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Mistake #6 - Keeping up with the...

Continuing our series of articles on the 7 most common mistakes keeping us stuck in debt, we look at why trying to keep up with certain social expectations and fantasies are not worth the long term consciousness.

These days, it’s not just about keeping up with the family next door; it’s also about keeping up with the virtual 'Joneses' online. It really is a complicated and visually driven world we live in today.

Social media, especially Facebook, has created a sort of virtual competition among users.  The Facebook Joneses often share photos of fabulous holidays, new cars & great houses. They have successful careers and they never have a bad day at work. Or a bad hair day. Their children are honor students, star athletes, or president of the student council. Or all three!

Don't fall for it. Think of the Facebook Joneses as the virtual version of the annoying friend or relative who appears to have a perfect life. Maybe half of what you see is even true, but it’s still enough to get you to question your life and compare it to someone else’s who seems to have more money than you.

The emphasis here is “seems.” Honestly, there’s a good chance that the Joneses, either the real version or the Facebook version, are in debt up to their eyeballs. That’s the part you don’t see.  When it comes time to pay the bills, is it worth it to be in debt? Stop worrying about what others think and live your life debt-free. You’ll not only be happier than the Joneses, but you’ll also have an emergency account and a retirement fund.

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