How do people afford expensive things?

6 things the rich won't spend money on

by Nils Matthiesen

Have endless money and squirt with full hands: Exactly rich people often do NOT do that. On the contrary - they avoid certain things!

Rich people can buy anything they want, right? But don't do it. On the contrary, most wealthy people are particularly conscious of their money - that's why they got rich in many cases. ZASTER shows 5 things that many well-heeled people keep their hands off of.

1. Pay TV & Video Games

Rich people didn't get wealthy staring at a television screen all day. For this reason They rarely waste money on expensive pay-TV packages or the latest game consoles. According to Nielsen polls, adults in households with an annual income of less than $ 25,000 spent significantly more time consuming media (television, video games, or radio) than adults in households with an annual income of more than $ 75,000. In addition, rich people tend to watch TV less generally. 67 percent of this group even stated that they do not watch television at all.

2. Overpriced real estate

Although their budget is significantly larger, they are rich people are still keen on bargains. They care about the feeling that they are getting the best bang for your buck and not be ripped off. As a result, some wealthy people live in extremely humble homes. Investor legend Warren Buffett, one of the richest people in the world, still resides in the small house he bought in 1958 for $ 31,500.

3. Experience instead of products

Research has shown that money and material things rarely bring good luck. Instead, it is experiences that lead to a full life. According to Jaime Tardy, author of "The Eventual Millionaire", the rich choose experiences rather than new gadgets.

4. Retirement planning

Nobody is going to advise you not to invest in your retirement savings. But retirement isn't a big issue for rich people. The simple reason: You enjoy your work so do not plan on stopping. A study by Barclay's Wealth found that 54 percent of millionaires want to work past retirement age, and 60 percent of people with net worth of $ 15 million or more plan to work "regardless of their age."

5. Gambling

Of course, rich people don't have to play the lottery - they are already rich, after all. Regardless, many hold Gambling for pure waste. Warren Buffet has even attacked the US government for this reason, accusing it of taking advantage of its citizens. "A government shouldn't make it easy for people to take their social security insurance and gamble with it," said Buffet. He even put a slot machine in his house to test his children to see if they would put their pocket money in it.

6. Impulse buying

No matter whether the chic cashmere sweater in the shop window or the trendy sneakers at Zalando. Nowadays, it is common practice to “just” afford something. But many rich people refuse to buy such pleasure. "If you buy things that you don't need," said billionaire Warren Buffet, "you soon have to sell things that you need."

Nils is a journalist, copywriter and one of the first digital natives. He has been dealing with the topics of pensions, investments and the stock market for over 20 years. Personally, he now relies more on fund savings plans than active stock picking.

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