Don’t Try to Buy Your Way to Status, Earn It Instead
We are all victims in the race for status advancement. Society demands from us a bigger house, a nicer car, and more toys. However, if your quest for status starts with buying things, you may want to rethink your strategy.
As personal finance site Done by Forty explains, buying status symbols rarely correlates with actual status upgrades. You may look like you are better off, but in reality you are worsening your financial situation without improving your life. Especially if you are in debt for these purchases.
Since our purchases are made possible by debt, many of us resort to some kind of deception. When we spend more than we earn and go into debt, we get the impression that we have more disposable income than we do. As a country, we buy more than we can afford in order, ironically, to convince each other that we can easily afford it all.
Of course, you can spend money on anything that makes you happy. However, if that is the status you want, you will make a big profit if you learn a new skill, improve your career, or invest in your family. The status you can buy is fleeting, but the status that comes from working hard and investing time in others is much more difficult to obtain.
Your purchases won’t buy you Class | Powered by Forty via Rockstar Finance