Dave Ramsey: Rich Living Broke
on Tuesday, February 6, 2018Dave Ramsey Money Quote saying frugality is what the wealthy have over those without spending restraint. Dave Ramsey said:
“Rich people stay rich by living like they’re broke. Broke people stay broke by living like they’re rich” — Dave Ramsey
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The best interpretation of this Dave Ramsey quote is that he believes wealthy individuals maintain their wealth by restraining their spending and living below their means, even though they could afford a more lavish lifestyle. In contrast, those who are broke tend to spend money they don’t have on appearances of wealth, like expensive cars or clothes.
Ramsey is suggesting that truly rich people live frugally despite having money, while broke people try to portray an image of affluence through conspicuous consumption that keeps them trapped in debt. His message appears to be that financial success comes from spending prudently according to one’s actual income rather than perceived status.