Most millionaires aren’t driving Lamborghinis or splurging on $8 lattes every day. In fact, most self-made millionaires got there because they don’t spend like millionaires. They coupon. They track spending. They think twice (or ten times) before clicking “Buy Now.” Let’s be real, there are a lot of myths about millionaires. But one truth that shows up again and again? They’re deliberate with money. These 15 shopping and frugal-living habits can help you build wealth like a millionaire…no private jet required.
1. Buy Quality Once (Instead of Replacing Cheap Junk)
Millionaires think long game. That means buying the $60 pair of shoes that lasts five years instead of the $20 ones that fall apart by next season. Cheap often ends up being expensive when you have to replace it three times.
I used to buy the cheapest sneakers I could find, $25 or less. They looked good for two months, then ripped or lost shape. I finally bought a $90 pair of running shoes, and three years later, they’re still going strong. Turns out, quality absolutely does matters.
Use cost-per-wear or cost-per-use to decide if something’s worth it. For example, a $100 blender you use 300 times is a better buy than a $30 one you replace every six months.
PRO TIP: TIRES, SHOES & MATTRESS
My grandpa had a rule: Never cheap out on things that separate you from the ground: tires, shoes, and your mattress. You use them every day, and if they suck, you feel it. Spend more upfront for quality, and you’ll save your back (and your bank account) later.
This mindset works for anything you rely on daily: sheets, tools, even socks. If it touches your body or keeps you safe, upgrade it. The $15 socks that don’t bunch, tear, or make you curse every time you walk across the floor? Worth it.
2. Avoid Full Price Like It’s a Scam
Full price is for the uninformed. Millionaires know every store has a markdown cycle, coupon window, or hidden discount game. Whether it’s waiting for Prime Day or checking the Target app for Cartwheel offers, they never pay retail.
I once bought a winter coat I had been eyeing for $170, but instead I waited six weeks until then end of winter and watched the price drop to $89. Same coat, less than half the price. That $81 felt like a win.
PRO TIP: TRACK PRICES
Use price tracking tools like Honey, CamelCamelCamel, or simply leave items in your cart for a few days.
Too lazy to use a tool? No problem. Just add the item to your cart or wish list and walk away. Seriously, ghost it. Retailers hate abandonment and many will often come crawling back by emailing you a promo code like, “Hey… still thinking about that air fryer?” (Lookin’ at you, Macy’s, Kohl’s, and Wayfair.)
Bonus move: create a burner email for store accounts and sign up for their newsletter. You’ll often get a 10–20% off code just for breathing.
3. Know When to Walk Away (Even If It’s On Sale)
“It was 70% off!” only matters if you needed it in the first place. Millionaires don’t get wooed by fake urgency. They stick to their plan and walk away when it’s not in the budget.
I once grabbed three throw pillows at Target because they were on clearance for $6 each. I got home and realized I didn’t even like them that much. They sat in a closet for a year before I donated them. Never again.
Train yourself to say, “Would I buy this at full price?” If the answer is no, skip it.
4. Master the Return Game
Millionaires treat store return policies like a challenge to master. Didn’t love it? They return it. Used it once and it didn’t work out? Still returning it. It’s not about being difficult, it’s about getting what you paid for.
I returned a pair of kids’ shoes after my daughter wore them once and they gave her a nasty blister. Target took them back, no questions asked. A $24 refund for a shoe she’d never wear again? Worth the 10-minute errand.
PRO TIP: RETURN HACK
Always keep original packaging for 30 days, and always ask customer service if exceptions can be made, especially at stores like Amazon, Costco, Target, or Nordstrom.
If you’re past the deadline? Don’t give up. Talk to a human. Seriously, just ask. Say it didn’t work out, you were traveling, your dog ate the receipt , whatever fits. Costco, Amazon, Target, and Nordstrom all technically have rules, but they’re also known for making judgment calls when you’re polite and honest.
5. Stock Up at the Right Time, Not Every Time
Millionaires don’t hoard. They strategically stock up when the deal makes sense, so think back-to-school, post-holiday clearance, or end-of-season markdowns.
I never buy wrapping paper before Christmas anymore. January 2nd is my new favorite day to hit Target’s clearance section. Last year, I scored six rolls for under $3 total. I still have two left.
Be sure to set calendar reminders for annual sales like January white sales, July electronics discounts, or October toy rollbacks.
6. Use the “One In, One Out” Rule
Millionaires aren’t minimalists, but they’re not buried under clutter either. For every new item they buy, something old gets donated, sold, or tossed. It’s budget control disguised as tidying up.
My kids knew the rule growing up: If a new toy comes in, an old one goes to the donation pile. It makes them pause and consider what they actually value. And it keeps the playroom from exploding.
Use this rule for impulse-heavy categories like shoes, kitchen gadgets, or kids’ toys.
PRO TIP: KEEP A DONATION BIN
The beauty of the One In One Out rule is that it makes you stop and think. Before you buy something new, ask yourself what you’re actually willing to get rid of to make space. That tiny pause is usually all it takes to realize you don’t need it that badly.
Keep a donation bin somewhere visible like in your closet or garage. If you start noticing the same types of things piling up, like barely-used gadgets or yet another pair of black sneakers, that’s your brain telling you to cool it. Listen to it.
7. Budget Like a Nerd (Even If They Look Chill)
You wouldn’t build a house without a blueprint. Millionaires don’t spend without a budget. Whether it’s a Google Sheet or a budgeting app, they know where every dollar is going.
