I just noticed that the modern society loves acting rich. People adopt fake lifestyles to boost their social image and make others believe they are wealthy. Little do they know that acting rich is bad because of the following effects:
- Excessive Spending
The first catastrophic effect of acting rich is excessive spending. Many people who pretend to be rich often spend more than they earn because they always buy expensive things to maintain their ‘rich’ status. Such individuals also spend extravagantly when they are around people to prove their ‘wealthy’ status.
- Excessive Borrowing
Since I started handling money, it dawned on me that most people who love borrowing money act rich. One thing I also realized is that people who act rich have too much debt.
Pretending to be rich is expensive because it makes you spend more than you earn. When you spend more than you earn, you’ll have to borrow money to meet your daily needs.
- Fake friends
You’ll attract several fake friends if you love acting rich.
Some people love having friends who recklessly spend on them. These people will only stick around when you have money to spend and they’ll be nowhere to be seen when you go broke.
Such friends will never be available when you need emotional or financial support. They’ll never tell you to control your spending habits and focus on securing a better future because they’ll always want you to spend on them.
- You Will Never Invest
You’ll never invest your money if you always act rich because excessive spending and borrowing will result in you having no money for investing. Furthermore, because your focus will be on looking rich, investing will be the last thing on your mind
- You Will Never Be Rich
Ironically those who pretend to be rich die poor because of excessive borrowing, lack of investments, and overspending.
‘Pretending to be rich can make you poor, learn to live within your means.’ – Alux.com
- You Will Be Materialistic
Pretending to be rich makes you a materialistic person. You’ll be so obsessed with material things because you’ll depend on them to look rich.
Being materialistic is bad for you because it results in hopelessness, unhappiness, self-centeredness, and selfishness. Besides, you’ll never be satisfied with whatever you have if you are materialistic.
We must stop acting rich because of the harmful effects of this behavior. We must accept our current financial positions, save more money, invest in productive projects, and riches will surely come.
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