Tuesday, 28 July 2009

Dress to impress

When I began my money seeking, one of the things I used to hear a lot was "dress to impress", in order to attract wealth. Is this really true?

I always see a beggar in a suit, in my area, and although he is "well dressed", he is clearly not wealthy enough to stop begging. One day, I saw him getting another suit out of rubbish discarded in black bin bags. Dressing well does not mean you are rich, and it does not make you rich.

Richard Branson doesn't dress to impress. He wears his normal clothes, and he is a billionaire. What you do to get money, is far more important than what you wear.

If you wear wealthy clothes, you are a target for getting robbed. For some reason, a lot of people resent those who are rich, so you can make yourself a target by wearing fancy clothes and driving flash cars. I remember the book "Secrets of the millionaire mind", where author T.Harv Eker said that when he drove his flash car to a poor neighbourhood, people would always try and vandalise it. Dressing to impress, and showing off to people is not always a good thing.

On the issue of buying high quality clothing, Donald Trump in the book "Think like a billionaire", says that you should always buy expensive suits because they feel and look better, and last longer. I disagree, for example Tescos suits look excellent, are about £30 and are so good, you can even machine wash them, saving on dry cleaning bills. I would rather have that than a £1000+ suit any day. Clothes are mainly made for a few pence in third world countries anyway, especially the expensive ones, so why overpay?

People can't tell the difference between expensive clothes and cheap ones. My pvc jacket gets mistaken for leather all the time.

The "millionaire next door" is a book all about being unassuming and living frugally. It says that long term wealthy people are likely to dress casually and look like the ordinary person next door. They are rich because amongst other things they do not waste money on high status goods and clothes, in order to impress people.

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Straight from the horses mouth