I started tracking every Target run. (Works for Costco too) Turns out, I was spending over $150 a month on “just a few things” like snacks and cleaning supplies. Now I shop with a list, and I’m saving almost $80 a month.
Give every dollar a job, including the fun stuff. Want a splurge? Budget for it.
8. Know the Difference Between Cost and Value
Millionaires ask, “Will this improve my life long-term?” before buying. A $300 air fryer that saves takeout money is valuable. A $300 designer bag bought on a whim? Probably not.
I once spent $150 on a robotic mop that I use four times a week. It’s paid for itself in time saved and floors that actually sparkle. Zero regrets.
Before buying, ask: Does this save me time, make me money, or solve a real problem?
PRO TIP: VALUE OVER PRICE
Just because something is expensive doesn’t mean it’s a waste of money. And just because something is cheap doesn’t mean it’s a smart buy. The real question is what you’re getting out of it.
Before you hit “add to cart,” ask yourself if it saves you time, makes your life easier, or solves a problem you actually have. If it checks one of those boxes, it might be worth every penny. If not, it’s probably just clutter with a receipt.
9. Avoid Trendy Traps
Trendy = temporary. Millionaires skip the fast fashion, seasonal décor overload, and hyped-up TikTok buys. They’d rather be timeless than trendy.
I once bought a viral kitchen gadget everyone was raving about. Used it once, hated it, and it sat in the drawer until I finally gave it away. Lesson learned: trends don’t always translate to value.
If you really want the trendy thing, wait 30 days. Still want it? It might be worth it.
10. They Wait Before They Buy
Impulse is a budget killer. Millionaires apply the 24-hour (or 48-hour) rule to most purchases. If it’s not urgent, it waits.
I kept a $200 countertop oven in my Amazon cart for a month. By the time I revisited it, the price had dropped to $140, and I had a $20 gift card. Waiting saved me $80. And I still use it weekly.
Add items to a wishlist instead of a cart. Revisit later and see if the urge is gone.
11. Treat Every Store Like It’s Negotiable
Millionaires ask for discounts. They price match. They ask for open-box deals or floor model markdowns. They know stores want the sale more than they want to lose a customer.
My husband asked for a discount at Lowe’s on a scratched patio set. They knocked off 20% without blinking. That scratch? Still barely visible. The savings? Very real.
Always ask, “Is this the best price you can offer?” Worst case: they say no.
PRO TIP: ALWAYS ASK
You don’t need to be pushy to save money. Just get comfortable asking simple questions like, “Is this the best price you can offer?” You’d be surprised how often the answer is yes.
This works at big-box stores, local shops, and even online chat support. Look for scratches, missing packaging, or last-one-left floor models. If there’s a flaw, there’s usually a discount. And if there’s not? You’re no worse off than before you asked.
12. Shop With a List—And Actually Stick to It
Millionaires don’t browse. They shop with intention. The list isn’t optional, it’s the mission.
I bring a sticky note list to Costco. If it’s not on the note, it doesn’t go in the cart. I once saved over $100 skipping the extras I “thought” I might need.
Don’t even enter an aisle that doesn’t contain something on your list.
13. Know Loyalty Pays (Sometimes Literally)
They’re not loyal to brands—they’re loyal to savings. Millionaires use loyalty programs, credit card points, and rebate apps to maximize every purchase.
I bought my daughter’s entire back-to-school wardrobe using a combination of Old Navy Super Cash, Rakuten cashback, and a rewards card. What should’ve been $230? I paid $97.
Stack rewards. Use a store loyalty card, a cashback credit card, and a rebate app like Rakuten or Ibotta on the same purchase.
14. DIY What They Can (But Don’t Waste Time)
Millionaires aren’t above DIYing, they’re just smart about it. If it saves money and makes sense time-wise, they’re in. Otherwise? They outsource.
I make my own cleaning spray using vinegar and essential oils. It’s pennies to make and lasts for months. But I gladly pay the guy to power wash the driveway.
DIY birthdays, cleaning supplies, or minor home fixes. Outsource stress-inducing projects you’ll procrastinate on forever.
PRO TIP: BE A SELECTIVE DIYER
Doing it yourself can save a ton, but only if it doesn’t cost you more in stress and time. The trick is knowing what’s worth the effort and what’s better left to someone else.
Make your own cleaning spray or wrap your own birthday gifts. Tackle the little things that add up. But if something’s going to sit half-finished in your garage for six months, hire it out and move on.
15. Celebrate Wins Without Wrecking the Budget
You hit a savings goal? Celebrate.
But millionaires know rewards don’t have to be expensive. A bottle of Trader Joe’s wine, a clearance candle, or just a night in without dishes can feel just as fancy.
Last time I hit a savings milestone, I treated myself to a movie matinee and a slice of cheesecake. Cost me $13. Felt like a million bucks.
Make a list of budget-friendly rewards so you don’t default to expensive habits when it’s time to treat yourself.
Final Word: You don’t have to earn millions to act like a millionaire. You just have to think like one. Pick one or two of these habits and start now. Millionaire status? Optional. But smarter spending, less stress, and a growing bank balance? Guaranteed.
By Kyle James
I started Rather-Be-Shopping.com in 2000 and have become a consumer expert and advocate writing about out-of-the-box ways to save at stores like Amazon, Walmart, Target and Costco to name a few. I’ve been featured on FOX News, Good Morning America, and the NY Times talking about my savings tips. (Learn more)