Someone driving an expensive car can give us an illusion that the person is wealthy. However, the only data point we have about that person is that they have that expensive car. We do not know anything about how that person bought the car. They are being seen as rich, but we have no idea about their wealth.
- You shouldn’t go about flaunting that you are rich. Being truly rich means that you are wealthy.
There is no faster way to feel rich than to spend lots of money on really nice things. But the way to be rich is to spend money you have, and to not spend money you don’t have. It’s really that simple
Source: (Done) The Psychology of Money - Highlights
Author: Bill Mann