so many people doing this in my age group, and I can be guilty of it to. It’s hard to remind yourself that who you impressed will not matter in a decade! Living within your means gives your means room to grow 😁

Being responsible for your own personal finances is key, and the sooner you get a handle on that, the better. Always live a little below your means; it will result in a much better quality of life later!
Hello @grindan! Have a wonderful weekend!🤗
!LADY 😍🌺🤙

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I like this great information. It is wiser to live within your means !

Indeed, live within your means. Regardless of what your neighbor says or does, they don't pay for your expenses.
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These stocks of silver coin will be worth much

Yes indeed!

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In Your California Ms. Saver @silversaver888
Canadian Geese in Huntington Beach............

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Why are brain surgeons so good at persuasion?
They can really get inside your head.

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