Everyone is talking about ways to stay rich and steps to take to make wealth. But not much is being said about things one does to make them broke. Personally, I like to balance equations as much as I can. So while talking about things to do to make one gain financial freedom, it is also important that you need to know that you can also be financially destroyed if you don't take precautions. And this what we will discuss in this article
The easiest way to go broke is seeking to impress people. By this I mean, trying to spend more because you want to show people how wealthy you are. When you seek status more, you end up spending so much money because of course you want to keep up with the Joneses.
I have this uncle that I admired so much as a kid. Then he use to drive the latest car and lived large. Whenever we saw him back them, all the kids will come out to greet and we even had to fight over who would open the gate for him to drive in or out because we were sure he would drop something for the boys.
This uncle of mine was at every occasion. He would throw money into the crowd and everyone cheered him for his generosity. I preferred to be around him than even my own dad because he would always buy stuff for me every single time he came around. On holidays, I would gladly go over to his house to spend quality time with him and his family.
If I tell you that this uncle of mine currently has no building attached to his name will you believe? I mean a man of that status back then should investments here and there right? Unfortunately, he is now begging to survive and feeds from hand to mouth. His downfall started when he was more concerned about the praises he got from people rather than finding himself financially and saving up for his future.
A lot of persons fall into this category today. They prefer societal validation over their own peace of mind. In every occasion, you find them there throwing money up and down and looking for who will sing their praises whenever they show up. I see all these things especially amongst celebrities on social media.
And one is forced to ask why the show-off? Is it really necessary? Comparing yourself with others, does it show a sense of maturity?
Personally, I don't like people who show off every time. That's why I have issues with people who give to people and tend to document it for everyone to see. I am of the school that alms giving should be done in private. Because if you decide to show the whole world that you are helping someone, you are nothing but a hypocrite.
Conclusion
You should seek wealth and not societal validation. If all you do is keeping up with people then you are heading for a financial downturn. The goal shouldn't be to compare yourself with others but to build wealth.
Sometimes, what makes people fall into this trap is their constant use of social media. Social media makes you think that everyone is rich. And because you are seeing those things, you want to join them to live that same life.
To help yourself, try to occupy your mind with something else and do not forget what is the goal is:Get rich and stay rich.
Thank you for reading