Friday, October 26, 2007

Great Thought on Personal Finance

I was listening to Dave Ramsey the other day and he read an email that said (a paraphrase here):

The poor get poorer by acting rich, and the rich get richer by acting poor.

That really struck me. The people I know that are extremely wealthy seem like some of the poorest people I know. They are serious penny-pinchers. An older man who owns half of the town I grew up in walks around in holey sweats and nasty tennis shoes. My husband's grandfather who is quite wealthy still uses a water-heater timer and helped build his own house instead of paying people to do it.

We got in debt by acting like we could afford the new car, the new house, the dog. We didn't think twice about debt because it was such a natural way of life, we thought. Who saves money to buy a car when you can make 60 easy payments?

I used to think acting poor meant you were actually poor, but as I get older I am not afraid of how "poor" I seem to other people. I am the one responsible for my bills each month, and their opinion of me is not going to fund my retirement account or send my kids to college.

2 comments:

Cindi said...

I love Dave Ramsey! I missed that show. That thought is so true!

Anonymous said...

frugal dollar, I love your post, that is soo true, what Dave R has said. It reminds me of some people I know who are always acting poor and are loaded!! It given me food for thought, I am gonna start acting poor from now on!!
meg from pennypincher pantry
fruagl hacker