Are people more motivated to have more money than their peers or by actually hav

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  1. Melanie Trausch profile image59
    Melanie Trauschposted 7 years ago

    Are people more motivated to have more money than their peers or by actually having more money?

    Would you rather earn a yearly salary of  $250,000, but everyone else you associate with makes more OR would you rather earn a yearly salary of $50,000 and everyone you associate with makes less? Why?

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  2. David Warren profile image83
    David Warrenposted 7 years ago

    I would definitely rather be at the low end with the 250K. Less responsibility at five times the pay. My life does not revolve around the status quo.

  3. kevin.howell profile image60
    kevin.howellposted 7 years ago

    good question.  I am motivated by financial freedom and acquiring the things I want.  I don't proportion self worth with net worth.

  4. profile image0
    Word Drawposted 7 years ago

    I'd rather make $250,000 because I don't care what everyone  else makes, and that is a lot of money.

  5. Melanie Trausch profile image59
    Melanie Trauschposted 7 years ago

    @ David and Word… Glad to see you both answered that you would rather make $250,000 even though you would be making less than those you associate with…very financially astute conclusion.

    @Kevin…I couldn’t agree more about not letting your net worth define your self worth.

    What prompted this question was I recently came across a case study that highlighted the differences between LMI (low-to-moderate income) individuals “perception” of wealth and status and how it affects their financial decisions as opposed to upper income individuals.

    I tend to find that a person’s ego and the desire to be perceived as better than others will usually lead them to make unwise decisions about almost anything.

 
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