Comments on: Perception Vs Reality – And What I Learned About Myself Watching A Reality TV Show

By: Beth

Beth — Wed, 01 Apr 2009 21:16:37 +0000

I feel that when you are rich, you probably have come to look at money differently than people who are not “rich.” The guest’s unhappiness may have been in part from the fact that, being unaware that there was an additional cost involved with the in-room manicure, “someone else” had actually spent their money; someone else had invaded their budget and upset it. There was a sense of a small loss of control. A sense that someone had stolen from them in a virtual way! Wow, thanks, that really made me think a little differently about the whole world of money.

By: Hazygrey

Hazygrey — Wed, 01 Apr 2009 02:49:12 +0000

I haven’t seen that episode, but first of all, I wonder if the guests featured there were really “rich”? I’m pretty sure the majority of people who stay in fancy hotels aren’t rich or may be objectively rich but would not consider themselves so. Certainly not that many would be actually rich enough that they can afford to spend without caring.

When I went from being a student to earning $200,000+ in a few years I thought I’d at least feel a little “rich” but I didn’t really. My spending went up as I lived more comfortably, but I still budget because I need to. I think my income and net worth would need to go up by a LOT before I’d be able to spend without budgeting. A lot of it’s because you let your fixed costs (like getting nicer housing) go up.

By: Laura

Laura — Wed, 01 Apr 2009 02:06:18 +0000

One thing I’ve found is that, in spite of the fact that I’m much better off now than I was two years ago, I’m now in the HABIT of budgeting and questioning charges, etc. I imagine that when I become a millionaire and can stay at the Plaza in NYC that my old habits will die hard!

By: jay

jay — Tue, 31 Mar 2009 18:31:41 +0000

Happy Birthday! Sure can identify with having some “me” time
My Dad ended up doing REALLY well in business, but the only way you might have known were the [up to] 3 Mercedes, all over 10 years old, sitting out front of their very modest suburban home. That and their trips to -hmm- Antarctica, Africa… He was trained as an accountant and knew where every penny went. Took me a long time to even start to emulate his habits. He and my Mom would have raised Cain too, though neither ever indulged in such luxuries.
Thought provoking post, thanks!

By: Melissa

Melissa — Tue, 31 Mar 2009 16:33:45 +0000

That’s kind of a neat idea, isn’t it? Kind of makes you feel like you might be closer to being wealthy than you realize.

And a belated happy birthday to you (even if it’s irrelevant)!

By: Saver in the City

Saver in the City — Tue, 31 Mar 2009 15:45:46 +0000

This is true more than ever now that luxury hotels are discounting their rates to super low levels. For example, I recently saw that the Four Seasons in Las Vegas was offering a $149 rate plus a $25 credit toward spa treatments. So people who normally wouldn’t stay at such a luxury hotel are able to book a room even though they continue to be on a budget.

By: Mike S

Mike S — Tue, 31 Mar 2009 11:38:51 +0000

You should read The Millionaire Next Door; and The Millionaire Mind; both by Tom Stanley. Both are excellent. Both made a huge impact about the way I think.

By: Baker @ ManVsDebt

Baker @ ManVsDebt — Tue, 31 Mar 2009 11:30:22 +0000

Great honest post. I am in the same boat as you. If I saw the situation as you described it, I probably would have thought the “rich” person was just falling back on an imaginary budget to help win an argument.

I, like you have done, should be more willing to give people the benefit of the doubt in those situations!

By: Mr Plasectomy

Mr Plasectomy — Tue, 31 Mar 2009 10:13:56 +0000

Wow, I guess I never really thought of that either, that the rich budget.

I guess it makes sense though. You don’t become rich without having a plan for your money and to make it grow. I guess the idea of Trumps of the world and the celebrities really skew our perception of the rich.

Warren Buffet lives extremely modestly and he is the second richest man in the world.