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sylviasmushroomsFebruary 4, 2025

I was gonna say, having lots of liquid cash on hand says “rich” to me. Having a high credit card balance you can’t pay every month says “poor”.

OwnLyingEyesFebruary 4, 2025

There's also often a difference between how generationally/long-term rich people versus temporarily rich people approach it; the former tend to be relatively understated and less conspicuous/flashy, live within their means, and always have an eye on where to cut costs, while people who have suddenly found themselves wealthy can very quickly and easily spend themselves into a very deep hole. Plus just the sheer number of rich people who could easily be busted for tax evasion in one form or another, whether employing/paying people for services under the table, accepting payments for things in cash, making huge purchases in cash without paying sales taxes, etc. Credit/transactions conducted through a bank are for things that are write-offs, or conspicuous (main income, real estate, etc.).

TLDR, 'real' rich people aren't just good at spending money, but at saving it. And one of the ways a lot of them save it unscrupulously is by cutting the government out of getting a cut of a lot of transactions, which tends to mean cash. More above board, it means not paying interest on credit card balances.

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