Plenty of the strongest clues about someone’s wealth have nothing to do with what they own.
They have job freedom
They could stay at a job they like without feeling like they’re stuck making money any way they can.
If their boss suddenly becomes crazy, they can afford to think about quitting rather than panicking about paying rent or mortgage next month. They can also take time off to retrain for a new career, try something different, or wait for the right job to come along instead of grabbing the first thing they’re offered.
Sure, anyone with a healthy savings account can leave a paycheck behind once in a while, but being able to turn down the first job you’re offered suggests you don’t have to stress about the next one.
They dress without logos
Their clothes may include basic t-shirts, unbranded sweatshirts, tailored pants, and nice shoes that don’t have logo’s embroidered across the front. They may have some luxury items, but nothing that calls attention to itself.
They might put extra money toward tailoring or replace worn-out clothes with high-quality pieces rather than constantly buying whatever’s trendy. There’s research showing that wealthy consumers might prefer “quiet” branding that only insiders know is valuable.
They can afford some convenience
They can budget for a cleaning person when work ramps up, order groceries rather than spending an hour shopping, or spend a little more on a nonstop flight to avoid a layover.
This isn’t about paying other people to do everything for you. Really, it means your budget has enough of a buffer that you can pay for convenience when it makes life easier. Paying for convenience doesn’t make them worry that they won’t have enough left for the electric bill.
They help without going broke
If one of their relatives needs a few months of financial assistance or a friend has an unexpected bill, they might be able to provide support without going into debt themselves or bouncing any of their bills.
Maybe they can fly-home a cousin who broke his leg abroad or pay for someone’s brake repair. They might even help out quietly, without the other person knowing, just by covering their half of the cost.
Obviously not every wealthy person would choose to help in these situations, and being generous is not unique to rich people. Still, having enough financial slack to assist another person without putting your own stability at risk can say a lot about your situation.
They can absorb big costs
If their car needs costly maintenance or an appliance dies, they can take care of it without immediately needing to borrow money, miss payments, or put food on a credit card.
They might have an emergency fund they’ve built up over time, or maybe they just have enough flexibility in their budget to take the hit using their normal income.
This doesn’t mean rich people never stress about money. Anyone can react badly to sudden large losses or financial obligations. But if someone can absorb a large unexpected expense without it impacting their ability to meet basic needs, that’s far more valuable than staying calm if the stock market takes a dip.
They don’t chase upgrades
Their phone might be a couple years old, their car might be so far past its first owner, and their couch might’ve been fashionable in a whole different decade.
When things break or don’t serve their needs, they replace them. They don’t feel forced to constantly go out and buy newer models. Some people do this out of necessity to not overspend. Others just don’t care.
There’s nothing about having an older car or phone that says what’s in your bank account. The telling part is if they can upgrade but just don’t see the need to.
They have more healthcare choices
They may be able to directly pay for a doctor’s appointment with a specialist, receive private treatment, or attend a course of physical therapy without having to postpone other bills. Your country’s healthcare system will influence what this looks like.
In some places, it could mean accessing services that are pricey or hard to receive through public health insurance. This can point to a degree of financial flexibility when those services involve significant out-of-pocket expenses.
But private care isn’t necessarily better care, and many wealthy people will use standard healthcare services too. The hint here is being able to afford options, not that the most expensive option must be better.
They wait for the right deal
They don’t seem pressured to buy a house, purchase a new car, or make any large purchase just because a sale is ending or everyone else is doing it.
They have time to research different options, pay for what they want, or even forgo the purchase if the terms aren’t right for them. And that freedom can stem from having money saved up and a low enough level of debt. However, this can likewise reflect patience and careful planning, qualities anyone can build regardless of income.
Their money is hard to read
They don’t often talk about their income, investments, property, or debts, and their day-to-day lifestyle provides few clues as to how wealthy they are. Perhaps they don’t like to discuss money or simply don’t think it’s an exciting topic of conversation.
Privacy doesn’t inherently mean wealth; people of all income levels are private about their finances. That said, this suggestion deserves attention because someone’s visible lifestyle and their true resources can differ widely. A person might live modestly while holding substantial wealth. Then there are those whose lifestyle looks costly, yet they carry serious debt behind the scenes.
Their money comes from elsewhere
If you tally up everything landing in their account each month, their paycheck might not be the biggest piece of the pie.
Maybe they own a rental property, have stocks that give them dividends, or have a side business they started years ago. And they might keep quiet about these things since they have nothing to do with their current career.
Sources: Please see here for a complete listing of all sources that were consulted in the preparation of this article.
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You can usually tell if someone grew up rich or poor based on how they react in these 8 situations
It’s not the big purchases or vacations that give away how someone grew up, but instead, it’s the little reactions nobody actually thinks about.
You can usually tell if someone grew up rich or poor based on how they react in these 8 situations
