20 Frugal Rich-People Habits You Should Take On, Too

How Super Rich People Stay Rich

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How Super Rich People Stay Rich
Cheapism; xavierarnau/istockphoto; AleksandarNakic/istockphoto

Just Because You Have It, You Don't Have to Flaunt It

Frugality isn't exclusive to people who are on a tight budget because they have to be (*cough* us *cough*). There's an entire conglomerate of super-rich people who have cheapskate tendencies that prove that just because you have the money doesn't mean you have to spend it. 

Satisfied homeowner resting on a couch

1. Living Below Their Means

Obtaining wealth is one thing, but preserving it is a different beast. Rich folks don't allocate every cent they have or earn to something. Instead, they live below their means so there's lots of wiggle room and plenty of opportunity to save up.

Warehouse store

2. Buying Groceries & Household Staples in Bulk

If you're going to use it, need it, or buy it eventually, you might as well stock up on it if the bulk price shakes out to less money than the alternative way to shop. Not to mention, you won't have to go to the store as much if you buy in bulk, which saves you both time and gas money.

Serious young adult business executive, brainstorming at work.
Moon Safari/istockphoto

3. Investing Wisely

You might think that the super-rich just tell their financial advisers to do whatever they can to make them richer, keeping their own hands off their investments. In reality, rich folks are usually pretty involved with their investments, ensuring they're making smart financial moves. Most millionaires also invest in their company's 401k plans to maximize the growth of their wealth even further. 

Woman Crossing Items of Shopping List

4. Sticking to a List at the Grocery Store

Remember when you were a kid at the grocery store, daydreaming about becoming rich one day so you could buy everything Mom said "no" to? Turns out rich people don't approach grocery shopping that way after all. Most millionaires use grocery lists when shopping.

Close-up senior man pays bills with credit card
Abdullah Durmaz/istockphoto

5. Avoiding Debt

Super-rich people tend to only take out loans with favorable interest rates, and they make it a habit to pay their credit card bills off every month, only using them to take advantage of things like cash back rewards.

Brunette female customer selecting basic garments at the store.

6. They Hunt for the Best Deals

Just because wealthy folks have plenty of money doesn't mean they're going to pay $20 more for something they know they can get cheaper at another store. 

Portrait of cute female driver steering car with safety belt

7. Driving Reliable Vehicles

Not every person with a big fat bank account is cruising the highway in a Lamborghini or a tricked-out Escalade. Instead, these folks gravitate toward reliable, fuel-efficient rides.  

Piggy bank with dollars banknotes

8. They Feed Their Savings Regularly

If there's one thing you can bet on, it's wealthy people doing everything they can to stay wealthy. So, they regularly add money to their savings and invest, often setting up automatic deposits.

Woman checking the energy efficiency of her home

9. Embracing Energy Efficiency

From purchasing energy-efficient appliances to driving electric vehicles, rich folks pursue ways to save energy and money simultaneously. 

Woman Preparing Healthy Meals

10. Planning Meals and Cooking at Home

Do rich people enjoy dining out? Sure. But on regular basis, they often do more cooking at home and meal planning to keep themselves from unnecessary spending.

Minimalist style tiny room
Phongpun Loomthong/istockphoto

11. Leaning Into Minimalism

Less is more if you ask the rich, who make it a point to decorate their homes from a minimalistic perspective.

Asian woman planning budget and using calculator on smartphone.

12. Tracking Expenses & Budgeting

The rich aren't out here spending money all willy-nilly. They keep track of what they're spending, and many of them follow a budget to keep themselves (and their savings) on track.

Happy couple at home booking a trip online

13. Using Travel Points for Discounted Vacations

Travel points come in handy across every demographic, including the uber-rich. Not every vacation a rich person takes is a lavish one. Instead, they'll use their frequent flier miles, find the best hotel rates, and splurge sparingly.

Fashion Designer Evaluating Fabric Choices in a Boutique

14. Seeking Quality Over Quantity

You might check price tags when you shop and leave things over a certain number on the rack since you can get multiple items for the same price on a site like Shein. The fact of the matter is, those Shein shirts aren't as good of quality as those pricier items you left behind.

Woman in a Backyard Garden

15. Home Gardening

Why waste money on produce at the grocery store when you can grow your own? Not every rich person has their own personal gardener on their payroll either — some do it themselves.

Carpenter installing decking boards

16. Doing Things DIY-Style

The allure of DIY knows no bounds. Even rich people like to tackle DIY projects.

Young couple man and woman argue about overspending money on online shopping, gambling, food delivery. Husband and wife, holding credit card and digital tablet, having issue with home finances.

17. Avoiding Lifestyle Inflation

Coming into more money doesn't have to be a green light for increasing your spending just because you can. Resist the urge. 

Simple But Modern House Design

18. Living in a Modest Home

Sure, this isn't true for every rich person, but not everyone who has a ton of money lives in a mansion. Admittedly, rich folks do have a different definition of "modest" than the average person. 

Businesswoman smiling while text messaging good news

19. Not Giving In to the Latest Tech

The super-rich might not be as tech-obsessed as you'd think, and many of them resist the urge to upgrade their phones every time a new model rolls out.

Meeting success. Two business persons shaking hands standing outside

20. Negotiating Everything

Talking someone down on the price of a car, house, or another purchase is not beneath rich people. They will negotiate with the best of 'em to get the best deals.

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