Comments on: How to Stop Comparing Your Financial Situation to Others

By: Fruclassity (Ruth)

Fruclassity (Ruth) — Wed, 31 Aug 2016 20:54:12 +0000

I find this a tricky one. There is petty comparison – based solely on competitiveness and jealousy – but there is also mindful comparison, as in “We both make the same amount, yet she never seems to go out to the pub Friday after work because she says she’s got other plans for her money. What is she doing that I’m not?” I actually wish I had done more mindful comparison when I was younger. Instead, I went with the flow, kept my head in the sand, and ended up in too much debt. Petty comparison? Not good for anything. Mindful comparison? I think it has the potential to help people learn to do better.

By: Andrew@LivingRichCheaply

Andrew@LivingRichCheaply — Tue, 30 Aug 2016 13:52:16 +0000

I’m definitely guilty of comparing myself to others financially. I think it’s just human nature. But ultimately as you said, you have to be grateful for the things in your life and not worry what others are doing. Definitely easier said than done of course

By: My Money Design

My Money Design — Sun, 28 Aug 2016 20:00:07 +0000

I used to do this when I would read the 401k reports from Fidelity and see that our balance was way above what other people were saving. But then I realized those people are not on the same path to FIRE as me, and so I stopped paying attention to those statistics. Now I simply try to set a goal and then measure my progress against it.

By: Brad, Financial Coach

Brad, Financial Coach — Sun, 28 Aug 2016 17:17:42 +0000

Awesome topic to point out for people Rachel. We all need to be reminded of this!

This-> “Budgets don’t have to be restricting. In fact, you’ll undoubtedly find that your budget allows you to do more of the fun things you want to do.” – is SO important and far too many people don’t understand. They avoid budgeting because they don’t want the restrictions. We coach them to understand that the amount of money you have is the actual restriction – the budget just helps you organize your priorities.

By: Fehmeen

Fehmeen — Sat, 27 Aug 2016 19:55:50 +0000

I think one needs a particularly mature and confident mind to not compare themselves to others and it’s pretty difficult to attain that level of maturity along with confidence. But I like this idea – of focusing on your own race in life, because it’s the only race that actually matters. Thanks for sharing!

By: Finance Solver

Finance Solver — Sat, 27 Aug 2016 19:17:42 +0000

This is a great distinction between absolute and relative. I think people are so accustomed to comparing themselves because it’s a relative factor which is why I think relative performance will always win out in absolute when judges are involved but certainly not when it’s an extremely personal and individual thing such as personal finance. Great post in detailing the importance of not caring about what others are doing!

By: James

James — Sat, 27 Aug 2016 16:51:24 +0000

I’ve always appreciated taking inspiration, and learning, from others; however, early on in life I recognized that all relevant factors (e.g. age, goals, background, resources, etc.) are different for everyone and therefore, the journeys and destinations will necessarily be different.