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In the age of social media, many people pretend to be wealthy, and it can be hard to tell the truth with all the posturing going on. If you aren’t sure if you’re being fooled, here are 10 signs of a fake rich person and how you can spot them.
10 Signs of a Fake Rich Person
1. They rely on credit cards to pay for things.
A person may have expensive, luxury goods. However, that doesn’t mean they’re rich. If you want to know if someone is faking, pay attention to how they pay for things. Are they constantly using credit cards, or do they pay with cash or debit? Do they have a black card? Has their payment ever been denied?
Many people go deep into debt by using their credit cards to keep up appearances. This usually means they have no savings and everything they own is on finance. Even if they earn a high salary, rich fake people may be living paycheck to paycheck for the sake of status.
2. They have a need to impress people.
Other signs of a fake rich person are how far they will go to impress people. They need validation from those who are wealthy, and they thrive on the approval of others.
Therefore, they make extra efforts to show off status items that give the impression that they are rich. Think of the people who constantly post on social media about their wealth. Some work it into conversations to let people know how much they paid for a particular item. Others seem to have a knack for redirecting all their conversations back to their expensive purchases and achievements. All of these are red flags that things aren’t as they seem.
3. Money is all they can talk about.
Most people are well-rounded and have varied interests. However, fake rich people tend to fixate on money. All they can talk about is how much they spend, how much they are going to make, and the price tags on coveted luxury items. It makes sense though since their lives revolve around the perception that they have money.
Of course, there are other reasons why people steer every conversation back to money-related topics. Whatever the case, it makes for boring conversation for those with no interest in finance. And, it is an indication of their priorities and motives in life.
4. They always want more.
It never ceases to amaze what lengths some people will go to in order to impress people. Fake rich usually do this by trying to keep up with the hottest and most expensive trends. They will have the newest “it” items and shame those who don’t. Then, when the next big item is announced or released, they are ready and waiting in line to be the first to have it. Nothing is ever good enough and they waste money on fads instead of assets with appreciating value.
This also applies to financial opportunities. Fake rich phonies also like to talk about the next big thing or their current project with huge earning potential. Yet, they never have anything to show for all their grand plans. They may talk abstractly or chase several ideas rather than commit to one and work to bring it to fruition. In the end, they spend more time appearing to be successful than making it happen.
5. They care more about perception than quality.
Fake rich people want you to know when they have spent a lot of money. So, they will usually have designer items and spend more on labels. They tend to buy pieces where the logo is big and bold rather than better-made items where the label is less visible. For them, owning these items is about making a statement, not the quality of the product.
Another sign that someone is fake rich is the discrepancy in the value of their home and their vehicle. If they own a car that is more than 15% of the value of their home, it is clearly a sign that they are living beyond their means. Also, be wary if they assign themselves a more complicated job title to appear more important. These are the types of people who can more about perception than reality.
6. Fake rich people compare what they have to everyone else.
When you are dealing with deception, people will make extra efforts to show how much they belong. They take the time and effort to showcase what they have in comparison to everyone else. For example, fake rich people want to show off their latest purchases and luxury items or point out what they view as flaws in others. They may also be the one-upper who always points out how much better they’re doing as a means to hide it. These are all clear signs of a fake rich person.
7. They constantly brag about who they know or where they’ve been.
Have you noticed that the person in question finds ways to namedrop important connections? It’s because they know the power of these connections. And, they want to gain clout in social circles, emphasize social connections, and make themselves seem more important.
Fake rich are the type to brag about places they go to or post every outing on social media as well. But when it comes time to meet these people or frequent these locales, there’s always an excuse why they can’t. Therefore, be cautious around the boastful and take everything with a grain of salt.
8. Their circle consists of other fake rich people.
According to Jim Rohn, we are the average of the 5 people who we spend the most time with. So, chances are if they hang around other fake rich people, they are all in the same boat. Like a force of nature, they gravitate toward each other. Sometimes it’s to support pretenses, and other times, it’s an attempt to posture themselves over the others. Both scenarios make for an uncomfortable scene.
9. There’s always an excuse.
As with all liars, there’s always an excuse. The fake rich avoid plans that involve expensive restaurants, ticket venues, vacations, or other things they really can’t afford. And when it comes time to pay, they frequently “forgot their wallet” or need to borrow money since they “don’t have enough money in that account right now.”
Other excuses include reasons why they can’t host gatherings, causes for their latest business failure, or schedule conflicts that prevent you from meeting important contacts. Eventually, the excuses run dry, and the truth comes out.
10. They can’t hold deeper conversations about building wealth.
The final and most evident clue is their lack of financial knowledge. Most people can talk on a surface level about investing and personal finance. Fake rich may even have practiced a few conversations or prepared scripted responses to avoid suspicion. But when pressed, they reveal that they don’t have much financial literacy. Perhaps they can’t provide details on how they built their wealth since it doesn’t come from their experience. However, their falsities are usually revealed through a lack of awareness of legal or accounting matters.
What Separates the Real from the Fake?
Truly wealthy people don’t need to prove it to others. If you’re happy and doing well, then there is no need to broadcast your wealth to the world. Wealthy people tend to be more sensible with their money and quieter about their finances.
The truth is that people get rich by not spending money and by understanding their finances. They don’t waste their money on stupid things and don’t need validation from others. It can be hard to tell the real from the fake sometimes, but true quality always reveals itself in the end.
Read More
- Living a Rich Life While Broke Isn’t Impossible
- What Does It Mean to Be Rich?
- 6 Financial Tips I Learned from “Crazy Rich Asians”
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Jenny Smedra is an avid world traveler, ESL teacher, former archaeologist, and freelance writer. Choosing a life abroad had strengthened her commitment to finding ways to bring people together across language and cultural barriers. While most of her time is dedicated to either working with children, she also enjoys good friends, good food, and new adventures.
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