Big Hat, No Cattle
People in Texas have a great way of describing someone who tries to look like more than he really is. They call him a “big hat, no cattle” guy.
In other words, he may look like a wealthy rancher, but in fact, there’s no ranch, no cattle, no nothing. Just a big hat (and probably a fancy car). Every day, I meet people who look rich. You probably meet them too. They have nice clothes, drive nice cars, and sometimes even live in nice homes. But when you peel back their finances, what you find is that they don’t own what they wear or drive or live in. It’s all rented or paid for with plastic. All they really have is a heaping mound of credit card debt.
What about you?
— David Bach, The Automatic Millionaire
