Last week I talked here about how you shouldn’t use your neighbors seemingly better financial standing as the measuring stick for your own financial well-being.
This excellent article portrays a side by side comparison of three families living in the same neighborhood and how each of them really stacks against the other. It really is an enlightening article because you can see how much debt, lack of savings and trying to keep up with the neighbors has impacted these families. I highly recommend taking the time to read it. A few things to point out:
- The writer concurs that the family doing the best, is not the family making the most money (almost 3 times as much), but the family who has accumulated the most wealth towards their financial goals.
- Ultimately, each family has debt, spending habits and savings goals they need to work on, so in that sense they are all in the same boat. Proof that it’s a work in process for everyone.