You’ve probably heard of the phrase “keeping up with the Joneses,” but did you know it first appeared in a comic strip back in 1913? Use of the expression became a way to refer to people who focus on comparing themselves to their neighbor. A lot has happened since then and thanks to social media, “keeping up” has been taken to a whole new level.
In this episode of Couchside Conversations, Modearn™ Advisors Beau Wirick and Stacey McKinnon discuss the challenges of being influenced by those around us, and the complex nuances that may come with having a circle of affluent friends.
*Here are some key takeaways from their discussion:*
• Social media can breed an unhealthy level of comparison as it exposes us to a wider range of competition outside our immediate circles, including public figures/celebrities, which intensifies the pressure to conform and “keep up” more than previous social landscapes.
• Engaging with more successful individuals can be beneficial, as their habits, goals and lifestyles can influence and potentially improve your behavior.
• It is pivotal to evaluate your own intentions and ask yourself whether your actions/motives are purely for societal appearance to ensure your life is fulfilling and honest. Reflect on your friendships to see if they are meaningful or if one or both parties only values the relationship because of the status it brings.
• Try to be open about financial limitations with peers which can prevent uncomfortable situations, such as overspending in social settings. Real friends who genuinely value your friendship will understand.
*Keep watching towards the end to catch our “This or That” segment where Beau and Stacey ask these rapid fire questions to each other:*
• Save to buy the perfect thing or spend now to get the good enough thing?
• Bigger home or bigger savings account?
• Go on vacation but never eat out or never travel but eat out as much as you want?
• New luxury clothes or new luxury car?
• Keep up with the Joneses or find new friends?
