Tip 96: Stay off the hamster wheel
I sometimes feel like my family and friends are in a different socioeconomic group than myself. It seems like everyone around me has newer, nicer clothes and fancier technology and stuff. Maybe I should buy new stuff so I can be more like everyone else... That is the kind of thinking that can get you on the hamster wheel of debt.
There will always be a newer, blingier cell phone that you don’t have. Someone will always have a newer car or newer clothes than you. As soon as you buy something and take it home, it is no longer new. I try to focus on functionality instead of having new things. Do I have a car that runs and is reliable? If so, what more do I need from a car? Do I have a cell phone that works so I can stay in touch with my family? If so, what else do I need? Do I have clothes that allow me to go out in public without embarrassment? Well, maybe... My kids are pretty embarrassed by my old clothes, but I think they would be even more embarrassed if I tried to wear the latest clothing styles. The shirt I am wearing now is at least 10 years old. I bought the jeans I am wearing at K-mart in 2009 for $8. I would be more embarrassed to wear expensive clothes- I would rather have money to take care of my family than spend it buying expensive clothes for myself.
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