Millionaires and billionaires are focused on making the best use of money and accumulating it rather than spending them on pricey designer gear that doesn’t fit their lifestyle and mindset.Instead of purchasing branded products, many wealthy people choose to spend their money on education, health, and wellness.

1. They don’t blow money on luxury brands

3 Things People Who are Good with Money *Never* Buy

Money is not a possession; it’s a feeling. If you understand the concept of money, you can be rich. Filthy rich!That’s why most millionaires don’t feel the need to look rich. They internally feel rich instead.

A millionaire is a mindset, not a title.

So, being a millionaire is not about wearing branded clothes or traveling luxuriously. It’s also not about making your home a liability.Having a million dollars doesn’t mean blowing it off on a white elephant.

Last Thoughts

If you think most people sitting in business class airplane seats are filthy rich, you might be wrong.Even if they have the financial freedom to pay more, rational individuals prefer to travel modestly.Finance experts know that buying old is the best value and that maintaining the same automobile for a long time saves money.

2. They don’t spend a fortune on traveling comforts

Millionaires invest only in affordable homes. If they bought a mansion <a href="https://www.businessinsider.com/millionaires-billionaires-living-in-affordable-homes-warren-buffett-mark-zuckerberg-2019-2">they couldn’t afford, their savings would die, and soon their luxury would convert into their biggest liability.</a>Living in an affluent neighborhood also means you’re more likely to imitate your neighbors’ spending patterns and less likely to build wealth over time.

3. They don’t buy mansions they can’t afford

The measure of wealth is freedom. If you’re living a stressful life despite owning millions, then perhaps, you’re not using it wisely.Being a millionaire means understanding your true wants and living a lifestyle accordingly.

It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy.

People who live far below their means enjoy a freedom that people busy upgrading their lifestyles can’t fathom.

Understanding the concept of money is the key to being rich.

Wealthy people can buy anything and everything they want, right?  NO! They don't use money to buy luxury brands. They don't spend a fortune on traveling comforts. They don't buy mansions they can't afford