Old money and New money : The Difference
TikTok or Instagram reels are always budding up with new trends and finding something new whether it is lifestyle or clothing style or dance or anything like that.
Old and new money aesthetics trend has now been long trending on the Internet People have been obsessed about old money as Hashtags like #oldmoney have garnered about 2.5 billion views on TikTok and #oldmoneyaesthetic with 946 million views. Young people dressed in linens and light shades coats at attractive and stunning locations have become a common place on Internet.
What is old money and new money?
Old money represents generational wealth which could be in the form of cash investment and property. On the other hand new money refers to self-made billionaires and millionaires who have earned money on their own. Some examples of this are Jef Bezos, Mark Zuckerberg and Bill Gates.
One of the famous French terms you might have heard of ‘nouveau riche’ which means ‘newly rich’ which describes people who recently became wealthy and spend their money in flashy and ostentatious manner.
Key difference between old money and new money
1. Source of Wealth
New money may have made money in their lifetime by either building a tech empire or by becoming famous or even making money on social media. Some may even have won a lottery or lawsuit.
Old money passes the wealth from generation to generation. It often comes from family businesses or investments. Some of the examples of old money are Walton family and Hilton family. They feel fierce responsibility to protect and increase their wealth.
2.Spending
Old money although they do live lavishly but they live more in a calculated manner and do not spend on ‘fun’ things and do not flaunt their wealth publicly. Traditionally they are thought to be well educate, refined and respectable. They generally have safe and long-term investments.
New money They are more excited about their funds and spend it more lavishly or publicly. There investments are often riskier because they are new to investing.
3.Leisure
Old money spends its time in a traditional manner and on well-thought activities like in golfing, horseback riding, polo, etc. they also spend time attending high class social events.
New money they tend to buy courtyard seats, basketball games and garage full of shining cars or a joyride on outer space. Basically, they take more vacations and spend money carelessly and go on frequent shopping sprees.
Old money and new money is not only about source of wealth but the values and habits are what determines whether one belongs to lower upper class or higher upper class.
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