Here’s a look into the unexpected luxuries that many millionaires, despite their ample resources, simply refuse to buy. From overhyped fashion to the latest tech, these items don’t pass the value test for those who know how to manage their fortunes wisely.
1. Ultra-Trendy Designer Bags
While many millionaires own luxury bags, they steer clear of the ultra-trendy ones that have a shelf life of a season. Instead of splurging on the latest “it” bag, they go for classic, timeless options that don’t lose their charm—or their value—after a few months. A Chanel flap in classic black, for example, has a much stronger staying power.
2. The Newest Smartphone Every Year
Sure, they could buy the latest iPhone or Android model without batting an eye, but millionaires often opt to keep their devices until they genuinely need an upgrade. This approach not only avoids waste but also reflects a mindset of utility over flash. Instead of rushing to keep up with incremental improvements, they invest in quality tech accessories and security.
3. Fast Fashion
Despite the affordability of fast fashion, wealthy individuals are more likely to invest in quality, sustainable pieces that stand the test of time. Millionaires typically avoid low-cost, short-lived trends in favor of brands that emphasize craftsmanship and classic design. This approach not only reflects a more refined taste but also supports ethical and sustainable practices.
4. Outlandishly Expensive Wines
Although wine can be a beautiful indulgence, millionaires often skip the wildly overpriced bottles that are more about showing off than savoring. Instead, they’re more inclined to invest in select vintages they personally enjoy, often from smaller, lesser-known vineyards. A truly tasteful choice, after all, isn’t dictated by a price tag.
5. Private Jets for Short Trips
Private jets may scream luxury, but many millionaires prefer to save this indulgence for long-haul flights or crucial business needs. For shorter trips, they opt for first-class commercial flights or well-appointed private cars, valuing convenience over the ostentatious cost. This choice isn’t about scrimping—it’s about seeing value in practicality.
6. Overpriced Home Gym Equipment
Though fitness is a priority, millionaires won’t throw their money at flashy, overpriced gym equipment. They value functionality, often preferring quality basics over the latest home gym gadgets. High-ticket items like treadmills or smart weights must justify their worth with quality and durability, not just a hefty price tag and built-in screens.
7. Gadgets That Lack Real Function
With the allure of endless tech innovation, it’s easy to get swept up by the next big gadget, but millionaires are typically immune to the temptation. If a gadget lacks real functionality or doesn’t integrate into their lifestyle seamlessly, they’ll pass. Their tech buys are more about efficiency and streamlined living than being gadget-centric.
8. In-Season Designer Clothes
Instead of purchasing in-season designer pieces at full price, many wealthy individuals wait for end-of-season sales or prefer custom-made pieces that reflect personal style over seasonal trends. Their wardrobes often focus on neutral, timeless pieces that never go out of style, investing in clothing that has longevity rather than a one-season lifespan.
9. Massive Luxury Homes They Don’t Actually Need
While millionaires could afford sprawling estates, many stick to homes that are beautiful, comfortable, and practical rather than excessive. Maintaining vast unused space can feel more burdensome than enjoyable, which is why many prefer manageable, well-designed homes that reflect their style without going overboard.
10. Expensive Seasonal Décor
Expensive seasonal décor might seem festive, but many millionaires see it as wasteful. Rather than splurging on elaborate seasonal items, they invest in timeless, high-quality home pieces that look fabulous year-round. A few small touches can change for the holidays, but the base decor is elegant and built to last without needing an annual overhaul.
11. New Cars Every Year
While they might buy luxury vehicles, millionaires don’t necessarily feel compelled to trade them in every year. Instead, they look for cars with longevity, focusing on maintaining high-performance models that they genuinely love rather than trading up annually. Quality, functionality, and craftsmanship are often prioritized over showing off the latest model.
12. Diamond-Encrusted Everything
Diamonds might be forever, but diamond-encrusted gadgets or everyday items are not high on the wishlist. Wealthy individuals prefer to buy statement jewelry pieces that hold meaning and value, rather than splurging on overly extravagant items like diamond-encrusted watches or phone cases that serve no purpose beyond status.
13. Personal Trainers on Retainer
Fitness is key for many millionaires, but they don’t necessarily have a trainer at their beck and call. Many choose flexibility, booking trainers only when they need guidance or motivation, rather than employing a full-time professional. This approach keeps fitness tailored to their needs without overcommitting resources on an indulgence they may not always utilize.
14. Ultra-Luxe Kitchen Gadgets
A kitchen filled with flashy appliances might seem appealing, but millionaires often skip ultra-luxurious kitchen gadgets in favor of quality basics that last. Instead of owning every single high-end gadget, they opt for a few quality tools that serve multiple functions. From a well-crafted chef’s knife to a durable stand mixer, their kitchens are curated for practicality and enjoyment.
15. Expensive Art That Doesn’t Speak to Them
Art collecting is common among millionaires, but they’re unlikely to buy a piece simply because it’s expensive. Instead, they choose art that resonates with them personally. Art is about investment and enjoyment, not about flaunting wealth. Many favor pieces with meaning and value that enhance their surroundings in an authentic, personal way.