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December 11, 2008


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Perhaps some still want to keep up their lifestyle. The mega-rich are probably not frugal. If they were, they shouldn't be having this problem to begin with.

If you spend more than you earn will draining your finances, no matter how much money you make.

Clear proof that having more money doesn't mean you will save more. This is why I want to laugh when people say that they will save more once they get this next raise. It's sad that people actually believe that their behavior will somehow change once they make a little more money.

I used to drive by this place all the time. It was featured on a tv program awhile back, they have some amazing stuff there. Gorgeous artwork, exquisite diamonds, it's very very high end pawn shop.

I would hardly call these folks the mega rich or the rich. I would call them the aspiring rich, who couldn't afford the stuff to begin with. Tabach-Bank is being absurd, because if the people had great credit and have the balance sheets to support a loan, they can still get a loan. the fact is these people couldn't afford them to begin with.

There was a similar story today on Fox Business or CNBC.

Usually, those with the "big money" in our society are those who try to game the system to -get- money rather than to -make- money. Making money requires understanding the nature of wealth, which almost always implies a level of saving, cultivating and managing money skills.

Beverly Hills is an expensive area, and relative to the cost of living, doctors, lawyers, and accountants don't make a ton of money (especially lawyers and accountants!) -- their incomes are far from "huge" in that area.

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