smart spending

Money-saving secrets of the rich and frugal

The wealthy love bargains
The wealthy love bargains © Amy Walters/Shutterstock.com

The wealthy love bargains

This may surprise you: Like most of us, wealthy people are all about getting the most bang for their buck.

"There's just sort of a worry that they're going to overpay for things," Flurry says.

Among those with annual household incomes of $75,000 or more, 74 percent use coupons at least some of the time when shopping online, according to a 2013 survey by PromotionalCodes.com. The consumer savings website also found that a third of people in that group always or often use coupons during online shopping.

The wealthy can exploit other opportunities for saving money because they have more of it to stretch, says Bradley. A rich person can, for example, take greater advantage of a liquidation sale at a high-end clothing store.

"Just because (a store) is going out of business doesn't mean that I have any more money to spend on clothes that month," she says, "but if you're wealthy you can take advantage of that."

advertisement

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 4.06%  0.10 4.16%
15 year fixed refi 3.17%  0.03 3.20%
10 year fixed refi 3.23%  0.02 3.25%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.30%  0.04 4.26%
50K FICO-based HELOC 3.97%  0.02 3.95%
100K FICO-based HELOC 3.81%  0.02 3.79%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.75%  0.10 2.85%
48 month used car loan 2.99%  0.07 3.06%
60 month new car loan 3.20%  0.05 3.25%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99%  0.01 0.98%
2 Year CD 1.22%  0.02 1.20%
5 Year CD 1.87%  0.04 1.83%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.76%  0.01 15.77%
Cash Back Cards 16.44%  0.02 16.46%
Low Interest Cards 11.04% --0.00 11.04%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us