Is it true that you can have a millionaire in your neighborhood and not even know they are millionaires? The answer is yes!! Millionaires aren’t called millionaires because they have millions in their accounts, they are called millionaires because they learn the secret of money and how to spend it.
I have come to realize that a lot of people who flaunt wealth are average earning individuals, celebrities and media influencers who have to impress other people and sorry to say this, fraudsters who did not work for their money. Millionaires and Billionaires actually buy expensive things with their spare cash but they do not flaunt this things around so people could see them. There is nothing wrong in buying expensive things (the companies producing them need to make sales) but it becomes wrong when you buy with the money you do not have.
I was talking to a friend who shared his predicament over how he spent funds he could have used to invest or start a business to buy a home, furnish it, buy a car and travel for a vacation. I was forced to ask him how much work he had done for him to go for a vacation, or what happened to his old car that made him get another, more expensive car or buy a new home. His reply was based on inability to manage funds as well as trying to impress his neighbors who didn’t care he existed.
The question is why live like the rich when you are not rich? Being rich is not the same as looking rich. Wealth is often calculated based on the asset you have minus the liabilities and debts but in most cases, the poor and average people do not even have assets at all. They believe their homes are assets whereas their homes aren’t since it isn’t bringing in any return at the moment. Understanding the live of the rich is good for beginners and people who are in to start the race to wealth.
One thing I told my friend to remember is “never look rich so people see you as rich be rich so people can identify with you as being rich”.