Two days ago I went into a supermarket with a friend who wanted to buy a pack of juice, we went in, saw what we were looking for, and quickly made our way to the counter, reaching the payment point the young lady, scanned and told us the bill, and to our greatest surprise it was N6,000 higher than the price we know, my friend complained that it was above her budget but what can we do, “let’s just get it” in her words “ How can we keep it back or leave now without buying anything “ and there was me with a confused face, “Why can’t we “♀.
So here is the thing while a bit of confidence is healthy, an inflated ego can lead to some serious financial missteps.
The High Cost of Keeping Up Appearance
One of the most common ways ego manifests in our finances is through the desire to keep up with the Joneses. We see our neighbor driving a shiny new car, or our friend posting about their exotic vacation, and suddenly, we feel compelled to outdo them.
This leads to impulsive purchases, unnecessary upgrades, and a constant cycle of debt.
The Illusion of Control
Ego can also lead us to believe that we have more control over the market than we do. We might overinvest in risky assets, thinking we can time the market perfectly. Or, we might refuse to click cashout on Sportybet, hoping it will eventually go the way you predicted. Both of these behaviors can lead to significant financial losses.
The Danger
A big ego can also make us arrogant and complacent. We might neglect to seek advice from financial professionals, believing we know better. We might also take on too much risk, assuming we can handle it. This can lead to disastrous consequences, such as bankruptcy, losses, or financial ruin.
By taming your ego and making smart financial decisions, you can build a solid financial baseline and achieve your long-term goals.
Remember, true wealth is not just about money; it’s about financial security, peace of mind, and the freedom to live life on your terms, so a rich man once said.
