According to Wikipedia,
a status symbol will differ between countries, based on the states of their economic and technological development, and common status symbols will change over time.
For example, before the invention of the printing press, having a large collection of books would be considered a status symbol. After the advent of the printing press, having books was more common among the average citizen, and the possession of books was less of a status symbol.
The condition of one’s body can be a status symbol. In times past, when workers did physical labor outdoors under the sun and often had little food, being pale and fat was a status symbol, indicating wealth and prosperity…
Imagine that, all the pale and fat guys sitting around with their trophy wives and piles of cash while the buff and tan guys couldn’t get a date!
The whole idea of a status symbol is fairly juvenile. I remember crying for hours because my parents couldn’t afford to buy me the “cool” shoes (I was in 2nd grade, I don’t blame them for not spending $75 on shoes that would fit me for 6 months). Looking back, it was a clear indication of low self-esteem. I wasn’t comfortable enough with who I was, so I needed something else (like cool shoes) to get my self worth from.
You know everyone grows older, but “growing up” is optional. To me “Growing up” means not doing childish things like throwing a fit when I couldn’t have the shoes I wanted. There are way too many of us with the same self esteem issues and who behave the same way I did when I couldn’t have what I wanted. The key difference is that there is no one to tell us NO anymore. In fact, just about everyone is telling us YES.
Credit card companies are telling you that you deserve it, advertisers are telling you that you need it, and if you have the wrong friends you feel pressured into getting it to “keep up with the Joneses.” And on top of all that, you WANT it.
This is where growing up comes in. If I behave like I did back in 2nd grade (and many other times) and chase after status symbols – I might be older, but have I really GROWN UP financially?
Dave Ramsey always says that his show is, “where the paid off home mortgage has replaced the BMW as the status symbol of choice.” I get his point and agree that if you are chasing after a status symbol, you would be wise to at least make it one that will be financially beneficial.
However, an even better option is to be completely free from the pursuit of status symbols. We could do ourselves good by looking at life with a long term and “big picture” perspective. In the grand scheme of things, does it really matter?
I have noticed that there are not many seventy or eighty year olds still playing this game (occasionally I see some in their 60s still playing the game). Why not? Could it be that they have finally grown up?
For we have brought nothing into the world, so we cannot take anything out of it either. 1 Timothy 6:7
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I’d like to create anti-status symbols which would represent thrift and frugality.
@minimum wage
– maybe you can make a t-shirt that says, “the ANTI status symbol”
Nice
Status symbol, advertisement, peer pressure…it’s a lot to deal with.
@Minimum wage — I have a post dedicated to you, which I will be publishing on “I’ve paid for this twice already…” I hope you’ll like it.
Great post! I’m still struggling with the ‘growing up’ part, but suceeding for the most part.
My current aspirational status symbol is $0 balance on all my credit cards, then being able to brag I only have one with a low limit and no balance for emergencies.
@debtdieter
Yea, I am still growing up as well – it is a process for all of us, we will get there eventually
I agree with Ramsey that it’s better to have worthwhile status symbols, being debt-free or in the process of actively paying it off, for instance. But such things always make somebody feel left out or incomplete.
Status symbols lead to judgment. Basically. We can be happy with our debt-free status without using it as a way to look down on other people. I know I sometimes feel better than others because I’m actually tackling my debt. In Christianity, the status symbols can be good activities like reading the Bible or praying. But as status symbols they make other people feel like bad or worthless Christians for not reading or praying or doing as much. Which is not the edifying spirit one should find in the body of Christ.
My status symbols are my legs, which are very toned from tons of walking and kicboxing three nights a week, and my Louis Vuitton Speedy 25 bag. I like nice things and there is nothing wrong with that.
My anti-status symbol is my watch that I bought as a freshman in high school (now a sophomore in college) that cost me $6 total. I’ve spent more on battery replacements for it, but I just love it that much. Too bad I haven’t seen it in a couple of weeks…