10 Millionaire Spending Habits -- How Do You Compare?

Woohoo! I definitely align with this one. I love what I do for work currently – and so does my wife!

Probably the most interesting thing I learned about this survey question is how the financially struggling people answered… While most “rich” people liked what they did, 96% of “poor” people said they did NOT like what they did for a living.

Surprising? Not surprising? Maybe when you have financial stability it changes the way you perceive your work?

This makes sense. What’s the point of accumulating a bunch of money if you’re not healthy enough (or alive) to enjoy spending it!? Investing your money coincides with investing in your health.

My wife and I work out at least 4 times a week. Lately, it’s been more like 6 times a week!  (Again, this habit will probably go out the window when we have kids haha.)

Other frugal stats for millionaires:

30% of wealthy people clip coupons

8% shop at thrift stores!

This dispels the myth that rich people splash around money without thinking. It’s actually the opposite… Most wealthy people are quite intentional with spending, looking for added value and discounts wherever possible. My wife and I are proud to say we align well with this spending habit. We love us some Goodwill bargains. 

Ah, crap. Not only did my wife and I blow $8k+ on vacations last year ($4k on our Hawaii trip alone), but this year we’ve got $10k in our travel budget! Oooops.

But, this is a habit I’m OK not conforming to. Vacationing is something I want to incorporate more into my life, not less. Well, that’s how I feel today… Maybe I’ll be singing a different tune later in life. 

Only 6% of surveyed wealthy people buy lottery tickets. Whereas, 77% percent of survey respondents who struggle financially play the lottery weekly. 

My wife and I don’t play the weekly lotto. But we love going to Vegas every now and then and playing craps (at the cheapest table we can find). Gambling can be fun… But not as a lifestyle!

(Ooooh this reminds me, I have to write a post about a book I read called The Luck Factor which has a great section on “lucky” people and how they pick lotto numbers.)