[00:01] people do, but today I'm going to do the opposite. 10 things that scream you're pretending to be rich. Real wealth is about what you build and not what you probably come across someone who is guilty of these. And it's important to
[00:13] identify these patterns so that you don't derail your financial life. All one. One of the biggest signs that someone's just pretending to be rich is that they will buy the entry-level designer good or an entry-level luxury
[00:25] model. Usually someone who wants to appear rich wants the flashy item but what they're going to do is they're going to stretch their budget and they will go for the cheapest and flashiest designer good possible. Usually that can
[00:39] experience and they'll show off that way because to them the designer good is associated with status. Brands like Louis Vuitton and Gucci will sell you on the idea that their goods are made of higher quality, superior materials, and
[00:52] they're probably just marked up anywhere from 100 to a,000%. Another example that comes to mind is buying the cheapest model luxury car like a BMW, Mercedes, buy a luxury car for the driving experience, the quality interior, and
[01:07] stylish. And if a high-end car just does it for you, and if you can genuinely finances, then more power to you. But if you're somebody who's just buying the associated with the brand, and you're financing it, then you might be doing it
[01:22] for the wrong reasons. Often times, you can get a fully loaded Honda or Toyota than the base model Audi or barebones someone who's pretending to be rich might say to themselves, "Well, why
[01:35] would I want a Toyota? It doesn't matter if it's fully loaded or not. I can have think, is where the real damage happens. The person pretending to be rich might spend 20 to 30% of their income trying to look wealthy. While someone with
[01:48] actual wealth might spend 2 to 5% or less on these kinds of purchases. Plus, these purchases will also come with higher ongoing costs like insurance, maintenance, premium gas, all of which will stop you from building real wealth.
[02:00] What I've noticed is that truly wealthy people often buy the flashier items after they've been financially successful and established, not as their pretending, they will buy the status symbol first and hope that the wealth
[02:13] the second point in today's video is someone you might know, but it's that in every capacity. People that are really secure with their financial constantly remind everyone how well they're doing, how much they're making,
[02:28] or how much their portfolio grew by. But what I've noticed is that the people who always steer the conversation back to a money related topic. They'll find any investments, or how much they spent on something because they need that
[02:42] this is all unprompted. You could literally be talking about the best by the way, and your coworker might just come up to you and say, "Oh, yeah, I used to eat those when I wasn't making that much money, and now I'm not eating
[02:56] similar to that. Another example I've seen a lot online is people confusing their revenue with their actual net profit or how much they make. So, this the drop shipping industries that I would come across. A lot of drop
[03:09] shippers I would come across would say something like, "Yeah, I made $500,000 bucks this year, but they were talking about their revenue and not what their actual profit was. Often times, their actual profit was less than 10% of that
[03:22] revenue number. So, they're bragging about making 500K when they're actually amount of money, but it's not the same people talk about the money they're about to make or deals that they are
[03:35] actual results. You might have heard someone say like, "I've got a huge deal coming or once this investment pays off, I'll be able to do XYZ." It's always in future tense because the present reality doesn't match the image that they're
[03:49] to people that the money isn't actually real until it hits your bank account, deal. So, if you are working on a big opportunity that you have coming, I because it's just going to be a little bit embarrassing if it ever falls
[04:03] very private and don't want to talk about their finances, especially because they don't need to prove anything to anyone. The third item that screams, have a bag that costs more than what's in your bank account. This is a scary
[04:16] place to be. Imagine walking around with a $5,000 Gucci bag, but you only have think that's the same flex as you might think it is. I personally see this all handbag that costs more than their emergency fund. or someone wants to buy
[04:31] a luxury item like a Cartier watch, but they are going into it with a hefty wealth building at this point. I think it's just another way of showing off. And I think there's a massive difference here. So remember guys, the phrase is if
[04:43] you can't afford it twice, don't buy it. And if the designer good or bad income, you aren't rich. You're just living wildly above your means. A good rule of thumb to make sure it fits your budget is to use the 5030 20 rule.
[04:56] budget should be allocated to discretionary spending, including luxury items. But even if you're making 10K a month, for example, 30% of your entire spending for the month is $3,000. So buying one fancy designer item could be
[05:11] they pretend to be rich not with items, but instead with their attitudes, which brings us to my fourth point, the constant oneuper. A oneupupper is another person by making their own experiences seem better, more extreme,
[05:27] or more impressive, often to gain an advantage or feel superior. So, for watch and you're super proud of it. And they might say something like, "Well, have quite the same mechanical movement as my Rolex Submariner. I just love the
[05:41] tick." And you might think I'm joking, but this has actually happened to me. Now, in most cases, maybe it's not as direct as that, but there are certain conversations back around to themselves after they've noticed that you've done
[05:54] something really great. Every conversation just becomes a competition essentially, I think it all stems from a little bit of insecurity or some sort of misguided attempt to relate to others by just shifting the focus onto themselves.
[06:07] You'll know you're around a constant oneupper whenever you share some news So maybe you get a promotion, they'll make you feel bad about it because just share that you went on a nice vacation and they'll mention their time
[06:19] last summer in the south of France and they just have to tell you that they there. People with real wealth won't actually need to win every conversation success without making it about themselves. But people pretending to be
[06:33] rich will be threatened by any successes that other people have. So I think five is a characteristic of your classic oneupper and it's actually a little bit different, but it's going to be showing off on social media. If somebody's money
[06:46] constantly document it for strangers on the internet. But the people who are pretending to be rich, it's only real if other people see it on their phones and always a good reminder here. Social media isn't real. Sometimes what you see
[07:00] on other people's posts is just a highlight of their lives. And sometimes going to hop on social media and show you the day-to-day boringness of their guys, get ready with me to do the dishes." I think it's a sad fact that
[07:13] certain types of content will just get more views in general. So, for example, if you went to spend $1,000 at the mall, like come to the mall with me and spend $1,000 to get the rare one of one laboo, it might actually get more views, which
[07:26] if I make a post about how I'm going to save $1,000 into my bank account or I'm not going to get as many views as the person who's shopping with a $1,000 budget. It's just not as glitzy or glamorous. I'm sure you're financially
[07:40] latter type of content. However, I'm saying as a whole, a lot of people like and not the boring, disciplined stuff. The other thing I've seen on social media in terms of showing off is in the way of fake followers and fake likes.
