Advice for the families

To help the Steins, Mendells and Wrights get their finances on track, and stop comparing themselves to their neighbors, Money Magazine turned to financial planners Neil Kauffman of Kauffman & Drebing in Philadelphia and Chris Cordaro of Regent Atlantic Capital in Chatham, N.J., as well as career coach Nancy Collamer, who runs Jobsandmoms.com.

The take-away
The take-away
Back at the barbecue, the three couples talk about what they've learned from the planners and how they plan to proceed.

The Steins are going to use most of their savings to pay down credit-card debt (they're keeping $5,000 in the bank for emergencies). But they haven't sworn off borrowing. They plan to apply for a $42,000 home-equity loan - that's 40 percent more than the planners suggested - to wipe out their remaining credit card balances and to pay for Stuart's career training and a new fence around their yard.

The Mendells have pledged to boost their retirement savings. "I thought we were on the right path," says Emily. "But we've got a lot more saving to do than I thought." They say that they are also committed to cutting back on their spending but haven't decided how. Meanwhile, Emily is still shopping for a Mercedes.

The Wrights, who had a sinking feeling about their finances before talking to the planners, say they were pleasantly surprised at the planners' assessment. "We're in better shape than we thought," says Ernest. Miriam is sending out her newly revamped résumé and has already landed one job interview.

In the end, all three families say that taking a closer look at their own finances, rather than using others as a gauge, has given them a clearer picture of where they stand when it comes to money. The Joneses they now want to live up to are not their next-door neighbors but rather their own expectations. Their financial security is up to them, they realize. And it's none of their neighbors' business.

The Steins

The Mendells

The Wrights

Future plans
Call it peer pressure, but meeting the right people can help you spend and save wisely. (more)
A Roth IRA for your teen could create a millionaire in the making. But how do you convince her it's a good idea? (more)
Starting a savings plan in your 20s could put you on the right track for an early retirement. Just make sure you've got the right mix, says Money Magazine's Walter Updegrave. (more)

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.