Fancy Sport Car does not make you rich

“Fancy” Does Not Make You Rich

“Fancy” Does Not Make You Rich

In another episode of Andy’s financial tips, he shares one of the biggest financial mistakes he made, early on in his life.


Hi, this is Andy for Grit. What does fancy mean? We sometimes succumb to spending on fancy things—a car, a bag, shoes, whatever it might be; something fancy to perhaps get external validation, to maybe look rich. And look, I firsthand made the stupidest mistake of buying a sports car when I was 24. Not that I was a fan of German engineering, it’s because I wanted to look rich; I wanted to show off. This was still in my formative years at 24. Guys are a little immature, aren’t they? Perfect example. And that was one of the worst decisions in my life and I’ll talk more about later but that was a terrible decision. It did not help me get rich, it set me back.

That’s one of the biggest mistakes people do, is thinking that they can spend to look rich, when in fact it holds you back. Now I’m not saying be a miser and skip on that latte or as your mates often say; no, that’s not what I’m saying. If you want to spend because it brings you joy and brings you happiness, yes, but not, not if it is for seeking external validation. I’ll talk to you soon. Bye.

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Wendy Oliver

A seasoned lawyer and legal compliance expert specializing in the financial sector, Wendy has worked in large law firms and as in-house counsel for companies such as Bank of America and OnPoint Credit Union, and educational institutions such as the University of Chicago and Duke University. She’s also worked at a fintech startup, a consumer lender and a large credit union, as well as running her own practice advising financial institutions.
Well-versed in the ins and outs of disclosures and agreements, contracts and corporate matters, Wendy is most excited about helping others to achieve financial stability, something she had to grapple with herself in her younger years and as a law student. Her goal is to ensure Grit’s financial wellness tools not only help people through financial emergencies, but also establish long-term habits for financial success.
How she got her financial grit: “In college, when I was living off loans and part-time work, I had a budget and that really helped me. After college and law school I had loans to pay. Budgeting and understanding where your money goes can really make a difference in your financial security.”


  • General Counsel, OnPoint Credit Union
  • Chief Compliance Officer, Aven
  • Asst. General Counsel, Bank of America
  • Duke, U. of Mich, U of Chicago


  • Led compliance function for the industry’s first Home Equity backed Credit Card
  • First GC at Oregon’s largest credit union preparing institution for crossing $10B threshold


  • 30+ years of experience in Banking Legal and Compliance including Startups, Scale Players, & Regional Players