"New Money"
Kenya Howze And Jalen Dennis 7th pd.
Definition
New Money is a term used to describe those whose wealth has been acquired either within their own generation or that of their parents.Definition: People are spending their money recklessly not due to the fact that they did not foresee the crash in the stock market and the economy.
Old money vs New money
Old Money
"Old Money” Are basically people who have had money for a long time and it has no effect on them. They are used to being rich.
New Money
Those who acquire “New Money” don’t know how to act. When it comes down to acting they act out of the ordinary and those who have had money all their lives find it annoying that they are acting like this. ”
An Example Of "New Money"
Obama wasn't always rich. Him and his mother were very poor. He only Acquired money once he became The President of the United States.
Comparison
I got this picture from this power point in which I found very helpful in my research. It compares "Old Money" & "New Money" . It gives high points on both parts of the situation.
"Old Money"
This picture shows how Paris Hilton is a prime example of "Old Money". She is in A Family who has had money for many generations.
Text Example.
"Its Like the more money we come across, the more problems we see. ~ Biggie "Mo Money Mo Problems" This shows how when people come into a little money people around them and them themselves start acting different.
Quote
"I am still a little afraid of missing something if I forget that, as my father snobbishly suggested, and I snobbishly repeat, a sense of the fundamental decencies is parceled out unequally at birth. " Nick Carraway from The Great Gatsby Said this meaning that not all people have "Old Money". NOt Everyone was born into a more privileged family.