10 Millionaire Spending Habits -- How Do You Compare? - Deepstash
10 Millionaire Spending Habits -- How Do You Compare?

10 Millionaire Spending Habits -- How Do You Compare?

Curated from: budgetsaresexy.com

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88% of Millionaires Read 30 Mins or More Every Day

As far as comparisons go, Iā€™m off to a bad start! :( If Iā€™m being honest, Iā€™ve probably only gotten a couple of hours of reading in during the past few weeks.Ā Wait, can we include blogs and reading finance news on the Internet?ā€¦Ā If so, I definitely do that 30+ mins each day!

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Most Millionaires (67%) Watch Less Than 1 Hour of TV Daily

Furthermore, 63% of wealthy people spend less than 1 hour daily ā€œsurfing the Internet.ā€

Well, I guess I FAIL in this category, too. My wife and I usually spend about 1 hour watching TV each night, maybe a little more if weā€™re hooked on a fun series (like our most recent fav, Ted Lasso). But, this TV habit will be kicked shortly when we invite a little one into our home and all our free time disappears! ;)

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Most Rich People (86%) Like What They Do for a Living

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

Probably the most interesting thing I learned about this survey question is how the financially struggling people answeredā€¦ While most ā€œrichā€ people liked what they did,Ā 96% of ā€œpoorā€ 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?

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76% of Millionaires Exercise at Least 4 Days a Week

This makes sense. Whatā€™s the point of accumulating a bunch of money if youā€™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, itā€™s been more like 6 times a week!Ā Ā (Again, this habit will probably go out the window when we have kids haha.)

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67% of Millionaires Said They Were ā€œFrugal With Their Moneyā€

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. Itā€™s actually the oppositeā€¦ 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.Ā 

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Most Wealthy People (55%) Spend Less Than $6,000 on Vacations Each Year

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

But, this is a habit Iā€™m OK not conforming to. Vacationing is something I want to incorporateĀ moreĀ into my life, not less. Well, thatā€™s how I feel todayā€¦ Maybe Iā€™ll be singing a different tune later in life.Ā 

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Wealthy People Do Not Buy Lottery Tickets (94%)

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

My wife and I donā€™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 funā€¦ But not as a lifestyle!

(Ooooh this reminds me, I have to write a post about a book I read calledĀ The Luck FactorĀ which has a great section on ā€œluckyā€ people and how they pick lotto numbers.)

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