Pressure, decisions and discipline.
This is why the phrase "following someone else's lifestyle" is so popular; people often feel compelled to engage in behavior that is common to those around them, For example, if you live in an affluent neighborhood where everyone is buying new cars, you may feel pressured to buy a new car too to fit in with the actions of the people in your neighborhood. This phenomenon was more prominent before the advent of social media, as the influence of local communities had a greater impact during that time.
It’s easy for your neighbors to influence your purchasing decisions, However, today, social media has amplified this influence, Now, not only can your neighbors influence you, but someone in the US can easily influence the decision-making of someone in Indonesia.
This is due to our tendency to compare ourselves to others featured on social media, which can have a significant impact on our finances, The pressures we face today are greater than ever.
In the past, it was mostly your neighbors who influenced you—a concept embodied in the adage “following the crowd.” Now, that pressure has reached a whole new level.
We spend money we don't have on things we don't need.
The pressure to buy unnecessary items can cause significant financial problems. For many people, especially those living in underdeveloped countries, getting into debt can be a challenge.
In more developed societies, where credit cards are commonplace, it is easy to rack up debt because money is readily available. This normalization of debt has reached the point where many people consider it a standard aspect of financial life. In contrast, during the 1990s, people were taught to avoid debt at all costs.
Today, societal pressures push people into debt, and our current generation is more likely to succumb to this influence.
More money probably won't save you
Many people believe that having more money will solve their problems, and some financial advisors suggest that we create additional cash flow to buy things we want without worrying about it.
However, the reality is that more money may not guarantee financial security. A good example is celebrities who declared bankruptcy after earning a lot of money throughout their lives. Despite their wealth, some of these people struggled to recover financially and ended up bankrupt.
The problem is that lack of discipline affects how we spend our money and the things we consume.
The pressure that social media puts on us increases every day, making it difficult to control the amount of content we consume. If you can reduce your consumption and invest the money you save wisely, you are likely to accumulate wealth at the end of your life.
The key is to find a way to discipline ourselves about what we consume and how we invest, because bad investments can turn good intentions into negative results.
What is your relationship with money?
The question you should always ask yourself is, what is your relationship with money? Are your decisions influenced by what you see online or by how you want others to perceive you? If you often make choices based on how you want to be perceived, you may end up spending a lot on things you don’t really need, which can lead to financial problems.
Living in this era can be challenging, but it’s important to cultivate a healthy relationship with money by practicing self-discipline—consume less and invest more, that’s my discussion today about the environment, hopefully it’s useful, that’s all and thank you..