12 Things Wealthy People Never Waste Money On
Rich people know how to protect their wealth — here are 12 things they refuse to spend foolishly on.
- Chris Graciano
- 2 min read
Making a lot of money isn’t the only factor in creating and maintaining wealth. It all depends on how prudently you use it. When it comes to some purchases and behaviors, wealthy people are surprisingly thrifty. Here are 12 money-wasting habits of the wealthy and how you might emulate them.
1. Trendy Tech Gadgets
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The wealthy don’t rush to buy every new phone or gadget on launch day. They invest in reliable tech that serves a purpose and skip upgrades that offer little value.
2. Brand-Name Clothing
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Expensive logos don’t impress those who already have money. The rich often choose quality over branding, opting for timeless, well-made pieces.
3. Daily Takeout Coffee
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Spending $5 daily on lattes adds up fast. Many wealthy people brew at home or use high-end machines, saving thousands over the years.
4. Luxury Cars (Bought New)
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They understand that cars depreciate the moment they leave the lot. Wealthy individuals often buy used high-end vehicles or lease them instead.
5. Over-the-Top Weddings
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Big money doesn’t mean big weddings. Many affluent people prefer meaningful, smaller celebrations and skip the overblown extravagance.
6. Extended Warranties
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They do the math and often find these aren’t worth the extra cost. If something breaks, they have the funds to handle it without added insurance.
7. Impulse Purchases
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Rich people plan their spending and avoid emotional buying. They research, compare, and weigh long-term value before committing.
8. Fast Fashion
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Quick trends fade, and the quality is often poor. The wealthy invest in clothing that lasts, both in durability and style.
9. Lavish Home Decor Updates
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They don’t redecorate every year based on trends. Instead, they choose classic designs and durable furnishings that stay relevant for decades.
10. Premium Cable Packages
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With streaming options galore, many wealthy households cut traditional cable. They pick what they actually watch and ditch the rest.
11. Gimmicky Fitness Products
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Wealthy people focus on results, not marketing hype. Instead of wasting money on the latest exercise fad, they invest in proven routines or personal trainers.
12. Fancy Kitchen Gadgets They’ll Never Use
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A drawer full of unused appliances is not a wealthy habit. They invest in versatile, high-quality tools they actually need.