Can Envy Be a Good Thing for Your Finances?

Financial gurus usually tell people not to envy the financial successes of their family and friends. Don’t envy their nice cars or big houses. Don’t envy their great vacations or their early retirement. After all, you may not have their means or good fortune. The conventional wisdom is that envy simply leads you to try to compete and you may dig yourself into a deeper financial hole if you try. Even if you don’t try to keep up, envy can eat at you and turn you into a bitter, hateful person. But is this always the case? Are there times and circumstances where envy can be helpful? I think so.

Envy is helpful and motivating if you channel it positively and responsibly. LetR

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One Response to Can Envy Be a Good Thing for Your Finances?

  1. Gail says:

    I’m not sure that envy is the correct word to motivate people to save for what someone else has that they want too. It is called coveting and can be very dangerous emotionally.

    How much better to sit with your spouse and make a list of the goals and things that you would like to aim for in life and decide on a plan of how to get there. Who cares about what kind of car the neighbor has, because if you can’t afford it now, by the time you can it will be old and rusty. Better to look at what kind of car will help you to your financial goals.

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