Re:On the Experience of Being Poor-Ish, for People Who Aren't
by geebee on Monday March 01, 2021 @12:17PM
(#26305181)
This is a good point. I thought along similar lines when I read:
"If you have never been poor, you may not realize how awesome Small houses and Toyota Corollas are."
Very fair and great point, so I hope it's clear my next statement is not intended to refute this at all!
However, you could also say that if become or remain wealthy, you never forget how awesome Toyota corollas are.
Re:On the Experience of Being Poor-Ish, for People Who Aren't
by technofiend on Monday March 01, 2021 @01:45PM
(#26306464)
>It’s also not unheard of for those who grew up poor to overspend their wealth at the first signs of success, because they’ve never known how to manage money at that scale.
That was really my point: it's ok to not go buy a condo in Aspen the second you can afford it. The original poster was saying he knows he's being overly frugal. OK, fine. My counter-example of TMND was don't feel you need to move to a flashy conspicuous consumption lifestyle either.
It’s important to not turn this into a rich versus poor debate, because it can give people on either side of that divide the false impression that they’re naturally better at managing money due to their background. The truth is that wealth management is a learned skill that often comes separately from one’s career or upbringing. And the point of the book is that looking wealthy and being wealthy aren’t as tightly coupled as we believe.