Survey finds some go into heavy debt just to show off
A recent survey finds 14% of us have bought something just to impress others -- and of those 14% a quarter went at least $7,500 dollars in debt to do it. Financial planner Jack Swanda is horrified.
"My clients are all pretty smart. I don't deal with clients -- I fire clients who do stupid stuff like that."
Swanda says if a client asked for help finding the money to buy a flashy car, he'd talk him out of it.
"Let's find some moral foundation to build your life upon instead of building it upon something that'll eventually rust away."
The British survey says items that are considered status symbols include cars, iPads, big screen TVs and servants.