What is a lifestyle habit the rich and poor share surprisingly?

What is a lifestyle habit the rich and poor share surprisingly?

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  1. My income is currently about 15% of what it was for many years. I’m still doing okay, and my current expenses are also a fraction of what they once were. But the biggest adjustment has been my use of credit. When money was rolling in, I had no fear of debt, and used it extensively. That puts everything you want to do or have within reach. I could take an impulsive trip to another continent if I wanted to. Not because my wallet was full of money, but because there was no fear of putting $10K on a credit card. Now I’m nothing like that. I’ve learned how hard those debts are to pay down if you don’t have good cash flow. Credit is now for extreme emergencies only. I still have everything I need, but I can no longer have everything I want.

  2. Lot of people here seem awfully eager to make sure to humanize the rich. But if you want one of the most honest answers dying is something that the rich and poor do the same. For now at least.

  3. I don’t get this. Not all rich people are hedonists anyway. Poor people don’t always have the same lifestyles, so do the rich ones. There are many rich people who are simple and modest.

  4. They live within their means and don’t buy on credit. The book The Millionaire Next Door dives into it more, but some of the statistics are surprising.

    For example, the vehicle most millionaires drive is not a BMW or a Mercedess Benz but a Ford F-150. They don’t drink Dom Periogn or eat caviar. They drink Jack Daniels and eat hot dogs.

  5. Use of smartphones and media (TV or streaming).

    This was true even before smartphones: Having a TV was still an important part of life. What differed was the size and type.

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