The Truth About Keeping Up With The Joneses

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Опубликовано:

18 сен 2024

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Комментарии : 82

@MoneyGuyShow 6 лет назад

*Sign-up for The 30min(ish) Financial plan today! www.moneyguy.com/30-minuteish-financial-plan/

@Billtokarski 6 лет назад

Another cool thing about you guys being Southern is I can listen on 2x speed and not miss anything .

@MoneyGuyShow 6 лет назад

The list of benefits of being Southern keeps getting longer and longer! Thanks for watching William.

@damcrac 6 лет назад

Brilliant.

@johnrakthai 5 лет назад

William Tokarski 😂😂😂

@computerscientist5953 5 лет назад

I've realized that a big part of my life is coping with everyone around me. Not only from the personal development perspective (I'm a researcher in Computer Science, so I have to constantly grow intellectually and stay up to date with new technologies), but also from the financial perspective. "Oh, they got the latest iphone", "wow, they went for vacation there...", "they bought a fancy house", etc. This is all crap and just a waste of energy and time. Thank you, guys.

@madeline5175 6 лет назад

I recently read "The Millionaire Next Door". Many great concepts and very helpful. I'm 26 and unfortunately haven't dedicated much to my 401k. I have some debt and have used Dave Ramsey principles to gain traction in my financial life. Listening to you guys is super helpful!

@MoneyGuyShow 6 лет назад

Keep up the great work M M! So glad you find our content helpful.

@chrysiarose 5 лет назад

I grew up in the era when a woman expected to be married, and own the matching china for company, the special silver for holiday occasions, everyone's houses in the neighborhood had similar furniture (and similar standards of upkeep and cleanliness) and there was a sort of competition to maintain, but if you were getting uppity, it was time to move to a wealthier neighborhood. That life has vanished. I am now working full time, and desperate to get rid of the matching china, and other items and get down to where I can move at a moment's notice for work. The stability of the past has vanished for the most part. We also didn't save; we were always going to be "okay' somehow. Pensions, social security. All gone. The younger generation gets it. We didn't.

@2legit2Kwit 4 года назад

Caitlin Broza great comment🍓

@debbieframpton3857 3 года назад

My social security is 1069 a month I feel that I live pretty good 200 that mount go straight to saving I pay my bills no mortgage no car payment no charge card debt just your typical utilities whatever is left from that I divided by how many weeks till my next check that's what I have to live on each week I dine out two times a week with friends I have saved all my stimulus checks I don't need more stuff I do have a small Roth IRA and 401k and enough liquid savings to last me a year. So yes you can live on Social Security

@2legit2Kwit 4 года назад

I think Instagram, fb and the competitive game of social media has jacked our minds up. We compete and compare ourselves.... I own the smallest house on my street. It’s roughly 1000 sq feet smaller than the other owes (most of them are 3500 sq feet)... however, I hired an awesome architect to design it. It’s the smallest yet most well appointed with the best curb appeal. Keep that in mind... bigger isn’t better!!!

@marcushorwood7025 5 лет назад

The phenomenon is referred to as the "Big Fish Little Pond Effect" by Prof Herb Marsh. Although typically in the context of academic self concept, it effectively shows you compare yourself to your peers in your immediate environment. If you see yourself as not as accomplished as others, your self concept reduces. Works the other way (e.g., buying the wealthiest in a poor neighbourhood makes you feel more wealthy). Love your show, millennial property investor here from Australia. Shame you aren't here, otherwise I would definitely be applying for a job :)

@FaintAura 4 года назад

This 26 y/o is saving on average 50% of his gross income per month 💪

@MoneyGuyShow 4 года назад

On the path to becoming an Empire Builder 👍 - Congratulations!

@FaintAura 4 года назад

@@MoneyGuyShow Thanks y'all, love the content.

@ShamileII 2 года назад

I just came across this old episode. It's so true that only once you don't feel the need to keep up with the Jones, you have more freedom in life. You just don't care about "stuff" others have. I just recently sold off my paid for Lamborghini and paid for Ferrari and went to a little Porsche because I just felt like it. I just don't care what others think anymore....and it's so refreshing!

@1792dt Год назад

Not much of a downgrade but ok

@1792dt Год назад

I work at a gas station in a fairly affluent neighborhood. I see so many people with luxury vehicles and performance luxury vehicles. But they come to me asking me for 30-50 dollars for gas and im thinking, with gas prices these days it’s going to cost you at least 60-70 dollars minimum to fill the tank of that car plus it takes premium octane, listen these folks are putting in regular octane-theyr going to ruin the engine-but they cant afford to fill the tank with premium octane fuel like it requires. Also some folks come to me asking why their card isnt going through outside and on my computer screen it says the card got declined. And i look at where theyre pumping at theyre driving this luxury vehicle. There are a lot of folks that are trying to keep up with the joneses out there.

@cruisinusa5110 8 месяцев назад

Interesting observation.

