11 Things People With Quiet Wealth Never Waste Money On
Quietly wealthy people don't usually flaunt their financial status.
iona didishvili | Shutterstock With social media, it seems there's always a celebrity or influencer showing off their collection of expensive clothes, jewelry, or cars. In the past, it might not have felt like a huge deal, but as times change, people have grown increasingly frustrated with the income disparity between the ultra-wealthy and the middle class. Even so, rich people aren't necessarily flaunting their money, as there are many things people with quiet wealth never waste money on.
These people aren't driving around in a Lamborghini with designer sunglasses; rather, they are living among normal folk, driving used cars and living in unassuming homes. While people who like to flaunt their wealth might not understand it, those who are a bit more quiet about it strategize and only spend money on things they absolutely need.
Here are 11 things people with quiet wealth never waste money on
1. Name-brand clothing
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Everyone has seen influencers showing off their Gucci belt or Louis Vuitton purses. It might feel tempting to buy these luxury brands, since they're a staple for wealthy people, but actually rich individuals understand that needing to buy these brands screams "new money" or "careless spending."
Most designer brands aren't truly worth the hype and cost. Whether it's overpriced shoes with mid-quality material or trendy handbags that carry those sought-after initials, some people waste thousands of dollars on these items, all for clout.
But quietly wealthy people choose to spend money on other brands, opting for "cheaper" clothing that will last a decent amount of time and won't cost a pretty penny.
2. Big, sprawling homes
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Everyone has driven past nice neighborhoods and have seen large McMansions with picture-perfect lawns. When looking at these beautiful homes, people aspire to one day afford to live in them, but people who are quietly wealthy just haven't bought into this.
Truly wealthy people tend to live in relatively small or mid-sized homes. If they have a family, they might upgrade to a medium-sized home, but once their kids are out of the house and their home becomes empty, they tend to purchase smaller, unassuming homes.
On the outside, this might not make a whole lot of sense to most people. After all, why purchase a smaller home if someone is incredibly wealthy? Well, with the cost of property taxes, maintenance, and cleaning services, wealthy people are almost always finding ways to keep their expenses to a minimum.
And according to a study published in the Journal of Family and Economic Issues, financial worries and psychological distress are associated with one another. So, even if others view it as a waste of money, in a rich person's eyes, a huge home is just a waste of time.
3. Overpriced cars
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When people think of rich individuals, they likely believe they own multiple cars that are quite expensive. But, believe it or not, one of the things people with quiet wealth never waste money on is luxury cars.
Overpriced cars not only have a large price tag, but cost a lot to upkeep. With their pricey parts, to simply not being built well, rich people choose to spend their money elsewhere on either used or reliable cars. And 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.
While people with "new money" choose to make large payments on cars, those with true wealth are investing in other things, making them richer in the long run.
4. First-class plane tickets
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When people think of wealth, they often envision private jets or flying first class. But in the words of Cardi B, "My ears still pop," so does first class truly even matter? Probably not, which is why people with quiet wealth never waste money on first-class plane tickets.
When someone is traveling a lot, it's not always wise to spend so much on plane tickets or chartering a private jet. As convenient and comfortable as it may be, first-class tickets don't truly provide benefits aside from more leg room and nicer food. If someone is flying for only a few hours, sitting in discomfort is much better than wasting upwards of $10,000 for a few free drinks.
In fact, according to MoneyDigest, "People who fly first class usually earn between $150,000 and $500,000 a year. Though they're well-off, not all of them are ultra-wealthy with more than $30 million in the bank. For many, the splurge on a first-class ticket is just a comfortable choice, not a drop in the bucket."
That being said, there are exceptions to the rules. For instance, if they're taking a 16-hour flight, wealthy people may purchase first-class tickets for their comfort. However, a lot of quietly wealthy individuals would rather use that money towards the trip itself, which is why they fly business or economy.
5. Constant tech upgrades
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Every year, tech giants like Apple manage to launch a new and innovative product that causes thousands of people to flock to the store. But usually, the only difference is camera quality or the addition of a few new features. While many tech fiends will purchase these products, people with quiet wealth don't waste their money.
It might be nice to get a new phone, but it isn't a necessity. For most wealthy people, they're looking for long-lasting products that they can keep until the last possible second. For them, it doesn't make sense to switch up or upgrade a phone unless they absolutely need to.
