The phrase, “Keeping up with the Joneses” means to strive to match one’s neighbours in spending and social standing. People who try to keep up with the Joneses are people who feel it’s important to show that they’re as successful as others. The phrase, “Living within your means” means to spend no more money than one has. These phrases are contradictory to each other because keeping up with the Joneses is someone who spends money just to be popular for example. Someone might buy a $300 dollar purse just to fit in with ‘everyone’ else. Living within your means is more so someone who simply just spends more money than they have.
“Keeping up with the Joneses” is people who try to keep up with the Joneses are competitive about material possessions and always try to have the latest and best things
“Living within your means” requires you to be mindful of how you spend your money, but if you do it correctly, you won’t actually be depriving yourself of the things you really need to be happy. Managing your money and creating a list of things that you need not want could help you be successful as far as spending no more money than one has.
In my opinion living within your means is the best way to be successful with your money in life because people who live by this phrase often end up saving lots of money and knowing how to manage your money. Rather than those who live by the phrase, “Keeping up with the joneses” often end up blowing their money on things they want but don’t need. Regardless of whether you’re wealthy or poor you should always know how to properly manage your money.