Recently my pastor, Jeff, did a great message on envy. As one of the seven deadly sins, it can definitely impact people’s lives and most often it’s not a beneficial impact.

You may be asking yourself, why is a column, that is somewhat of a financial nature, discussing envy. The reason is that envy can impact financial decisions for people, families, and businesses.

I have seen it in action and have assisted those who have made unfortunate decisions that were basically centered on the dreaded E word, envy.

The definition of envy is: desire to have a quality, possession, or other desirable attribute belonging to (someone else).

The first time I started to make a financial decision in this area was when I thought that I needed to buy a boat. This was during my first year at Commerce Bank and I was 24 years old. So, as I usually did, I ran the idea by my wonderful friends and co-workers, Tim Frye and Scott Spencer.

When I broached the boat idea they immediately started laughing. Scott said, “Why do you want a boat, Whitey? And remember, you can’t fix anything mechanically.”

I replied that it looked like a great way to meet chicks. My reply brought even more laughs. Then, they gave me some great advice. “Before you decide to buy a boat, you need to talk to Dick Moger. He used to own a boat.”

The next day my dear friend, Dick Moger, came to the bank. I told him about the boat plan, and Dick started laughing.

He said, “Whitey, the two best days in owning a boat are the day you buy it and the day you sell it.”

Dick’s advice was spot on. Because all I envisioned was a boat filled with bikini clad young ladies with loud music playing in the background. Dick brought me down to earth with topics like the cost to insure, store, winterize, and repair the boat — plus, the vital need for a vehicle that could pull a boat down the highway.

My good ole Oldsmobile Cutlass Supreme certainly wasn’t going to cut the mustard in that regard. After talking with Dick, I realized that there was more to owning a boat than flying up and down the lake.

In addition to the financial commitments, that I had not envisioned, I realized that I was approaching the potential purchase of a boat for all the wrong reasons.

It just wasn’t for me at that time. There is nothing wrong with owning a boat. However, I was letting outside influences drive a decision for me, instead of me doing something that really fit my interests.

The key thing when considering a purchase that could be an envy expenditure is to ask yourself, is this something that you really want and need, or are you wanting something just because someone else has it?

The following are some strategies to use when you may be influenced by financial envy:

• Ask yourself if this purchase will really improve your life

• Develop a budget to make the purchase. See how long it will take to make the purchase and this will allow you time to see if it’s really worthwhile

• Find meaningful pursuits, causes or hobbies that you can dive into. Meaningful pursuits and church/ community activities can help move you away from a consumption mentality.

• Develop an attitude of gratitude for the things you have

• Spend less time on social media. Social media has many positive attributes. However, the “everyoneelse- has-a-perfect-life-syndrome” is a common drawback of too much social media. Comparison is the death of happiness and can also lead to financial envy, which can have long-term negative impacts on a person’s life.

When I speak to young people one of the key elements of my talks is the need to be yourself. Financial envy can drive people to make bad decisions which essentially are actions to imitate someone else or to chase someone else’s dream.

There isn’t anything wrong with being ambitious or wanting a better life. Seeing someone pursue their dreams is a wonderful thing to watch. The key is for it to be something you truly desire, which fits your very own likes and desires, not trying to copy or imitate someone else.

Jon Horner is a local community bank president, published author, and motivational speaker. He can be reached at jonhorner77@gmail.com.