It’s always fun to stand around the braai with our friends catching up. We all know that friend that seems to have it all; the one we aspire to be like.
We'll do anything to impress that person, even sacrifice our long-term financial success to make a short-term and costly impression.
This Monday, Eunice Sibiya from Head of FNB’s Consumer Education Programme discusses envy, and the drain that envy can put on your finances. Most importantly, she tells us how to avoid it and make smarter money management decisions.
Sibiya says almost everything we do has a monetary link attached to it.
We don't realise that at times, we make decisions driven by envy.— Eunice Sibiya, Head of FNB’s Consumer Education Program
There's a silent struggle around finances around the globe. We always want to keep up with the best people we think are doing well. We always look at those people with interest, keenness and envy.— Eunice Sibiya, Head of FNB’s Consumer Education Program
We always want to keep up with Khumalo's, adds Sibiya. She advises that it is important to evaluate our level of envy and realise how detrimental it can be to our finances.
Sibiya's urges you to look at your spending to be able to find the root of your envy.
When your transacting decisions are based on showing off to others, you should be concerned because it stands in the way of you achieving your dreams.— Eunice Sibiya, Head of FNB’s Consumer Education Program
Listen to the clip to avoid falling into the envy trap:
This article first appeared on 702 : Financial envy could lead you down the wrong money path