Why do cheap people succeed

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Once upon a time in America, cheap people were respected.

Sort of.

They were called, “thrifty,” and even deserved the praise of founding fathers like Benjamin Franklin, who said, “beware of  little expenses; a small leak will sink a great ship.” Thrift means you measure your financial situation and live within those means.

Always.

Thrift was coded into the American DNA.

Thrift is okay. It’s cool. But being a mooch has never been accepted.

So, how do you know when you’re being thrifty, or being a mooch?

Here’s the most obvious difference: A thrifty person is someone who relies on and conserves their own resources. A mooch sucks up the resources of others to conserve their own.

Mooch Types

You know the type. In a company potluck, they conveniently forget to bring a dish–or even buy a bag of potato chips. They gulp down communal coffee without ever chipping in.

Mooches can be clever calculators. Family mooches carefully calculate and balance the holiday gifts they receive to make sure they will not spend too much on the gifts they give.

Mooching can be institutionalized. We  have societal mooches, for example; people who suck up government resources without even thinking about paying society back. Able-bodied welfare recipients and wealthy tax dodgers are just a few of these mooching types.

Mooch-dar

You can also spot a mooch by their extensive array of excuses. Mooches forget their wallets–or only have cash. They forgot the date of the party. They skip out on birthday get-togethers. But they always seem to remember when someone owes them a lunch, or a gift on their own birthday.

So, while we always encourage thrift on this blog, we want to make sure savings don’t come at the expense of others.

 

This entry was posted in Investing, Money, Success, US Economy on by matt.