The #1 Money Mistake You’re Probably Making Right Now

Your earnings are relatively good, but you still find yourself feeling broke. Then, it would be best to evaluate yourself to be sure you’re not a victim of status symbols. This culprit silently drains our money, but we often overlook it. The prices of things like my car fuel spiralled up in my country by more than 400%. I was still living and spending the exact way I did before the increase. But I sat to check my outflow and realised that not only did I need to slightly cut costs, but I also needed to increase my income.

Doing this hurt my emotions, as I feel the pressure of struggling to keep up with my lifestyle and my family. Then, I realised that I felt better when I could reaffirm that I didn’t need to impress society. We are wired by default to seek social status and prestige. This automatic programming pushes us to impress others and consciously or subconsciously secure our place in society. Unfortunately, we are pressured subconsciously by this natural desire to spend on unnecessary luxury items, fancy cars, and other symbols of wealth that make emotional sense to us even when they sometimes don’t make logical sense when intensely scrutinised.

What’s the Cost of Impressing Others?

I will break down how common status symbols quietly drain your finances: