February 13, 2014
Thomas Stanley wrote the wonderful book, Stop Acting Rich. What is the premise of the book? How do you apply it to your life?
Thomas Stanley wrote the wonderful book, Stop Acting Rich. What is the premise of the book? How do you apply it to your life?
The general theme of the book is that people who look rich a lot of the time are the ones who are in the most debt, he says that people need to live within their means and buy stuff that they can afford, by the used Toyoda not the new Lexus, some of the time the most average boring, ordinary people are the ones with the most money because they do not use it to look flashy and save their money and use it wisely to live within their means. I would apply it to my life by living within my means, dont take loans out for stuff you dont absolutely need, buy the stuff that is cheep but still perfectly fine to use, dont get cough up in looks, it doesnt really matter what others think about you, what matters is what you think of yourself.
Great answer, Garrett. You nailed this one. Let’s review.
Thomas Stanley, author of The Millionaire Next Door, The Millionaire Mind, and Stop Acting Rich, has studied the true millionaires like no other. These books provide insight into their behaviors, habits, and lifestyle. They also provide insight into the folks who are acting rich, which happens to be a large segment of our society.
Mr. Stanley tells us that the vast majority of Americans can act rich (flaunt their stuff that depreciates soon after they buy it) or they can be rich (save constantly, invest wisely, and reject materialism), but YOU can’t do both. Grasping this message can change the way you live your life.
Acting rich works in the short term, but fails in the long term as those bills do come due one day. Being rich may not impress many in the short term, but in the long term, you will be the winner based on the freedom those habits provide you, and with freedom comes opportunities to live out your dreams.
Read Mr. Stanley’s books for further insight into this critical subject. Your financial YOU will be grateful.