Look rich – die broke

While driving through Tampa, Florida recently I saw a cool car accessories shop – obviously a place to trick out your car – with this sign out front:

“Rent your wheels and tires here.”

Now I know we have places to rent furniture, clothes and appliances.  But I always suspect that these businesses are preying on poor people – or at least people who don’t plan very well.  So here we go – if you can’t afford new 22” rims with low profile tires why should you be deprived of looking super cool anyway.  Just rent them.  Who cares if you’ll pay six times what the tires are worth in the course of a year?  You can look slick tonight – it’s the American way.

This is an example of what Thomas Stanley talks about in his latest book – Stop Acting Rich.  I’ve highly recommended his previous books – The Millionaire Next Door and The Millionaire Mind. In this newest one he reveals the surprising practices of the really rich. They eat at modest restaurants, buy modest cars, and live in modest houses. The average dinner cost for the truly rich is $19.59 and very few ever spend over $10 on a bottle of wine. Guess who’s flashing the $250 bottles and putting $300 dinners on their American Express – yep, it’s the pretenders – those who want to impress others.

It’s pretty eye-opening to realize how much marketing is directed at those who want to “act rich.” This book may help you see real wealth in new ways. Bring rich doesn’t mean you have to waste money.