So you want to be debt free and financially independent? I suggest making a conscious effort to raise your own awareness of the following:

• You are not your car. Buying a car for any other reason than it efficiently and safely getting you to where you?re going probably means you?re spending money to impress other people.

• Wearing a R500 t-shirt that says 'D&G' can only mean you?re spending money to impress people.

• If you?re always first to own the latest electronic device, then you?re probably spending money to impress people.

• Spending money to impress people is, in my opinion, the most important reason why so many people are drowning in debt.

Stop trying to impress other people with your stuff. Seriously, it?s as simple as that.

To help you with this, divide everyone into two categories: those whose opinions matter to you and people whose opinions don?t. Now, never again consider those who don?t matter when you buy something.

Of course, it?s harder to stop worrying about the people whose opinions do matter to you, whether they are your friends, clients or family. The thing is you don?t need to impress these people with expensive stuff. What they think of you will always be based on you, not on what you own. They?ll like you for you (or they won?t) and even owning the smartest smart phone on the planet won't change that.

People who really love and care about you will never care how much your house or car costs, but they might have a problem with you getting into debt to buy stuff you can?t afford.

Before your next big purchase, ask yourself: 'Why am I buying this?' Is the, say, Merc worth the blood, sweat and tears it took to make the money in order to buy it? Will the people who matter like me more? What will I lose in buying, say, a Toyota instead? What do I gain?

Whatever your answers are, know that buying things to impress others is a major obstacle to living a full, debt-free life.

Until next week?

Kabous le Roux
Personal Finance and Property Editor

"Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like." ? Will Smith

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