Canadian Budget Binder

Who is Mr. or Mrs. Money Bags?  Well, are you the first person who pulls out his/her wallet always offering to pay? Do you have a friend who does this and you think they are super awesome?  Then you or they are likely acting like Mr. or Mrs. Money Bags unless you or they have bank accounts that need using up. Most people “imagine the freedom” to be rich as someone is keeping Ontario Lottery Gaming Corporation and the casinos in business.

Not everyone will become the millionaire but some sure act like they do all the way into what sometimes happens, bankruptcy or flaunting obnoxious behaviour. There is a suave etiquette that follows the well to do people-the right words,the right clothes, the sexy hair style, the latest gadgets, the right laugh, body language, smiles, white teeth, snazzy shoes, the glitzy friends etc. Television and internet often draws dreamers into fantasy land and they want so badly to be on a different level. Not necessarily movie star status but simply a level that their wallet and lifestyle simply can’t support. Some even fall into the shopping addiction trap which can add significant amounts of money to their ever-growing credit line.

Ok, so not everyone wants to be rich but what if you have friends who are this way. Your friends are important people in your life but how do you handle the way they want to spend money when you are around. Do you feel guilty because they are always playing Mr. or Mrs. Money Bags and now you feel obligated to return the favour? Are we really setting good examples for our children when it comes to finances by shelling out money we don’t have?

Being Rich doesn’t necessarily mean being wealthy or happy for that matter it can simply mean “middle class” in your circle of friends or in some cases a “wanna be” middle class. Splashing money around that you don’t have doesn’t move you up a level. Credit is the easiest form of money to get, in my opinion. As for the super wealthy “upper class” they are in a class of their own who may have  nothing better to do than get up in the morning and shoot ducks on their estate just to fill the day. Could they be one of the real housewives of Vancouver’s rich and élite who prance around from spa to shop for the next best outfit and pedicure.

Do you have friends who promise you something just so you go with them? Oh, come on, I’ll buy you a round of golf and a few beers. Do you allow them to buy your friendship, and then you feel guilty?

Recognizing the  Mr. or Mrs. Money Bags signs might help you to take a step back and re-evaluate your friendships and whether you need to be upfront with them or yourself. If you are spending more money than you earn each month and can’t balance the budget because you want others to believe you have what you don’t, you need to give your head a shake.

Don’t let others take control, you are the author of your life, don’t let anyone else write your book. Not many people know how to say, No I’m on a Budget or feel ashamed. No one needs to play catch me if you can because eventually you/they will get caught.

Feeling guilty when you are out with your friends with a burning feeling that you have to flip the bill not only can be damaging to your wallet but your self-esteem if everything crumbles.  How would it make you feel if they found out you were so far in debt or claiming bankruptcy? When they say the rich run with the rich most times it’s true. They want to do crazy over the top things, fancy vacations, posh hotels and transportation. If you don’t have the bank account to support these trends you may find you either are left behind or you become Mr. or Mrs. Money Bags. Some people have so much pride they will dig the hole until the end then pray a debt reduction plan will help them. IN some cases people pray for a miracle but we all know that doesn’t pay the bills.

Have you ever met a woman or a man who talks the talk and walks the walk but at the end of the day heads home to the less ritzy part of town. There’s no shame in that as many millionaires may live next door to you and don’t need to show off to fit in.  Does showing-off get you excited or thrilled or any further in life? Would you rather have a sexy frugal man or woman or a sexy fake rich guy or girl? Some may say yes it will and others like me will say if you’ve got it, you’ve got it and the rest will come. You can’t cover up a toad with a cloak and turn it into a prince and the same goes with humans, if you aren’t rich (in money) covering up with expensive clothes and spouting posh words won’t change the fact you are who you are.

My friend in the UK who we will call “Rambo” has a mum I like to call Mrs. Money Bags. His mother has a well-paying job and many senior level friends. Their relatives are working class and have average paying jobs like most of society. She lives with her husband in a small bungalow, with an in-ground pool and no garage. They have newer vehicles on credit and credit card bills that were huge as Rambo went on to tell me.

They also had kids who took advantage every step of the way and Rambo admits this. He knew mum would always pay, and never blinked an eye probably why he stayed home until he was almost 30. Although the house smaller compared to her friends Mc Mansions she used her wallet to compensate when they came around. I mean many people do live in normal average homes and have money. This is what she wanted them to believe.  We all have friends who always have the latest and greatest toys but could all be put on credit.

What happened?

She started out like Mrs. Money Bags to impress her friends and colleagues who then expected it from that point forward.

Even if at one point she hoped someone else would pay, it would never happen. The people she had in her presence simply didn’t have the money or thought, “oh that’s ok she always pays I’ll save my money”. She still is like this today and although they are debt free later than they could have been she will always be known as Mrs. Money bags unless she puts a stop to it.

How do Mrs.CBB and I stop ourselves from becoming Mr. or Mrs. Money Bags?

1. We don’t pretend to be someone we’re not.  If you’re posh you’re posh, if you’re not, you’re not, just be you.
2. We Save and Pay for own affairs,trips, etc and let others do the same.
3. Hang out with friends who share expenses when it comes to having fun as a group and who understand that money doesn’t grow on trees.
4. Don’t flash our money around or talk about it like we have so much we don’t know what to do with it.
5. Don’t let others take advantage of us. If they borrow money they will pay it back although it’s rare we do this, if ever.
6. We remember that being rich in love is more important than pretending to be someone we are not.
7. We remember that someone else has it worse than us and we live in a society that has more than we will ever know.

I’m sure this could be an ongoing list and many fans who read this post can add to it.

Do you have friends that act like they are rich when they are not?

If you are NEW to Canadian Budget Binder Blog have a peak around to learn more about Budgeting, Finance, Frugal Tips, Recipes and more! I’m Mr.CBB your host and am always ready to chat…..

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