Why the Easiest Way to Go Broke is By Acting Rich #1772

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3+ y ago 5:22

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In episode #1772, we talk about why acting rich is the easiest way to go broke! There is a difference between being wealthy, and being rich, and we explore what that means in terms of sustainability and financial safety. Ideally you do not want to be living beyond your means to impress others, so listen in to hear a few tips for some better lifestyle choices!

TIME-STAMPED SHOW NOTES:

[00:25] Today’s topic: Why the Easiest Way to Go Broke is By Acting Rich.

[00:29] What does it mean to 'act rich'? The difference between being wealthy and being rich.

[01:16] Making sure your income is greater than your expenses and making space for saving.

[02:15] Adding unnecessary stresses onto your life in order to compete with others.

[02:55] The importance of making sure you have a margin of financial safety.

[03:28] Focus on a comfortable and sustainable life rather than other people's opinions.

[04:09] That’s it for today!

[04:12] Go to marketingschool.io/live to meet Eric and Neil in person!

Links Mentioned in Today’s Episode:

Charlie Munger

Warren Buffett

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