11 Things People Who Grew Up Rich Will Never Waste Money On, No Matter How Wealthy They Are
Wealthy people don't spend their money on just anything.
Ekateryna Zubal | Shutterstock Wealthy people live in a different world from everyone else. From having access to mental health care to sending their kids to the best schools, most would assume that those who grew up wealthy end up living a fabulous life of luxury. But it couldn't be farther from the truth, because there are plenty of things people who grew up rich will never waste money on, no matter how wealthy they are.
While wealthy kids grow into adults who have unlimited access to the finer things in life — vacationing where affluent people go, dressing their best, and shopping at upscale grocery stores — they often grow into adults who believe that true class has an air of mystery to it. And that's why they refuse to spend money recklessly.
Here are 11 things people who grew up rich will never waste money on, no matter how wealthy they are
1. Flashy brand names
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Sure, celebrities might flash an expensive purse from time to time, but those who are born into wealth aren't as forthcoming. From wearing plain t-shirts to simple pants, most people won't catch a wealthy person wearing something flashy, unless there's an important event they need to attend.
However, this isn't all that surprising as, according to the Michigan Journal of Economics, the average monthly income in New York is $6,283. And while this isn't enough to go all out and buy a designer item, 24% of people reported owning something by Louis Vuitton. It's unfortunate, but it's just another strategy on how designer brands target the middle-class, making them poorer.
2. Over-the-top cars
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One of the things people who grew up rich will never waste money on, no matter how wealthy they are, is over-the-top, expensive cars. They may have the means, but they likely aren't willingly spending a house payment on a car, of all things.
Maybe it's because they already had nice sports cars growing up, but as adults, they just aren't impressed by flashy things. Being taught from a young age that quality matters, rich people tend to gravitate towards more dependable vehicles. According to research from Experian Automotive, people earning $250,000 or more aren't buying luxury cars; rather, they tend to buy Hondas, Toyotas, and Fords.
3. Trendy supplements
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Usually appearing as targeted advertising, everyone has come across ads for supplements. Whether it's cortisol face cream or the perks of using beef tallow, most people could admit that they've been influenced by these ads.
But people who grew up rich simply won't purchase them, as they already have access to the best medical care and food quality possible. Not worried about lacking vitamins, wealthy people aren't as concerned about their health as the average person.
According to KFF polling data, "About six in ten adults say they are either 'very' or 'somewhat worried' about being able to afford the cost of health care services." So, it isn't surprising that wealthy people don't buy supplements because even if they were to get sick, they could just go to a good doctor for care.
4. First-class tickets for short trips
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Most people dream of flying first-class at least once in their lives. Whether it's only a few hours or half a day, being able to have extra leg room and gourmet food is a unique experience. But people who were born into wealth simply don't do this.
Unlike everyone else, wealthy people have already experienced first-class flights multiple times and know the perks it comes with. As a matter of fact, they might even get bored, which isn't a good thing as, according to researchers Patricia Lockwood and Jo Cutler, being bored can negatively affect mental health and lead to low performance at work or school.
While it's nice to book a first-class ticket, average people shouldn't feel pressured to do it constantly. Unless someone has loads of money in their bank account, they aren't too keen on wasting money on a little extra leg room anyway.
5. Overdone home decor
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It's tempting to want to decorate a home to make it look like something off of Pinterest. With so many trends, many can't help but change their decorations every couple of years. But as most people can imagine, all of this updating can be costly.
According to experts from Decorilla, simply decorating a living room might cost $2,000 to $18,000. While rich people love nice homes, they like practicality more. With such busy schedules, the last thing they want to do is have another project on their hands.
6. Lottery tickets or get-rich-quick schemes
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One of the things people who grew up rich will never waste money on, no matter how wealthy they are, is lottery tickets or schemes that will supposedly earn them money quickly. It's tempting to want to spend money this way, especially when someone's struggling, but wealthy people don't need financial help in this way.
While lottery tickets might seem like a thing of the past, according to the Bureau of Labor Statistics, people aged 65 to 74 spent an average of $132.43 on lottery tickets in less than one year. So, while it might seem irrational, these get-rich schemes are still going, sucking people in as they waste hundreds of dollars at a time.
7. Constant tech upgrades
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Back in the day, it wasn't uncommon for people to see kids with new iPhones or iPads as upgrading technology was the norm. Rich kids, especially, wore Beats headphones alongside Mac laptops, while everyone else looked on in envy. However, the days of flexing culture are long behind them, as wealthy people don't care too much about tech upgrades.
A 2024 U.S. study found that China's technology is stronger than people anticipated, and a perfect example of this is the Huawei phone. From measuring UV rays to having a lens camera that can be used to take selfies, Apple is severely behind, likely due to being one of the few major tech companies in the United States.
8. Flashy homes
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Everyone dreams of living in a big, flashy home surrounded by fancy furniture and sky-high gates. In a safe environment where they can walk their dog in peace, everyday people work hard towards that dream, going to college and working overtime.
Unfortunately, this isn't the reality, as home prices are soaring with no sign of stopping. According to the U.S. Department of the Treasury, since the 2000s, inflation-adjusted house prices rose about 65%, whereas the median household income barely rose.
The wealthiest people tend to live in large homes, but for the most part, they aren't living beyond their means. And while this might seem like a waste for some people, rich people who grew up in this lifestyle have already experienced living lavishly.
9. Expensive jewelry
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Way back when, it was common to hear musicians flex about their jewelry collection or the type of fancy designer shoes they had. But flashy, expensive jewelry is another of the things people who grew up rich will never waste money on, no matter how wealthy they are.
From precious gemstones to over-the-top necklaces, people who grew up rich aren't all that impressed. Considering they've taken so many etiquette classes and surrounded themselves with wealthy people, rich kids grow up to be wealthy adults who aren't too keen on flashiness.
That's because flashiness is something that's pretty frowned upon in the etiquette world. From sitting up straight to wearing low heels in the mornings, wealthy kids are taught that their behavior and looks matter, which is why they hesitate to do anything that's too extravagant.
10. Trendy beauty products
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Despite how much people roll their eyes at consumerism, if buying new skincare products makes it easier, we should all go for it. But rich people won't spend a penny on these trendy, expensive products.
Yes, it feels good to have everything that's considered cool nowadays. But since rich people have access to the best cosmetology procedures and dermatologists, they usually take advice from the professionals, not influencers from TikTok. They might be influenced to buy a new perfume, but for the most part, they ignore what's trendy and focus on what's best for their personal needs.
11. Multiple assets
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People with a lot of money have multiple homes, sometimes in different countries. But for the average rich person who grew up wealthy, their family is different.
They might have a getaway mansion or beach house somewhere, but other than that, they're keeping their assets to a minimum. Not wanting to spend money to maintain it, they'd much prefer to pick and choose which assets make the most sense based on their own needs.
Marielisa Reyes is a writer with a bachelor's degree in psychology who covers self-help, relationships, career, family, and astrology topics.
