Folks need to curb love affair with debt

IN A RECENT online discussion, I received a question about a problem that plagues many people. It has to do with the Joneses, or rather, the ubiquitous family name used to refer to the friends, family, co-workers or neighbors we try to emulate with our own purchases.

Intellectually, we know it's wrong to want to keep up with the Joneses. In an economic downswing like the one we're having now, we learn that the Joneses aren't really so well off themselves. Their accumulation of bling has made them as broke as anyone else. And yet it's still hard to watch others amass stuff without feeling envious. Or worse, it can make you feel like a financial failure by comparison.

That's what one person was feeling when she wrote to me during the chat. She opened with: "Michelle, I need you to smack me on the head, PLEASE."

I liked the use of all caps for "please." It meant she knew the answer but just needed confirmation.

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