@johnwaldron5244 5 лет назад

Love your guys view on credit cards. I am 29 years old and have never owned a credit card and have a 810 credit score. Credit can be built without the dangerous credit cards! Love your advice guys

@shantvincent782 2 года назад

Excellent video. I'm a relatively new viewer/listener and this was 100% worth my time.

@darrencollins1940 4 года назад

I appreciate your humility mixed with your abundant knowledge and passion.

@Pandorash8 3 года назад

My parents live in a neighbourhood where the properties are worth between US$515,000 and US$737,000 and typically have US$89,000 worth of vehicles parked in the driveway. It’s not a particularly affluent suburb, just middle class. I don’t know how everyone can afford it. But then I read recently that my country, Australia, has the largest debt per capita now. It’s scary. I’m thankful that I am in a financially stable position.

@1792dt Год назад

On my street the biggest homes have toyotas in the driveway-the smallest home has a fully loaded BMW in their driveway lol

@johnallencook5127 3 года назад

I'm not keeping up with anyone . I'm simply trying to elevate my individuality .

@williamhodge2506 3 года назад

That's very inspiring. Although, the "need" for me to keep up with the "Jonesses" kinda keeps me on my toes. All depends on how you see it.

@michelarosier1918 2 года назад

First. I feel this startment in my spirit.

@cray-vt4bk 4 года назад

I absolutely love your show. As a business owner, you have given me the tools necessary to work toward my dreams.

@selenacope899 6 лет назад

Brian, you gotta try ice coffee in your tumbler ;) I went to your website and signed up for the packet. I can't wait to go thur it. Thanks so much for all the free content. It really means a lot to us beginners.

@MoneyGuyShow 6 лет назад

selena cope, wii do! So glad to hear you are enjoying the content and that you signed up for the 30min Financial Plan. Thanks for watching!

@cris471 3 года назад

Just discovered your channel and subscribed. I really appreciate the fact that you guys speak a little slowly,

@2legit2Kwit 4 года назад

Warren Buffet still lives in the same house after forty years, never divorced, doesn’t constantly update his home... live simple and save save save.

@FrugalTeacherFI 3 года назад

*never divorced. Though he lived separate from his first wife for years and had permission to date other women.

@PedalToTheMetal61888 Год назад

...yeah mister bo haaaseen using micheal DELL THE WORKSTAION LAPTOP... ITS I-MAC COMPETITION ALONGSISE ASUS ZEN,,, AND ACER ASPIRE ... AND '' MAY GOD BLESS--- ''

@MNeuenswander 6 лет назад

Signed up for the financial plan. Bonus points if you go through it with your spouse!

@MoneyGuyShow 6 лет назад

Great to hear MNeuenswander! You and your spouse will enjoy it. If anyone else is interested, sign-up here: www.moneyguy.com/30-minuteish-financial-plan/

@toytalkers881 4 года назад

FICO scores are primarily based on how you handle CREDIT CARDS. So you must have one but PAY IT OFF monthly; you only have to use it once every few months and for a small purchase.

@EuanEllery 6 лет назад

I really like your discussions

@MoneyGuyShow 6 лет назад

Thanks for watching Euan Ellery! Glad you enjoyed the show.

@SeijuroRen 5 лет назад

I've never been called a financial mutant. I wear this label with pride.

@ensignmjs7058 4 года назад

Money freak!

@laura.redfield 6 лет назад

I signed up for the financial plan. My husband and I have a decent plan in place, but it never hurts to doublecheck your work, right? :) Apologies if you mentioned this and I missed it, but do you have any advice for how to handle family and friends who seem to see you as The Joneses? We live frugally and well within our means, but we have had people try to bait us into competition in the past... we have resisted the challenge, but I always wish that I had the right words to say to kindly tell them to get off that hamster wheel. Thoughts?

@MoneyGuyShow 6 лет назад

Laura Redfield, good to hear! The financial plan will be a great financial health check for you and your husband. To your question, you can't control what people choose to think about you. All you can control is your actions and how you treat others. It sounds like you an your husband are delaying gratification in order to grow wealth despite peer pressure. Great job! As far as educating people, The best approach would be to share with people what decisions you have made in your own personal life that are helping you win with money. Avoid the whole "you need to do this or that". Share from personal experience. Just as an example, if someone is having trouble paying bills month to month and they share that concern with you. This is your opportunity to show sympathy, share a similar story of how you were in a tight money situation once, and what steps you took to avoid that from happening again. Hope this helps. Thanks for watching and commenting!

@laura.redfield 6 лет назад

The Money Guy Show - Thanks for your thorough reply! We don’t seem to have any trouble resisting the temptation to ‘keep up’ with anybody, but it’s sad to see people close to us make their situation worse due to the need to compete. An example would be a neighbor couple who has been very vocal about how difficult it is to keep up with their bills, but then they will go and make an upgrade on their home (using credit) weeks after we’ve done ours (after saving up the cash). It’s obviously their choice to live that way, just as it’s our choice to delay gratification & save for things, but it’s troubling... I find myself feeling somewhat guilty when we get something new because I know they’ll try to ‘keep up’. :shrug: Humans are strange creatures sometimes.

