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Rich people love to spend money – duh!

But not necessarily on the things that you might think.  It’s easy to imagine what you’d spend your riches on if money was no object – Louis Vitton handbags, luxury holidays and meals out every night at only the worlds top rated restaurants. 

But in truth, rich people spend their money on much smarter things than this – whilst they of course treat themselves to luxuries from time to time – wealthy people tend to think much more long term, and look for ways that they can sustain the family fortune for many generations to come.  

As an average Joe, with an average salary, it’s interesting to learn what the world’s wealthiest population really spend their money on.  If we can replicate their behaviour, we’ll be able to grow and manage our money much better, and be in a more fortunate financial situation later in life.

So I have done some research, and looked into what the wealthiest percentage of the population really spend on.

I’ve put this list together for you to read, so that together we can rethink some of our spending choices, and consciously make better decisions with our money going forward. 

9 Things Rich People Spend Money On


It’s no secret that property is one of the most financially rewarding investments that any person can make.  There are many ways to make money buying and selling property:

  • Flipping – buying below market value, renovating the space and reselling for a profit.
  • Buy to let – buying properties to let out to tenants, the idea is to take more in rental payments than the cost of your mortgage, therefore generating you a stable monthly income.
  • Investment properties – buying properties in an area where the value is believed to go up over time, keeping hold of the property long term and then selling later in life for much more than you bought the property for initially (often investors will rent out the property during the years that they have ownership so they’re making money in two ways at once).


Wealthy people look for ways to make their money work for them.  They want to find ways to make the money they already have make them more money.

Starting businesses is a great way to do this, as you can invest the capital that you already have – large or small – in a business that long term will be able to provide a regular income for you and your family.

Hone the skills you already have, and think about the things that you’re good at.  Whether its art, music, DIY, cooking or caring for others, there is always a way that you can offer the skills you have to others in a way that they would be willing to pay for.  

If you’re really smart, you’ll look for ways to automate and make the business work without you, so that you can pass it onto your family later in life and they have financial support for the rest of their life too!


Learning is the key to ongoing personal growth.  There are always new skills, techniques and methods that you can learn from others who have already achieved the result that you’re working towards.  

Learning about history, finances and other popular topics is also a great way to grow as a person, and the more you learn about these subjects, the more you can apply what you learn to your daily life.


The wealthiest people see that real value lies in making memories and gaining experience, rather than filling their life with materialistic objects.

When you reach your older years, there is no doubt that it’s the days out with the family, holidays, concerts and other experiences that you’ll remember with a smile, rather than any materialistic purchases that you did or didn’t buy in your life.

You could live in the biggest house, drive a Ferrari and own all the latest designer clothing and up to date technology, but it’s spending time with loved ones and making memories that really matters.


Buy cheap, buy twice.

People who have money don’t spend more on clothes, technology and household items because they have the money to do so, but instead because they understand that investing a little more money in a higher quality item means that it’ll last them a lot longer, and they won’t have to repurchase the same item again in a years time.


Financial stability later in life is the key to living out your golden years to the fullest.

Not having to worry about money, having a secure living situation, money to take care of healthcare expenses and some extra to treat the family and take part in activities that you’ve always wanted to explore is one of the things that is most rewarding about retirement. 

Try to start saving for retirement as early as possible.  The power of saving a little bit each month now for your retirement is in compound interest.

Compounding is the effect of earning interest on top of interest. If you put £1,000 into a fund that returns 10% annual interest rate (yeah right – this is just to make the maths easier), then in year two you will be starting with a figure of £1,100. In year two you will earn 10% on £1,100 and so on. 

If you would like to learn more, I cover retirement savings and compound interest in much more detail in this post 6 Things You Should Be Saving For In Your 20’s.


Investments can be any number of things: property, business, stocks, shares, commodities etc.

Rich people want to make their money work for them, and find sources of passive income.  Investing means that you put a sum of money into a project or scheme on a long term basis, in return for interest, dividends, commission or a percentage of that business.  

Long term, this can be very rewarding, as the money you earn back compounds, similar to retirement savings (as above).

There is so much to learn when it comes to investing, whether it be in the stock market, commodities or any other long term investment. If you’re a beginner, there are many products such as Stocks & Shares ISAs which are a great place to get started. 

Stocks & Shares ISAs are available in the UK – please research similar products in your country if you are outside the United Kingdom.

I am not a financial adviser so please do your own research before making any investments as there are risks involved and you could end up with less money than you put in. 


Wealthy people are all about putting foundations in place to be sure that their family will be supported when they’re no longer around.

This doesn’t mean paying for everything that their family wants, but teaching them the value of money, how to invest, how to make money and how to manage their finances. 

Whether it be putting their children through university, investing in businesses that they want to start or anything else that can put them on the path to becoming a financially independent adult, the wealthy are more than happy to put in the financial investment necessary.


Giving back is perhaps one of the most important things that successful people make sure to do. Earning a lot of money and building wealth is even more rewarding when you share your success with others.

Giving back to charities and people in need is far more rewarding than going out and buying new gadgets or clothes. Donations can really change and save lives, so the wealthy understand that it’s their responsibility to take part. 

They also make sure to look after family and friends who have helped them reach success in the first place – most people can’t reach greatness without some support from others, especially in the early days, and the rich know this better than anyone else.

To Finish Off…

I really hope you enjoyed this post and that it’s given you some food for thought for things you could be spending your money on which will return and serve you much better than some of the poor spending habits that you might have made for yourself.

Let me know if you know of any other important things it’s worth spending money on in life, and if you’re lucky enough to be in a comfortable financial position, feel free to share any of the things that you like to spend money on.

Make sure to check back here on a regular basis as I post new financial, lifestyle and fashion content on The Angelina Archives every single week! 

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