`Price is always an issue. Everything revolves around whether you spend the money right or not,` revealed Amy Salinger – personal outfit expert for millionaire clients.
Many rich people don’t really consider themselves rich, according to Tom Corley – author of the book `Rich Habits`.
Even rich people pay great attention to daily spending.
However, you can still spend like the rich and maintain your wealth, even without a 7-figure fortune.
Don’t waste money on housing
Living in a luxury villa is great, until you realize you can’t buy anything else after deducting the monthly installment.
Don’t shop when you need it urgently
Whether it’s a suit for a job interview, or a car to replace a broken one, this type of purchase is your biggest enemy, says Salinger.
Flaunt the right way
Everyone loves shopping, but make it as rewarding for you as possible.
`Never splurge on purple high heels. And buy from a store that has a return policy,` Salinger said.
Compare price and value
When deciding whether an item is worth it or not, you should divide its price by the number of uses, says Salinger.
`With clothes, for example, divide them by the number of times they are worn. An item that is not very expensive, but is rarely worn, may not be a bargain. Meanwhile, an item that is expensive but is used often will have value
Apply the `high-low` method
When buying clothes, mix high-end items with low-priced items.
She often has to go to many stores to choose clothes for customers.
Limit spending on `sinful` items
Rich people always limit their spending on alcohol, cigarettes and gambling.
Besides, only about 13% of rich people got drunk in the past month, compared to 60% of poor people (income less than 35,000 USD a month and less than 5,000 USD in assets).