5 Poverty Lessons From Christmas Vacation’s Cousin Eddie

Christmas Vacation is one of my favorite movies of all time. I watch it several times in December as Christmas approaches. In my latest viewing I uncovered 5 poverty lessons from one of my favorite characters, Cousin Eddie. I thought I’d share them with you:

  1. Cousin Eddie, like many poor people, believed he was poor because of bad luck. As I found in my research of the rich and poor, poor people create their own bad luck. It’s called Detrimental Bad Luck. Detrimental Bad Luck is the byproduct of having bad habits, poverty thinking, bad behavior and making poor choices in life. Eating in excess can result in obesity and cause all sorts of health issues including various types of cancer, diabetes, heart disease and strokes. Not saving means you will have to rely on Social Security and the financial assistance of family and friends, in your retirement years. If you don’t engage in daily learning to improve your skills on the job, you will be among the first to be let go by your employer. If you live beyond your means and spend more than you make you will accumulate debt that will eventually overwhelm you.
  2. Cousin Eddie gave away all of their money to some preacher. Wealthy people understand that in order to become wealthy you must not only work hard to accumulate wealth, you must work hard to keep it.
  3. Cousin Eddie’s kids talked slang, had poor table manners and had overall poor etiquette. Parents of successful children teach them etiquette so that when they enter the workforce their good etiquette will help them succeed in life.
  4. Cousin Eddie was always waiting for the perfect job opportunity to come along. Opportunities don’t work like that in life. Life requires that you work hard, be persistent and engage in daily self improvement. Only then will opportunities open up for you. Opportunities favor those who are prepared to receive them.
  5. Cousin Eddie made spontaneous financial decisions. He traded his house for an RV without giving it a second thought. Wealthy people are very careful with their financial decisions. When they make a big financial decision, it is a well-thought out one. They do not put themselves between a rock and a hard place that requires desperate measures, like trading your house for an RV.
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Thomas C. Corley About Thomas C. Corley

Tom Corley understands the difference between being rich and poor: at age nine, his family went from being multi-millionaires to broke in just one night, due to a catastrophic fire that destroyed his Dad's thriving business. For fourteen years they struggled with poverty. There were eleven in Tom's family, and they lived in constant fear of losing their home.

Driven by the desire to unlock the secrets to success and failure, Tom spent five years studying the daily activities of 233 rich people and 128 poor people. He discovered there was an immense difference between the habits of the rich and the poor. During his research he identified over 300 daily activities that separated the “haves” from the “have nots.” Tom decided to write a book to share what he learned. That book, Rich Habits: The Daily Success Habits of Wealthy Individuals (1st Edition), went on to become an Amazon Bestseller in the United States forty times over a three year period. To give you some perspective, in order to be a true Amazon Bestseller in the United States, where you actually receive a specific Bestseller designation from Amazon, you need to be in the top 100 of all books sold by Amazon in the United States in a given day. Rich Habits did that for nearly thirty straight days, rising as high as #7, eclipsing such Bestselling authors such as Stephen Covey, Robert Kiyosaki and J.K. Rowlings. Imagine that - an unknown, first-time, self-published author selling more books than J.K. Rowlings!

Tom now travels the world, sharing his Rich Habits and motivating audiences at industry conferences, corporate events, universities, multi-level marketing group events, and global sales organizations’ presentations and finance conferences. He has even spoken on the same stage with famous entrepreneurs and personal development experts, such as Sir Richard Branson, Robin Sharma, Dr. Daniel Amen, and many others.

Tom has shared his insights on various national and international network, cable, and Internet television programs such as CBS Evening News, NBC News, Yahoo Financially Fit, Money.com, India TV, News.com Australia, and a host of others. He has been interviewed on many prestigious nationally syndicated radio shows, including the Dave Ramsey Show, Marketplace Money, and WABC.

Tom has been featured in numerous print magazines—such as Money magazine, Inc. Magazine, SUCCESS Magazine, Entrepreneur magazine, Fast Company magazine, More magazine, Epoca Magazine (Brazil’s largest weekly) and Kiplinger’s Personal Finance magazine—and various online publications, including USA Today, CNN, MSN Money, SUCCESS.com, Inc.com, and the Huffington Post. Tom is a frequent contributor to Business Insider, Credit.com, Bankrate.com and a few other media outlets.

National publicity has garnered international media attention for Tom and his Rich Habits research spanning 23 countries. Broadcast media, online publications, and television throughout Asia, the South Pacific, Europe, the United Kingdom, and Central and South America have shared his powerful message.

In an effort to help parents, grandparents, teachers and adults become success mentors to the younger generation, Tom released his second book, Rich Kids: How to Raise Our Children to be Happy and Successful in Life in 2014. This book was the self-help category winner of the 2015 New York Book Festival and Runner-up in the prestigious 2015 Writer’s Digest Self-Published Book Awards Contest. In 2016 Tom released his third book, Change Your Habits, Change Your Life. This book provides the latest science on habit change as well as more of Tom's unique research on the specific habits that helped transform 177 ordinary individuals into self-made millionaires.

Besides being an author, Tom is also a CPA, CFP, and hold a master’s degree in taxation. As president of Cerefice and Company, CPAs, Tom heads one of the premier financial firms in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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