illionaires are often the greatest people at saving and making money which means there are certain things they love to pay for, and certain things they just hate to pay for. Here we look at 5 of the latter.
Millionaires clearly have a lot of things they love to pay for, otherwise, where's the fun in being so rich? However, they also clearly have lots of things they just hate to pay for, for a variety of interesting reasons. Here we look at 5 things millionaires absolutely hate to pay for, and we explore the reasons they dislike those particular expenses so much:
It sound so simple, but it is absolutely true. Sure, this doesn't count for many things like food (obviously!) or items that aren't much fun second hand, but for many things, there is certainly a lot of money to be saved and made in second hand items. Take classic cars for example, their prices have been steadily going up for a while, in fact, according to an article by This Is Money published last year, classic car values for certain makes and models increased by over 250% between 2005 and 2013. As long as you know how to buy the genuine article, you're onto a real winner. By purchasing items that are just as good second hand, and by buying second hand items that will increase in value over time, millionaires save and make money.
Rich people watch where their money is going, and that includes ensuring they don't see hard earned cash going on fees, interest and charges that are avoidable. A millionaire is unlikely to pay a bill late or carry any cards likely to incur charges, or take out a loan unless absolutely necessary because they are so good at making and saving money, so naturally they won't want to waste any.
Things they can't afford
This sounds silly, considering how much money a millionaire has, after all, what can't he or she afford? However, it certainly is a truth any millionaire lives by, or at least any self made millionaire. Never spend more than you earn is a solid truth to stick to if you want to achieve financial success. Millionaires who are self made got to where they are by being frugal and paying off debt or saving before spending any money on themselves or their lives. Millionaires are fabulous at making money, not necessarily spending it. Buying lots of impulsive, unnecessary items without keeping one eye on the books is a big mistake you'll never see a successful millionaire making.
Anything Following A Huge Change In Financial Status
Certain things will affect financial status, including divorce, business growth or losses, marriage and economic instability. A millionaire is smart enough to know that any new money coming in needs to be invested, and if money is going out, any spending should be paused until a secure status is reached, or until the true implications are known.
The Cheapest Item
Rich people are phenomenal at seeing the worth of something over time. The best value is always sought out, over cheapest price today. The best price is sought as well, but it is the long term value that is the priority, which might mean paying more now in order to make more later down the line.
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