7th
The Nouveau Riche Were Once Nouveau Pauvre
I feel like if the New Money crowd wasn’t going around making themselves ghetto lattes, more of us could AFFORD delicious espresso drinks (and by extension [and far in the future] cars, and homes of our own) in the first place. They might not even gain themselves the reputation that they have as a group.
Most Nouveau Riche started out as Nouveau Pauvre - hard-working, dedicated, passionate young people who weren’t afraid to enjoy life and take risks, but were smart with their money. And I hate the connotation that Nouveau Riche has (overspending, overextended, extravagant, etc…). Sure there are some (though fewer today than ten years ago) suburbanites living in McMansions, maxing out credit cards at strip malls, but most of the Nouveau Riche that have survived the recession are still Nouveau Pauvre at heart. They appreciate nicer things and a fabulous life, but consume with restraint and, most importantly, they still see opportunities to save and invest.
I’m not saying that I save in the sense of putting money into a savings account, but I save money by shopping around to find discounts and reduce my impulse purchases, by eating at home before or after a happy hour or night out rather than spending on food at the bar, by hosting and going to house parties and saving on a night out, by buying meats, cheeses and a baguette and sitting at the Georgetown Waterfront rather than eating at a restaurant on the Waterfront, etc… There are occasional splurges, and those can increase in correlation with your income, but if the Nouveau Riche that maintain and increase their wealth and Nouveau Pauvre have one thing in common, it is that both limit their splurges.
This past weekend, I had coffee with one of my Nouveau Riche friends - we’ll call him J. - at Starbucks. He ordered a doppio espresso on ice. I thought it an odd order, made stranger by seeing him add a lot of milk and Splenda to the espresso. While talking on the patio, I found out that he orders the drink and adds the (free) milk and Splenda because it is cheaper than ordering an iced, sweetened latte and tastes the same. In this small act at Starbucks, I realized how J. and his partner, who drive a Land Rover and BMW and are in the market for a $2-$3 million dollar home, became Nouveau Riche.
Okay, back to Nouveau Pauvre: J. and I went to Johnson’s Nursery just off Connecticut and I bought these beautiful golden flower branches for this silver vase I have in my room. They were only $9 (or $3 per branch) and totally brightened up my room (and life).
