Dominate Your Financial Destiny

Dominate Your Financial Destiny

My Strategic Dollar M$D Wisdom 10 Comments

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I had the opportunity to write a guest post for Distilled Dollar back in May. In this post, I talk about my encounter with a couple that looked like they had it all together and why it may not be exactly as it seemed. I experienced a similar situation/feeling recently and thought I’d bring this back around.

Check out my article below and don’t forget to check out Distilled Dollar.

Dominate Your Financial Destiny

Do you ever try to analyze random stranger’s financial situations? I was at the gym recently (see I didn’t get rid of my membership!) when I noticed this couple working out. They are at the gym almost every time I go. EVERY. SINGLE. TIME. Through these informal experiences, I’ve noticed a few things about this couple:

  • They’re both incredibly good looking
  • They’re both in extremely good shape
  • They’re both so trendy (clothing, accessories, personal equipment, etc.)
  • They seem very happy

I was done with my workout, so I was walking to my car in the parking garage when I noticed they were walking just in front of me. What happened next? THEY GOT INTO AN ASTON MARTIN. And not just any Aston Martin, an Aston Martin Vanquish. That’s a $300,000 vehicle. It’s a beautiful car and I immediately felt car envy.

Do They Dominate Their Financial Destiny?

Then my analytical mind kicked in and I began asking myself questions about their life. For starters, this car probably has at least a $5,000 a month car payment. But of course, they can’t afford that because they’re probably broke. But how could they qualify for the car payment if they’re broke? Maybe they make enough money but spend it all on expensive items like this car. Then I started making assumptions – do they own this luxury vehicle but live in a run-down home or apartment? Are they spending all their money on STUFF, but have nothing in savings or in investments?

On the flip side, do they really have THAT much money that a $300,000 vehicle is a drop in the hat? Maybe so. Maybe my envy had gotten the best of me and I was now just being an ass.

Do you ever find yourself asking these same questions? I do it all the time.

And you know what, the truth is – YOU NEVER KNOW THE ANSWER. Personal finances are held so close to the chest that you just don’t have any idea. And that’s ok. You own your own financial destiny. This means always doing what’s best for you. Don’t get caught up in other people’s situations. We all start at nothing.

Dominate Your Financial Destiny

Don’t Other People Destroy Your Plans

It’s easy for your envy of someone else’s stuff to turn into you impulse buying something you can’t afford.Click To Tweet

Don’t do that. Keep a clear mind and focus on your own goals.

It’s easy to see someone driving a nice car, wearing nice clothes, owning the latest tech gadgets and try to appear “well off” like they are. Don’t do that. Realize that you know nothing about their financial situation. Owning the newest material items doesn’t make you cool.

It’s easy to max out your credit cards and get so deep into debt that you’ll spend the rest of your life trying to dig yourself out. Don’t do that. Cut up your credit cards, pay with cash and forge your own path.

Dominate your financial journey. Do it for you, not for other people.Click To Tweet

Have you ever questioned your own path because someone else seemed to be doing it better?

Comments 10

  1. Ultimately I’ve found that not caring about other people’s stuff or their opinions on MY stuff helps really cut down on any of those negative feelings. Yeah it’d be nice to have some of those ‘nicer’ things but I really won’t care, long-term. After a while things just lose their appeal – hence lifestyle inflation.

    With that in mind I’ve never really cared to get a ‘better’ car. My Sonata has moved cross-country with me twice and has some sentimental value to me now 🙂 I’ll keep it even though we can afford a couple new BMW’s if we wanted.

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      Well said! I honestly love my Honda much more than my BMW. I don’t even think the BMW drove any better either. And obviously, the Honda is cheaper and better with gas mileage.

  2. I find that most times it comes out later that the “others” didn’t even have it as good as I do. Even though it looks like they are rolling in dough.
    And it sometimes is easy to say, but we certainly do need to concentrate on our own situations. Great reminder. 👍

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      Author

      So true! I just assume everyone driving a super fancy car with a huge house can’t afford it…makes me feel better! 🙂

  3. Very interesting perspective. Personally, I could care less what others have and I don’t usually judge others. I am pretty content with my belongings and how I choose to spend my money. Nobody else is paying my bills, so I don’t really care to peer into other’s financial situation. I tend to focus on my own situation for the most part, but I will say if millennials avoid keeping up with the joneses it would really help them stop making frivolous purchases and adhere to a budget that will allow them to build a positive net worth!Thanks for posting this, really made me think!

  4. With time, I learned that the expression “don’t judge a book by its cover” is so true. Even more so when it comes to finances. You hear about the debt levels in North America and it is insane. Why can’t people live within their means. Now my biggest challenge is going to make sure my kids don’t fall into that trap. Quite a challenge when all other parents don’t seem to value balancing their accounts (meaning not being in the red) as much as I do. Great post.

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  5. I live in a fancy part of San Francisco and sometimes have car envy, as I drive around a total beater with peeling pain (but it still run!!) Then I think of just how much money I am saving driving this ugly car and I’m proud of myself. Not caring what people think or trying to keep up with the Jones is super important. Great post!

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  6. The same that you can be fooled by someone’s possessions, it’s important to not judge someone who is driving a clunker.

    I work from home so frequently, I can’t justify spending the money on a new car, even for a pre-owned vehicle. When I do leave home for work, I take the train. I would be paying for the car to either sit in my driveway or in the parking lot of the train station.
    I am truly the millionaire next door, even though most people would never imagine it to be.

    See the homage to my 20-year-old beauty. http://thoughtsonthemoney.com/2017/05/saving/

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