When we talk about rich people we think about the “lifestyles of the rich and famous,” luxurious mansions, exotic sports cars, designer clothes, and sparkling jewels. The super-rich people are often seen as people who only shop at the finest stores, throw cash around like it’s Monopoly money, and would never be seen at a big-box store, while the rest of us walk the aisles of Target for a few dollars off on toilet paper.
However, people couldn’t be more wrong because this isn’t always the case. Additionally, the person standing next to you in the store, price-comparing different packages of toilet paper, might actually be a multimillionaire.
According to a survey of 1,200 ultra-high-net-worth investors released by the financial information site Millionaire Corner, a third of people with a net worth of more than $5 million say they shop at Walmart, while the other half shop at Costco and more than 40 percent go to Target. If you think about it, they’re rich for a reason, and one of those reasons may be that they’re smart shoppers. So, read on to find out what do rich people refuse to overspend on.
The moral of the story: Know when to splurge and when to save.
