We all like to feel normal, and nothing helps you feel normal like having the same stuff as your neighbors. Having the same gadgets and cars lets you feel like you fit in with your neighbors, and there is also a status component—having what others…

We all like to feel normal, and nothing helps you feel normal like having the same stuff as your neighbors. Having the same gadgets and cars lets you feel like you fit in with your neighbors, and there is also a status component—having what others have can trigger feelings of success. Unfortunately, all that stuff can also lead to loads of debt, and keep you from reaching your financial goals.

Keeping up with the proverbial Joneses can have negative financial consequences. It’s time to realize that the Joneses have probably maxed out their credit cards and are in debt up to their ears. Comparing what you have to what the neighbors have, and using that stuff as a yardstick to determine your level of success, can quickly lead to too much debt.

If you want to remain debt-free, keep your personal financial goals in mind. Remind yourself that you don’t want to go into debt just to try and impress the people around you. Remember: For most middle-class and upper-middle-class families, more stuff isn’t actually a sign of wealth. It’s an attempt to gain a little extra status by appearing rich.

According to the