People who kept up with the Jones's before, where are you now?

I realize this is Reddit and so there may be some substantial bias, but I'm looking to see if there might be some interesting discussion here.

A lot of my peers bandwagon on everything. They will spend lots of money to follow the crowd so to speak. The next concert, yes. Trip abroad, yup. That one point person's birthday you don't talk to but everyone is going to be there so you have to be there; gotta find a present. For sure, I know some of them are spending themselves into debt to keep up with the experience, but it sure beats being left out.

There's no right or wrong answer, but if you have you done this before in your life and how did things turn out for you? And what made you change (if you did)