Living ‘Regular Rich’ in the US: 3 Reasons Millionaires Aren’t Overspending
Written by
Chris Adam
Edited by
T. Woods
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When we think of the rich, most of us probably picture celebrities or the extremely wealthy who live in exclusive neighborhoods and have material goods beyond our reach.
Sure, those wealthy individuals and families exist in the United States. But have you ever thought about your neighbors — and if any of them are the so-called “regular rich?”
What exactly does that term even mean? According to the Seattle Times, you can think of the “regular rich” as people who aren’t celebrities or the extremely wealthy, but instead go about their daily lives as just another neighbor with modest houses and material goods.
According to Henley & Partners, a U.K. wealth firm, Seattle is one of the wealthiest cities in the U.S. It now has more than 54,000 millionaires, 130 “centimillionaires” and 11 billionaires.
So how do these “regular rich” among us keep their wealth? Here are reasons they do it by not overspending.
1. Avoid Temptation
Let’s start with this — they probably don’t keep money just scattered around the house or even sitting in the bank. Instead, one way to avoid overspending is to take most of that money and keep it in bank accounts or investments that help it grow without having it quickly available to avoid the temptation to buy lots of things.
2. Stay Focused
The “regular rich” are good at keeping their focus. Instead of spending lavishly on lots of material goods, they focus on purchases that are necessary and investing in things and trips that will bring them joy.
3. Seek Deals
Have you heard about celebrities or big names who use coupons and look for deals? That’s right – just because someone is rich doesn’t mean they don’t look for ways to make their money go further. It’s a good way for millionaires to avoid overspending – and a good plan for all of us to better manage our money.
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