Why are some well off people so frugal?

[jaysrcrak]

Better to have it and not need to use it, than to need to use it and not have it

 

[mrkane]

I'LL just leave this here

View media item 511683

 

[crcballer55]

When you can have money and not need to tell people about it by your lifestyle, it shows a sense of self confidence that most people don't have. Most people who are first generation wealthy have earned it through hard work and wise investments and don't feel the need to show it off. Read the book "Millionaire Next Door" and you'll see that most Lawyers, Doctors, & Realtors actually don't have that much money because they're too busy trying to keep up with their peers through a larger house, nicer car, private school for the kids, and more expensive clothes. The key to staying rich is to have as good of a defense for your money as you do an offense. If you only have one, you'll never have anything to show off.

 

[Hank Scorpio]

People who got money dress like theyre broke and people that are broke dress like they got money

This is not always true. Although, I've met billionaires before in a casual setting (not in office/professional space) and they mostly dress and look like the normal guy. I've never met anyone who was very well off and never went out and bought something nice for themselves or their loved ones etc etc. I don't think there's a generalization that applies for this.

Their self-worth is held in the fact that they tell themselves they've "earned it".

VERY TRUE.

 

[freeze]

Why are you counting their money playa? Is it wrong that people that can afford numerous material items choose to not place value on them?
You're thinking with the thought process of those that are broke.


Why buy a Benz when this 15 yr old car still runs fine? Ultimately all you need is to get from point A to point B, correct? 15 years of performance has more than paid for itself.

Why buy gucci and givenchy, alexander wang clothing when this T from the sale rack at macys cover the same body parts for less? Whom are you dressing for? If you just dress for the necessity of being covered, the clothing section at Target will do just fine and you can invest those ducats in into some that may actually deliver a return..




Think bigger my man.

 

[Sir San Diego]

Yeah, I wonder why those people that don't waste their time worrying about what other people think and do things differently than most have money. I wonder...

Why?

Hmmm...

It's fools that try to impress other people and live beyond their means that will always be broke, no matter how much money they make. Just take a look at the long list of athletes and "celebs" who do the most and end up on reality shows to make ends meet for examples.

I'd rather be wealthy and secure than insecure and trying to look "rich".

 

[marco23]

Bruh you need to get like them.

I'd rather be rich and bummy than fly and poor.

this. you can't have money if you spend it all. If i had a lot of money i would buy a couple nice things but not try to spend it all

 

[Top Boy]

Annoyed that people wealthy people look poor?

BAN problems

People who got money dress like theyre broke and people that are broke dress like they got money

THIS.

I work at a bank. Can tell you 9 times outta 10 the dude that comes in with sweatpants and a nike shirt on with their ***** left at home are usually the richest person in the building.

 

[Y4BBZY]

IMO, more people should live well below there means. For me, living within in your means you are living pay check to pay check aka every last dollar you earn is going somewhere other than your bank account. Be it your necessities, bills, vices, etc. While living below your means that you are not only covering your living expenses, necessities, vices while having something left to put into your bank account/savings account/retirement fund/etc. Now I try to live well below my means because I like to see that I have some cashflow in the bank in case of emergencies like medical bills, car maintenance, etc. That doesn't mean I don't splurge on myself once in a while. I just do it frugally like watching a matinee showing for a movie; buying stuff used like guitars, video games, watches, etc; cooking more than eating out but using premium ingredients; walking instead of taking the car to go pick up something close by; buying quality items that last longer than a cheaper equivalent; not try to upgrade to the latest gadgets until I either really want it and saved for it or really really need it; etc. In simple terms I kind of see living below your means as more liquid rich (assuming your putting the rest of the $$$ in the bank) meaning when an emergency comes, I can handle it or come close to handling the situation with minimal debt. On the other hand, I see living within your means as hood rich (assuming you don't put any $$$ in the bank) where you got a lot of nice stuff but when an emergency comes you are just stuck with a bunch of sh**. In the end to each his own, I just see so many people living pay check to pay check and when the time comes to retire they got diddly squat and wondered where all there hard earned money went.

