When you are rich, either by your business or by inheritance or whatever, you have the green and the want to flaunt it. The only fun of having all the money is spending it.
Consumerism has taken a whole different role this time around; Maslow’s hierarchical needs to hold a very insignificant stand in the lives of those addicted to brands and designer labels.
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People today save up and skip meals to buy their favorite designer pair of shoes. That’s the truth of today’s world.
While some haggle, stand in lines, visit the factory outlets, and wait for Boxing Day, the millions of millionaires don’t have to bother about any of it! They have the money to spend, and they won’t think twice before spending on luxuries.
The hard work they put in throughout the year calls for pampering, and well, we can’t deny that. Here are the top 5 things on which the rich spend their money:
1. Fashion Shopping
This is the top spending slot because of its presence in everyday life. Clothing and accessories are essential for businessmen/women to look polished and up for all jobs. Not only this, they take special care about dressing for the occasion.
For them, every event, be it a backyard barbeque or a black-tie event, calls for new clothes that fit the occasion. While most of us would wear the same dress to the park or the grocery store, they make sure they are in trend.
Also to be noticed is that they keenly follow the fashion seasons, unlike normal regular folks, who wear the same outfits throughout the year. One more reason for increased spending in fashion is that they most likely are travelers, and when you travel, you need to make sure you have clothing that adjusts to the various cities on the itinerary.
Men and women tend to spend almost the same amount of money on fashion, even though we may believe that the latter do more of it.
Yes! The long hours and increased stress resulted in the need for vacations. These usually aren’t long weeks off, but most weekends are away from the workplace. This is why they become an expensive pursuit.
Many weekends off at exotic places, cost thousands of dollars a night, plus the five-star food and spa treatments make the weekend a relaxing yet expensive one. The rich usually travel with an entourage for whom they have to pay; this is for security reasons and extra help if they have kids that need to be taken care of.
You will know who it is by the car they drive, and their mode of transport is their number one flaunting item. Besides the posh Bugatti, Bentleys, and the like, they also invest in chartered flights and helicopters. May even end up owning one if need be; this makes them show off their riches but serves a greater, more crucial timesaving purpose.
4. Phones and gizmos
Everyone needs to communicate, and the rich aren’t any different except that their phones are more like jewelry pieces. Studded with diamonds and other precious stones, they carry one of the most expensive phones on the planet.
They may possess a handy Blackberry or iPhone for work purposes, but an overly indulgent phone is the way to go for showing off all the green.
5. Real Estate
This is more like an investment than anything, but rich people buy houses like regular people buy groceries. They purchase and decorate a house and make it a home. Many of them tend to do this, especially when moving forward in a relationship with a new partner.
Instead of having their actual personal space invaded, they tend to buy a house with their love interest in living together. This is also true if the person travels a lot to a particular city. It may be inconvenient to always stay at a hotel when you need to feel relaxed and have a more permanent feeling of residence.
When you want to become rich, you have to learn how to spend like the rich. If you’re going to have all that money you’ve worked so hard for, at the end of the day, if you’re not going to spend it, what’s the point?