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Keeping Up with the Joneses Costing You Your Financial Goals?

We've all heard the phrase "keeping up with the Joneses", which means you are trying to keep up appearances.


In the age of social media and being constantly bombarded by enviable lifestyles, it's hardly surprising!


Recent research from the upcoming Financial Fitness whitepaper reveals that over a third of Australians feel pressured to keep up appearances to maintain a certain lifestyle.


Of those, 50% are 30 years or younger. A particular cause of worry is the number of Australians choosing to give up health for their lifestyle; nearly 39% of the respondents choose to forgo dental check-ups and over 31% forgoing private health insurance.


It also revealed that over 18% of Australians save nothing each pay cycle and over 8% spend more than they earn and 38% of Australians would rather forgo buying a home than give up appearance!!


What you need to know is that a strategic financial plan, which includes a budgeting and savings system, may be the answer to relieving the pressure and stress involved with maintaining appearances.


Having a financial plan doesn't mean you have to sacrifice a preferred lifestyle, but that with a few adjustments you can significantly impact your financial fitness to make long-term financial goals a reality!


Reach out to us today to get your finances into shape and start your financial fitness regime (it's less painful than the gym 😉)!

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Myriad Financial utilises the services of Wealth Today for our financial planning and advisory services as an Authorised Representative (AR #299828) of Wealth Today (AFSL #340289) Myriad Financial operates under the Australian Credit Licence #383145 Myriad Financial is a member of the Australian Financial Complaints Authority #44120 Bristray Pty Ltd ACN #118 084 905 trading as Myriad Financial