This might be wise, as according to a 2018 survey by Charles Schwab, 64% of people regret purchasing items for short-term pleasures such as clothing and gadgets. As tempting as it may be, people who are quiet in their wealth continue to use the same phone they've had for five years straight.
6. Excessive subscription services
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If there's one thing people with quiet wealth never waste money on, it's excessive subscription services. From Netflix to Hulu to Spotify, too many people waste hundreds of dollars a year on subscription services that they barely use. In the moment, it might seem like they're saving money since most have been taught that streaming services are cheaper than cable. However, that couldn't be further from the truth when adding everything up.
According to research from Bango, "the average American subscriber now pays a stellar $924 per year for subscriptions ($77 per month). A quarter (25%) pay $100 per month, while 1 in 20 pay over $200 per month — that's more than $2,400 a year." Considering how many cable services include things such as a discount on the Internet, people who buy subscription services might be losing out.
Fortunately, people with quiet wealth know this, which is why they don't bother subscribing excessively; instead, they strategically figure out the best ways to save money.
7. Trendy home decorations
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When people watch TikTok or go on Facebook, they might stumble across a new sofa or hack they should try to spice up their home decor. It might seem like something everyone does, as people like Kim Kardashian are always changing their decor, but one of the many things people with quiet wealth never waste money on is trendy furnishings.
If a normal person were to enter the house of a quiet wealthy individual, they'd never guess they were rich in the first place. Old sofas, plain decorations, and well-used plant pots might not scream ultra-wealthy for common folk, but quietly rich people, how great their house looks is far from their concern. As long as it's well furnished and looks presentable, they don't care if they have or don't have furniture that's blowing up on social media.
Wealthy people might not realize, however, that changing up their environment is actually a good thing. According to a 2020 study, people feel happier when they have variety in their daily routine. Regardless, these people will continue to stick to the basics, which is also okay.
8. Flashy, expensive jewelry
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Many people might find it hard to believe that wealthy people don't spend big on flashy jewelry, as a huge symbol of wealth is expensive trinkets like this. But most wealthy people can't justify spending thousands of dollars on a Rolex that works the same as an old watch they bought for a few hundred dollars.
If wealthy people were to spend money on jewelry, they almost always buy unassuming brands that normal people wouldn't know the name of. Not only does it keep people from bothering them, it also ensures that the high-end jewelry they get is from well-made brands, not just the well-known ones.
9. Ordering takeout
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After a long day of work, the last thing people want to do is come home and cook. There's always the option of ordering in, but delivery fees are sky-high and people need to pick their battles wisely. Do they spend $20 on a McDonald's meal, or do they use what they have at home to make a meal?
Many people would much rather order out and, according to a 2023 study from U.S. Foods, the average person orders out 4.5 times per month, with 75% of respondents claiming that convenience plays a huge factor. Despite how convenient it may be, quietly rich people don't waste their money ordering food and opt instead to cook.
In order to maintain their wealth, they cut costs with the most favorable outcome, which is probably why they rarely order out or spend money on dinner outside the home. According to a survey conducted by OnePoll on behalf of Habit Burger, Americans spend $2,500 per year eating out! While people might find wealthy people to be cheap, that amount of money they save could certainly be used elsewhere.
10. Lottery tickets
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According to Jonathan D. Cohen, author of "For a Dollar and a Dream: State Lotteries in Modern America," 50% of Americans buy a lottery ticket once per year. However, Cohen continued, "1 in 8 Americans buys a lottery ticket at least once a week. And from that group, you know, 20 to 30% of total lottery players account for as much as 70 to 80% of total lottery sales."
While buying lottery tickets seems like a low stakes form of entertainment, Americans spent a whopping $113.3 billion in 2024 on lottery tickets. Yet, despite the popularity, most people will never catch a wealthy person doing this, as they see it as a waste of time and money. That being said, if it makes people excited to spend two dollars on a lottery ticket, by all means, do so.
11. Over-the-top events
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One of the more surprising things people with quiet wealth never waste money on is lavish, over-the-top events. People may think quietly rich individuals throw parties with expensive drinks, food dipped in gold, and sparkling chandeliers, but they actually tend to keep it more low-key.
Rather than spending thousands of dollars on decorations, they prefer a small dinner or an event with a small gathering of guests. It doesn't mean they always refuse to spend money on important things like holidays or birthdays, but if it's a casual celebration, they prefer to reserve their money on an experience, rather than things.
Marielisa Reyes is a writer with a bachelor's degree in psychology who covers self-help, relationships, career, family, and astrology topics.
