How Your Pride Is Keeping You Broke

kingjan (53)in #money • 7 years ago (edited)

It's Said That of All the Sins, Pride is at the Forefront.

Hubris, vanity, and the obsession with oneself can actually lead to the other six sins in the Deadly Sin lineup. But how can pride keep you poor? What is its impact on your financial well-being, and you future? These seven examples are a warning to us all.

1. It Makes You Spend More on Brand Names

There are brand names, and there are generics. Brand names cost more because you're paying for the marketing and advertising behind it, as well as the privilege of actually buying something with that label stuck to it. However, in most cases, brand names are almost identical to their generic counterparts. The only noticeable difference is the price tag. But some people are too proud to ever opt for the generic version.

2. It Gets You Into Considerable Debt

There are some people who are known as "car poor." They drive around in huge, expensive cars that have the latest gadgets, spinning rims, and neon undercarriage lighting. But when they get home, it's to a house with very little furniture and no food in the fridge. They're car poor because they spend way too much of their budget on a vehicle, and all because they want to be proud of their ride. They wouldn't dream of cutting that payment in half by driving a used car with no modern conveniences.

3. It Stops You Getting Bargaining Price

I would never get my clothes and kitchen items from a thrift store. I am way above that." I actually heard someone say that when I told them about a killer jacket I got from The Salvation Army. And it's a rotten attitude to have. Thrift stores are not just for people who are really down on their luck. Everyone can, and should, shop at stores selling used goods. The simple reason is that they're way cheaper, and most of the time last as long as a brand new item anyway.