 

[theworldisyours]

Most stuntin' is frontin'. Just because you can buy it, doesn't mean you can afford it.

 

[rareprecision23]

For some, money is a means to control your immediate environment, rather than a means to stunt for people who are under a hyperconsumerist spell.

 

[createdestroy]

I'd rather be rich and bummy than fly and poor.

 

[dankenstien88]

 

[SoleByThePound]

Annoyed that people wealthy people look poor?

BAN problems

 

[216301baller]

Because they are smart and their self worth isn't based on their material items...best way to live imo..be true to your bank account

 

[jordan23dotcom]

What are Rich people good with money? Why is water wet? Why is jada kiss as hard as it gets??

 

[Sir San Diego]

View media item 465451

 

[deek510]

what a weird question, why do these people not blow their money... materialism and consumerism are the way of life for most Americans, but not all, not the smart and content people.

 

[Platinum State]

I see my thread didnt come across well.
The question I wanted to ask is basically "is life worth living if youre gonna be cheap till the day you die"?
These people I talked about in my post are ultra cheap. Im telling yall this dudes own brother wore god knows how old shoes with holes in them with the sole partially glued off to a basketball game we went to. Stuff like buying the cheapest phone, cheapest camera.............
Im not saying they should be buying like someone said Versace, Givenchy clothes, driving Beamers, buying jewelry left & right.
Im not saying that. Im just wondering why they gotta buy the cheapest possible stuff and never buy a nice item when they have money and are well off.
I couldnt live like that, whats the point if they plan on earning money for future generations? The future generations should work for their money.
Again........no Im not saying they should blow their money. Just asking how can someone be so damn cheap?
Anyone can do what they wish with their money. I just find that behavior odd.

 

[denni5themenace]

Are your friends unhappy with their lives? Or are they seemingly content with what they have?

Is it unfathomable to believe that others don't need the newest/top of the line items whenever they come out, and are perfectly content with using something old?

maybe they don't equate their happiness to their material things.

 

[currensy]

so they can alley oop the wealth to the next generation

 

[sundoobie]

Folks that you described OP get my utmost respect. It takes discipline and hard work to be frugal. I look at some people with new cars very 2 years, lavish vacations, jewelry, name brand wallets and purses, and they struggle to pay their monthly mortgage or take out additional loans if not max out their credits cards. All for what? Attention?

The question I wanted to ask is basically "is life worth living if youre gonna be cheap till the day you die"?

Why wouldn't it though? Only that person living that life needs to be satisfied right? Old shoes, cheap phones/cameras.. what does it matter? If they aren't complaining about it and if a cheap phone, old shoes is good enough to get em by then what's the problem?

 

[Hank Scorpio]

I see my thread didnt come across well.
The question I wanted to ask is basically "is life worth living if youre gonna be cheap till the day you die"?
These people I talked about in my post are ultra cheap. Im telling yall this dudes own brother wore god knows how old shoes with holes in them with the sole partially glued off to a basketball game we went to. Stuff like buying the cheapest phone, cheapest camera.............
Im not saying they should be buying like someone said Versace, Givenchy clothes, driving Beamers, buying jewelry left & right.
Im not saying that. Im just wondering why they gotta buy the cheapest possible stuff and never buy a nice item when they have money and are well off.
I couldnt live like that, whats the point if they plan on earning money for future generations? The future generations should work for their money.
Again........no Im not saying they should blow their money. Just asking how can someone be so damn cheap?
Anyone can do what they wish with their money. I just find that behavior odd.

Listen, dude. Rich or poor...people have different spending habits. There are rich people who are cheap and rich people who spend money. Then there's poor people who are cheap and poor people who spend money.

At the end of the day, it's the person's spending habit.

Maybe the people who buy the cheapest things feel like they don't want to spend their money to more expensive items. Then again, there's people are being cheap to be cheap.

 

[royal assassin]

Already said but that's how they stay rich.

 

[Chopper]

Frugal = Bawse. Cheap = Douche.