That’s still “worrying” about bills. I am talking about people who don’t have to worry because they have enough to cover anything, no matter what. They don’t have to save because they have plenty.
I have now repeated myself twice.
Also not everyone can save. A big bill comes in, or they lose income due to an economic downturn, savings disappear immediately and it’s back to starting from scratch again, which takes time. Rich is not ever being in that position when bad things happen.
When I was quite little-say early 1960’s, I felt the same way. Dad was taking part of the family on a vacation and mentioned he had taken out $100 for the trip. As far as I was concerned that was all the money anyone could ever need.
I agree. Being rich is more than being able to cover unexpected bills. That ability is just being competent. Being rich is covering unexpected bills without having to replenish savings or worry about another hit. Basically, spending all the money one wants to and having money left over. Hence those people who have high-end lifestyles but spend it as fast as it comes in. They aren’t rich no matter how many fancy cars they have.
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Being rich is buying an item without looking or worrying about the price. Aside from financial status, I consider having a lot of free time to travel and do not work-related stuff being rich because you have the liberty of investing in finer things in life for your happiness and growth.
I wonder if we could look at it by asking: “If gifted/won/inherited $X, that cash influx would not alter your spending behavior.”
Although thinking about it, I’m not so sure that works. Back when I made enough to get by but didn’t have a lot of savings, a sudden $10k would have just gone into retirement savings.