How Do You Stack Up in #RichGirlNation?: What Our Community Makes, Saves, and Spends
The Money with Katie Show
Money with Katie
4.8 • 1.3K Ratings
🗓️ 3 January 2024
⏱️ 45 minutes
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| 0:00.0 | A couple of weeks ago we did an episode on the concept of Enough and I talked with our |
| 0:08.1 | guest a career coach Cynthia Pong about the insidious comparison game. |
| 0:13.7 | So we'll link to that in the show notes. |
| 0:15.7 | But for now, the jury is still out on the psychological net effect of comparison. |
| 0:24.3 | There have been times in my own life |
| 0:25.7 | where seeing someone else's financial choice |
| 0:27.8 | inspired me to right size, to make a better different choice. |
| 0:32.2 | Like when I was prepared at 22 to shell out $1,500 per month |
| 0:36.2 | for a one bedroom apartment on my drum roll |
| 0:40.4 | $52,000 a year salary, while my friend who earned $100K refused to spend more than $1,000 a month on housing. |
| 0:50.0 | That comparison was a huge reality check that allowed me to keep my housing expenses around |
| 0:56.4 | 900 a month and contribute to a Roth IRA instead. |
| 1:00.9 | There have been other times, and if I'm being honest, more frequent times, when comparing my |
| 1:06.2 | financial position to someone else made me feel less than, as I shared in that enough episode. Often I did not earn as much or have as much as some |
| 1:17.1 | upwardly mobile peers in my comparison games chosen set, which by the way isn't it funny how we tend to only compare ourselves to people |
| 1:25.9 | that we perceive as doing better than we are? Like, we gloss over everyone else, all the lesions of |
| 1:31.7 | people who we perceive to be doing worse. |
| 1:34.4 | I know this emotion is also common because some of you have told me so. |
| 1:38.2 | When we started sharing interesting findings from Rich Girl Nation, we received a handful of messages from people who said |
| 1:44.7 | seeing how much more other people were earning made them feel like a failure. And at first, this really |
| 1:50.9 | broke my heart. Then I thought, hmm, maybe this could be an opportunity. |
| 1:57.2 | Could we explore these numbers in a way that is expansive and insightful so we can see what else is possible. |
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