Well, it's been a few days, and for that I apologize, but I have been given the opportunity to do some side work, and it has been taking up a good deal of my time, but it is well worth it!!!
However, the last thing I do before hitting the hay, is to read for at least an hour. The book that I am currently reading is The Millionaire Next Door, and it is truly eye opening.
So, far I am about fifty pages into it, but it has already done a great job of showing what "true worth" is.
When you think of a millionaire, you think of the houses, the clothes, the cars, the exotic vacations, and so on, and for the most part you are correct. However, what this book has done a great job with is showing that these people with all of this money, are just as "broke" as I am. They have no assets. They are the Jones!!!
The line for today's post, Free and Budweiser, is taken directly from the book and one of the "true millionaires". These true millionaires are those that have millions in the bank, little to no liabilities, and a great sense of thrift. When the authors were doing the research for the book they invited ten millionaires to interview, and rented out this extravagant Upper East Side home, had it fully catered with only the finest food and drink being served. Basically, they were creating the environment they expected the millionaires to be comfortable in. Well, one of these millionaires arrives and he is offered a fine champagne, to which he replies, "I only drink scotch and two kinds of beer, free and Budweiser".
Needless to say, this was a defining moment for the authors, but for me as a reader, it summed up everything I have been speaking about and doing over the last couple of weeks.
It is not what you wear, or what you drive, or where you live, but rather what you choose to wear, choose to drive and choose to live.
I that I have thought about what it would be like to be a millionaire, and what I would do with that money, but I can't say that any of those thoughts were centered around a thrifty lifestyle.
So, my question to you is, would you rather flaunt your wealth? Or have your bank statement do the talking?
As always, thank you...The Runner
maybe a little of both.... but nothing too fancy!
ReplyDeleteBy my old way of doing things, I would definitely agree with you, but I have to admit that the idea of letting it only show on paper seems more and more appealing.
ReplyDeleteThanks for the response!
As much as I would love to have all the fancy stuff, I am not thrilled with the prices! I feel much better getting bargins and bragging about them. A pocketbook that cost $500.00 does the same job as the one I bought for $35.00! I love it and I could buy as many as I want..but one will do....Guess having money in the bank is a confidence builder, knowing its there if you really needed (or truly wanted) something..
ReplyDeleteYou bring up a very good point...shopping smarter will also lead to a healthy bank statement! Great post!
ReplyDeleteThanks!
As strange as this may seem, when I first starting reading your blogs a couple of weeks ago, this book came to mind. I had to read it years ago when I started with a new sales company and still have it to this day. The pages are now yellow, but the words are clear as day. While I like nice things, I believe in buying quality and not in quantity. It lasts longer and the return on investment is much better. My bank account and peace of mind is worth more to me than anything material. I think it also goes back to being comfortable with who you are and not what you own or can buy.
ReplyDeleteVery well said Heather!
ReplyDeleteI think you missed the point of why the true millionaires live that way. Part of it is natural selection: People get to be millionaires because they don't have spendthrift ways. Part of it is practical: If you're a millionaire, you have others working for you. If they see you driving a Mercedes, living the high life, traveling to Rome, etc., they will demand more money etc. If they see you driving a Chevy, living modestly, traveling to the Poconos, they will be less likely to notice the disparity between themselves and you.
ReplyDeleteFinally, I know several millionaires next door, and I wouldn't describe them as living "thrifty" lifestyles. They have nice cars, homes, vacation homes, and expensive hobbies like golf and major league sports. But they don't live lavishly like the "big hat-no cattle" types the authors mention. The kind who put a $1000 saddle on a $10 horse. The authors' point is that chic/designer/glitzy are earmarks of people who don't have serious financial assets.