1/20 Expressions

I finished reading "Stop Acting Rich: And Start Living Like a Real Millionaire" by Dr. Stanley yesterday. I haven't taken the time to read a book in a long while. I enjoyed his earlier work, "Millionaire Next Door" - so, thought this one would fall in line. It did - but mainly, it was additional re-enforcement of the concepts in the earlier book - but with an additional warning? The earlier concepts: a very small percentage of net worth millionaires have enough $$$ to spend like those propped up by the media and advertising agencies. In general, it is not as easy as one might think to be able to pick-out most net-worth millionaires because in general, they tend to frugal, select value, have enough self esteem not to be swayed by most advertisements, etc. So, what did I see as a warning in this new book? Just because there may be a good deal (what person wouldn't like a good deal/bargain/value) of a home (real estate) in a neighborhood with spenders (higher income folks/perhaps a few real "glittering" millionaires/up-to-their-eyeballs-in-debt-wannabees), be careful because it seems we all have a natural tendency to want to be "like" our neighbor. So, not only are you getting a bargain of a house (perhaps one lost by the wannabee), but you may end getting distracted into thinking you might need a golf club membership, a better car, etc. and therefore really get off track in wealth accumulation. Seems to me, most frugal/PF'rs are on track to becoming "net worth millionaire" :) I did enjoy the book - but as a frugal person interested in personal finance, it just confirmed what I already thought/knew ;) . It will be interesting to see if marketing agencies will pick-up on this information long after this down-turn. I have noticed more ads alluding to "frugal is cool - and we are frugal - so come shop here" messages - but are they here to stay? But once again, probably not. I personally think marketing strategist chase after those willing to part with their money easily - have $ (that is their job :). So, perhaps at this moment, frugal people are the ones with money (although they generally don't easily part with their money?) - so they are "cool". Otherwise, it is back to targeting the next group with access to $ (through high paying jobs/credit/etc.).