Rich people don’t accumulate wealth by spending their money carelessly. Some wealthy people are self-made and used to thrifty living, while others just prefer to spend less and save more.
Either way, there are certain things successful people simply don’t pay full price for.
Here are some of the top things that rich people and celebrities avoid spending their money on.
The rich know that everything in life is negotiable. Every service, every commodity, even many physical products. And the trick to negotiation is finding other things the selling party wants, besides money.
A savvy buyer might show up on the last day of the month and say ‘I’m buying a car today. I might buy an BMW or I might buy a Proton, but I’m not willing to pay anywhere near full price. What is the absolute lowest price you can offer me on these models?
It’s not just successful people who don’t have to pay full price for cars — the rest of us can cash in on this strategy, too. If you’re in the market for a new car, its recommended collecting internet quotes on the models you are interested in, researching the wholesale prices and being willing to walk away if the salesperson won’t give you the deal you desire. There are many competitive offers online that you could get together with man free gifts too.
2. Retail Goods
Wealthy people might enjoy perusing the aisles of popular luxury retailers, but the truth is that they rarely spend money there. Bargain retail chains aren’t just popular among successful people — celebrities love these stores, too. They even leverage into discounts coupons to purchase their stuffs.
These days, you don’t need to grab a flyer at the grocery store or snag your neighbor’s mailers — you can easily score incredible coupons online. Discounts on everything from clothing and electronics to diapers and makeup are available at the click of your finger.
The richer you are, the less you pay for certain luxuries — including travel. According to a survey by Fidelity, 55 percent of credit card holders have rewards credit cards. While cash back was the most popular reward, free travel also ranked high on the list.
Successful people use their spending power to score everything from free flights to first-class upgrades and access to premier boarding rooms. And when you have a lot of money, you can easily put more on a credit card — and pay it off — to rack up as many points as possible.
However, there are ways you can score a luxury travel experience at a discount, even if you aren’t wealthy. For example, there are many travel rewards credit cards out there for regular consumers and, with a little strategizing, you can score free airline tickets, hotel rooms, rental cars or first-class upgrades.
4. Real Estate
While the average person pays about a 5 percent commission fee to a real estate agent, successful people tend to pay much less — especially when selling their homes.
Successful people never pay a 5 percent commission. They always negotiate when they are selling a home.
This strategy is particularly beneficial if you’re selling a home that’s worth millions. For example, a $2 million home could net a real estate agent a $100,000 paycheck if he or she takes the standard 5 percent fee. Negotiating the rate down by half saves the owner $60,000, and the agent still walks away with a fat paycheck.
Even if you aren’t in the market for a multimillion-dollar home, you can still negotiate your way to a better price.
You should also ask the seller to pay all the closing costs and set a closing date that works best for you. Best-case scenario, the seller accepts. Worst-case scenario (as long as you haven’t offended him or her), the seller counters.
5. Higher Education
Many private colleges slash prices for families that are rich enough to afford full tuition. Known as merit aid, this discount is used to lure academic all-stars to the school or make sure the institution enrolls enough wealthy students to meet financial targets.
Among the dozens of elite private schools that provide financial aid unrelated to athletics or need such as scholarships, MARA, PTPTN and many more which offers loans at a very low interest rates. Lower than the bank FDs. So, it’s more profitable then you take the loans than paying it your self. For example; you are taking a $50,000 loan from PTPTN at 2% annual interest. By putting in $50,000 at the bank at 3% annual interest, you are basically earning 1% interest a year.
While the rich are thinking of ways to save more with these small savings, many of the low and middle class will think this amount is too small to be saved. What is you could save a little by little each day for 10-20 years? These amount might be enough for your to buy a house cash!