THINK you know someone who has a lot more money than they’re letting on?
Well, apparently there’s one phrase that’s a dead giveaway someone has a lot of cash.
There’s one phrase that’s a huge giveaway that someone is secretly rich, people claim[/caption]
According to one expert, genuinely wealthy people don’t splash to cash for social media[/caption]
This comes after someone took to Reddit to ask what people say that “indirectly indicates” they’re rich.
It’s not designer clothes, pricey cars, or even a swanky home; however, according to Reddit users, one word is all they need to hear to know someone is rich.
Although it might seem like a common response, people thought that if someone described their financial situation as “comfortable,” they’re secretly rich.
“We aren’t super rich, but we are comfortable,” one Reddit user joked.
A second person agreed that the phrase is a huge giveaway and added some others, saying: “We’re comfortable. Any mention of where they ‘summer’ and mentioning money in terms of ‘family’ money.”
A third chimed in: “If you ask about their situation and they only say, “I’m comfortable,” it means they’re comfortable spending a lot of money.”
Meanwhile, someone else said: “‘We’ve been fortunate to not have to worry financially’ – just vague enough to leave a lot open, but still making it clear that they aren’t struggling.”
But others thought bringing up people they hire to work for them makes it clear they’re well off.
“My attorney/landscaper/housekeeper/nanny/personal chef/etc.,” noted one person.
And another just using the word ‘just’ to make things seem casual is a huge clue, he said: “Just do this / just buy that / just pay for that.
“The answer is so simple to them because, about 80 percent of the time, money can solve problems or make them easier.”
“The answer is obvious to them because they have the money to say it.”
This comes after experts revealed people can generally tell when someone is truly rich, and when someone is faking it.
Abid Salahi, co-founder of FinlyWealth, told the Daily Mail that not everything is as it seems when it comes to flaunting luxury, especially on social media.
“I once advised a client who drove a flashy sports car and wore expensive watches yet struggled to qualify for a basic credit card,” Abid explained.
“True wealth is about financial security and freedom, not just the outward trappings of success,” he added.
People who want to appear rich might spend their cash on keeping up appearances too, whereas the really rich might look more modest, at least at first glance.
“Constantly showcasing luxury brands, often with visible logos,” Abid said, “truly wealthy people tend to focus on building long-term value rather than short-term appearances.”
How to effectively manage your money
Kara Gammell, finance expert at MoneySuperMarket, gives tips on how to get a handle on your finances so you have more left for saving,
- Analyse your spending
If you’re struggling to get a grip on your finances, the way to start is to do a proper inventory.
Try Emma, the money management app, which uses open banking to combine information from all your bank accounts, savings accounts and credit cards, plus investments. The app then highlights any wasteful subscriptions and costly debt and helps streamline your savings.
What’s more, it analyses your personal finances and recommends ways to conserve money so that you can get on track financially more easily than ever.
If you want to have a deep dive into your spending habits, go through your bank statement at the end of each month and give every purchase a rating of one, two or three.
Mark with a ‘one’ any purchases that didn’t make you feel good; give a ‘two’ rating to things that felt ‘sort of good but indifferent’; and mark with ‘three’ any purchases that you would make all over again in a heartbeat.
You’ll be surprised by what you learn.
- Monitor your credit report
From overdrafts to loans, credit cards, mobile phones and mortgages, it can be hard to keep track of your finances, and it can be all too simple to find yourself in the dark about how much debt you have in total.
But this information forms your credit score, which is used by lenders to determine whether you’ll be offered competitive rates and offers for financial products, or even whether you will even be accepted when you make an application.
I use MoneySuperMarket’s Credit Score tool, which is a free credit report tool that lets me see all my account balances in one place.
I’m automatically notified when my credit report is updated monthly, which can be a huge help in avoiding any financial problems from spiralling and means I always know what my overall financial situation is.
The tool also suggests ways to improve your credit score, so you’re more likely to be offered competitive interest rates, which helps you save money in the long run.
