Tuesday, 1 February 2011

Wealthwise, we need to look down, not up....



It is certainly true that household budgets are being squeezed, and it is not a happy experience. But there is a reason why we are constantly bombarded of images of wealth - if advertisers can convince us that lots of people have brand new cars, expensive holidays and plasma TVs, we can be induced to spend more than we can really afford because we feel we should keep up.

There is an excellent antidote to this temptation. When considering how wealthy you are, look down, not up. How many people are poorer than you are? If you go to the excellent website http://www.globalrichlist.com/ and type in your annual income, you might be surprised. For example, type in the UK average salary of around £25,500 per annum and you will find that you are in the top 1.15% richest people in the world! There are approximately 5,930,445,217 people worse off than you.

Petrol nearly £6 per gallon, no pay rise, pathetic return on your savings? Yes, it is annoying. But it could be worse....

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