@MoneyGuyShow 6 лет назад

Laura Redfield, our pleasure! You'll find a lot of freedom from guilt if you accept you're not responsible for what other people do with their money. Your heart is in the right place and you're doing the right thing, just don't let other people takeaway your joy just because you are making wise money decisions and they're not.

@toytalkers881 4 года назад

Many parents / grandparents transfer the max allowed by IRS to children to minimize estate tax later on. However, the children should invest that “gift” not use it to live.

@thing1and4 3 года назад

Put me on the "Money Guy Nursery Rhyme" wait-list.

@euenfheiejrj 5 лет назад

25 percent of gross income? I always thought it was 25 percent after taxes. I would never spend that much on a house.

@monicarenee7949 3 года назад

It seems like he meant net because he said “take home pay”. I think it was a slip of the tongue, I was wondering the same thing.

@jamesrobbins5347 3 года назад

Keeping up with the Joneses was started in 1913 if you ain't ahead of the Joneses with the electricity and a phone and just about everything we use in technology .I don't know what to tell you. I can't tell you a time that I've ever thought they were ahead of me for me to have to keep up

@jamesrobbins5347 3 года назад

If you're going to talk about them at least have an education on what they about and who they really were cuz I don't remember them cuz if it started 1913 I'd have to say they're dead or is it the Joneses great great grandchildren. I don't remember any rich or famous Joneses .Rockefellers ,Morgan's, Fords, but not a Joneses was I absent that day

@dividendinvestorpathtofree1638 3 года назад

I am currently investing 25% Net and looking to get income up and not not letting up on the percentage I may be even be able to increase my monthly investing amount as living only cost so much. One of my main goals is so that my passive income exceeds my earned income.

@ShApEsHiFt3r 6 лет назад

Hi guys, you're creating great content! I have sincere appreciation for your work because you're sharing nuggets of information that is gold, especially to someone outside the USA. In my country very few people get the things you're saying, let alone apply them. More often than not people laugh the moment you mention saving, because to them that's putting money aside in a bank account or under a mattress.

@MoneyGuyShow 6 лет назад

We appreciate it Alex, thanks for watching!

@tinawelch2545 4 года назад

Hi Alex, may I ask where you live and what the money culture's like there? Thanks for the comment!

@ihaveadreamformykids4400 Год назад

My cousins love to impress the People they don’t like. As for me, I like to keep quiet about our wealth. I’m at peace and I have no one to impress but God by doing good to others.

@rathelmmc3194 3 года назад

I would say the reason people should pay cash for a car is because most people will spend less when they’re forced to write a big check.

@johnrakthai 5 лет назад

Inspiring talk

@landlord5552 5 лет назад

Our house cost 75k€, what is only 1 year income. Now it is payed off. It is several millionaire on our street, but nobody show off here on Åland islands, so nobody feel bad.

@Eltipoquevisteayer 28 дней назад

So in conclusion: It is worth it, money DOES buy nice things and thus happiness

@YourMajestyTheKing 4 года назад

I am glad that i found self fulfillment by creating new pool move once every two weeks. sucks that covid forced all the pools to close.

@vovanminh999 3 года назад

I love the show like this .

@bkspielman0 Год назад

Just saying hello, from the 4th child in the statistic they present at 16:00 lol

@randomdude2287 5 лет назад

Great show guys. New Sub

@MoneyGuyShow 5 лет назад

Thanks for watching and subscribing Aven!

@randomdude2287 5 лет назад

I'm just hitting 40 w no debt and millionaire status by 60. So awesome to hear basic, time tested, advice that any one can do. You dudes rock!

@ramonedetroitguam6075 6 лет назад

I know all (most) this stuff..., keep up the good work.

@MoneyGuyShow 6 лет назад

Thanks for watching Ramone!

@victormendoza3295 Год назад

My neighbor got a semi so not sure I can keep up, lol.

@toytalkers881 4 года назад

Cash for a car or you can’t afford it.

@johnallencook5127 3 года назад

I work in good service to others .

@toytalkers881 4 года назад

Flexibility on payments is a disaster waiting to happen.

@KeesFW 6 лет назад

How does Brian go from buying the cheapest house in the neighborhood to being the poorest person in the neighborhood? There is no logic here. The poorest person maybe the one that bought the most expensive house in the neighborhood.

@MoneyGuyShow 6 лет назад

KeesFW, the main point was to "not fake it" by purchasing a house that you can't afford. So you're right, the poorest person in the neighborhood may own the most expensive house in the neighborhood just to give the illusion of success. Thanks for watching and commenting KeesFW!