[07:54] I've seen some profiles on the internet where clearly they want to embody some material possessions in the world, but now it's about signaling social status. followers and hundreds of thousands of likes on every post. But then if you
[08:07] actually click into the comments, you realize it's all fake engagement and all thing over and over. So that's something to be aware of. But let's actually switch gears literally and talk about cars again because the next one is a
[08:20] classic. Number six, and that's leasing a luxury car. This is a financial habit that people use to make them look upper class. And it's especially common if you already make a decent income because you think, "Okay, well, I can grab the new
[08:32] the payment, no problem." But when you lease a car, the dealership is winning a lot financially because when you lease, you're essentially paying the vehicle's depreciation off during your lease, plus interest, which is called the money
[08:45] dealer estimates what the car will be worth at the end of the lease. That's the difference between the purchase price and that residual value over the course of your loan plus interest, taxes, and fees. So, if a car costs 50K
[08:59] and will be worth $30,000 after 3 years, you're essentially financing the $20,000 worth of depreciation plus interest. In that way, you're paying for the most steepest part of the depreciation curve,
[09:12] of the day. Then at that point, you will usually get sucked into another lease, interest, and the depreciation off again on a new car. Leasing is one of the most vehicle. Now, if you do want a luxury vehicle, you can always buy a used one
[09:27] That's probably a better financial option. I'm not saying 100% of leases are bad decisions. If you're using them for legitimate business purposes with tax write-offs, or you genuinely need a new car every few years for your work,
[09:40] wealth-b buildinging strategy, leasing a car. And if you're just leasing a luxury car because the payment fits your Another red flag that we should talk about today are counterfeit and luxury
[09:54] seven. This is going to be a really short point here. But if you are designer bag, I think that's even worse than overspending on a real one. People be able to spot the fakes from across the room. The stitching might be off.
[10:09] The leather quality is wrong. The logo placement is slightly different. So, all you're really doing is carrying a knockoff Louis Vuitton bag to pretend to This is literally the definition of what this video is about. It screams, "I'm
[10:22] spending to buy status. You're buying a fake version of status. Now, some people might say, "I just like the design. I'm not trying to fool anyone." And look, if you too harshly. But even then, you have to ask yourself, why did you pick that
[10:36] design and aren't chasing the logo, wouldn't you rather buy something that's actually within your budget. Because most counterfeits aren't just fake, they're also poor quality. So, you are neither getting the status nor the
[10:49] craftsmanship. Okay, guys, another dead giveaway someone is pretending to be rich is if they're constantly talking about their latest opportunity to get rich slightly fast. I say slightly fast because a get-rich quick scheme is
[11:01] something that's clearly a scam. Like, take my trading course and you'll make improbable. But then there are these get-rich slightly faster than normal schemes. Whether that's forex trading, drop shipping, NFTTS, crypto day
[11:15] trading, multi-level marketing, options trading, infinite banking, it's all some sort of topic that's going to change your life drastically. But that's when head. While a very small fraction of people actually are successful doing the
[11:28] affformentioned activities, most people, 99% of people will fail and lose money. where people are counting their chickens before they hatch and they're operating in the future tense. Real wealth is built slowly and very boringly and it
[11:42] rarely will it come from someone turning 5K into a million dollars in one single year. So, if you come across someone who slightly fast scheme, now you know what to look for. And that's not the only
[11:55] thing you should look for in terms of a character trait or an attitude because that actually moves us to point number nine. Someone who is condescending. If about money towards you, this is a little bit different than the oneupper
[12:08] is just going to criticize every financial move that you make. It's that person at the water cooler who might make an unsolicited comment about what it's all wrong and how you should be doing XYZ to be successful. An example
[12:22] of this would be them saying, "Oh, wow. You're making six figures a year now. apartment a long time ago. I upgraded my you were making. But here's the thing. These specific choices might not be good
[12:34] for them at all. They might just be trying to rationalize their decision by well. Your financial situation is going to be so different from the person next condescending or criticizing of what you're doing with your money, I would
[12:47] stay far far away from them. These people can't acknowledge that you are killing it at your own finances because doing so would require them admitting So, I encourage you to think for yourself when it comes to your own
[12:59] you've learned from this channel and you will be a lot better off. The next and last method today in which you can tell someone is pretending to be rich is that overdoing it with their accessories, overdoing it with how they talk, how
[13:13] cologne they wear. They might see something out of the movies and they successful. I want to look like that character in that movie." Or they see certain way. And they think, "Oh, well, I identify as rich. I should act that
[13:27] way as well." Well, you should know by now that Real Wealth whispers. It won't item that someone owns is designed to broadcast a brand name or they smell store perfume section, they're really not demonstrating wealth here. They're
[13:41] wealthiest people I know often dress pretty normally and super modestly. They might have one or two really nice items, but they're not walking billboards for be. Wealth isn't about showing off. It's having the confidence to live without
[13:55] things to impress other people. Let me know your thoughts in the comments. And 10 things I personally stopped to buy, make sure to check out this video right here because if you liked this video, I think you will really enjoy this one as
[14:08] the channel or perhaps that one. All right, peace.