Rich People Being Frugal Still
Financial Management

Rich People Being Frugal Still

Sunny drone shot

I think whenever most of us hear stories of people having a lot of money we automatically assume that they just don’t care about money such as shopping without any worry of what the price tag says. For example, want to buy that organic perfect apple that costs $3 for one versus a whole bag of “regular” ones? No problem as one can afford it. Fancy restaurant charging $5 for a glass of water? No big deal.

But that seems to be so far from the truth from my observations. I have actually met more wealthy people who are in many ways just as frugal while wanting the best deals like everyone else. Many of them don’t actually own as extravagant things compared to people who make less than them oddly enough. For example, spending almost nothing on designer clothing versus having the basics.

I guess it relates to that saying where many would say they didn’t get rich by being stupid. Or likewise, many did not get to where they are by spending way more than they have on luxuries in life. Instead they re-invest their money in ways to try and earn more. I find usually people who do spend a ton of money in a reckless manner aren’t well off financially such as having a large amount of credit card debt.

Everyone had to start somewhere. So in that sense it’s not surprising to see people with a lot of money retain the same skills and habits that were necessary to get to where they are.

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