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Expert Opinion

Top 20 Money-Saving Tips From the Super Rich In 2023

Read this blog to understand how rich people think about money. Find out 20 useful money-saving tips that the super-rich use to create wealth.
October 17, 2023

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We all want to know how to be a millionaire and how the world’s super-rich manage their money, but the wealthiest people on the planet aren’t exactly sitting around for us to go ask for saving tips.

That’s why this post is dedicated to curating the best money management and money-saving tips out there. So, get ready to understand how rich people think about money!

You may find it surprising but Warren Buffet who is one of the wealthiest people on the planet has been known to use coupons to buy McDonald's food. There are similar stories about how celebrities & super-rich people resort to penny-wise methods to save money.

So, does this mean the secret to wealth is being super stingy? Well, the answer is yes and no! 

What these money-saving habits of rich people reveal is their mindset - just because you have money doesn’t mean you’ll spend it on things that can be bought for cheaper.

While there are many people who are penny-wise and pound-foolish, the rich it seems are penny wise and pound wiser.

If you want to save money and just be better with money management on a whole, this post will touch upon most if not all of the things you need to do. So, are you ready for the kind of money-saving tips that will make your wealth manager jealous of you?

Ready or not, here are the top 20 money-saving tips that the world’s richest people follow:

1. Save Most Of Your Income

One of the biggest secrets of the super-rich is simply their ability to save money. Rich people don't just think differently but also act differently. Many a time saving up to 70% of their income at a young age.

If you've ever wondered how to be a millionaire then this is perhaps the very first steps. Save most of what you earn!

2. Pay Using Cash

Paying for things using cash is one of the best money-saving tips. It is something you will read whenever you talk about managing your money.

Spending cash is harder than spending using a credit card for spending digital money. Therefore paying in cash is always a better idea.

3. Eliminate Debt

If you want to get rich you have to ensure interest is working for you and not against you. Pay off your debt and ensure that you don't have any unnecessary credit card expenses or loans.

Live below your means until you have more than enough to afford luxuries.

4. Don’t Waste Anything

One quirky habit of rich people is their frugality. Rich people manage money by using things to their full potential. Which is why you shouldn't waste anything.

Whether it's your toothpaste, food, clothes or something else - ensure you buy only what you need and never throw things away without getting good returns on your investment.

5. Invest In Mutual Funds

We all know a good way to get rich is to invest in the stock market. However, if you don't want to take big risks, mutual funds are a really good way to get rich.

Most rich people invest in Mutual Funds through both the LumpSum and SIP route. Try investing in Mutual Funds using the Cube Wealth App

6. Get Deal Savvy

Find great deals! Don't buy anything at MRP. There is always a better price out there, especially if you ask around. So always ask for a better deal, trade favours, use coupons and find yourself the best deal possible. You can consult a Cube Wealth coach or download a Cube Wealth App

Getting a good deal on your regular expenses can save you big money almost immediately. It's the only get rich quick method that works!

7. Don’t Be Ashamed Of Bargaining

Rich people didn't get rich by spending their money mindlessly. One habit rich people have is that they aren't ashamed of bargaining where it matters. Whether you are buying a house, a car or simply picking furniture from a store - always bargain.

You will often be able to knock off 10% - 15% from the price of the product by simply asking.

8. Live Below Your Means

We did mention this briefly earlier but it needs it’s own section as well. To be a millionaire you have to often live way below your means. Take cabs instead of driving, use public transportation and often cook at home instead of eating out.

Such discretionary choices can reduce your expense by 15% - 20% depending on how much you spend at the moment.

9. Buy Daily Need Products In Bulk

One thing we can all do to save money is to spend smartly on regular expenses. Daily home essentials like soap, shampoo, deodorant etc can cost us a lot.

If you buy these things in bulk-online on sites like Amazon during a sale - you'll save a lot of money every month.

10. Don’t Waste Money On Showing Off

One good habit rich people have is that they don't show off. Young money can be seen from a distance because it is loud and wants to show off. The truly wealthy however are deceptively low key.

They dress normally and drive around in comfortable but inconspicuous cars. Warren Buffett, Bill Gates, Jeff Bezos are all good examples of this.

11. Avoid Unnecessary Luxuries

Contrary to what you'd think most rich people avoid unnecessary luxuries. They will happily fly economy class for short distances and take a regular Uber instead of an Uber Black.

This doesn't mean they don't indulge when they want to just that most rich people know when it's worth paying for the comfort and when it's more vanity than real value for money.

12. Consult A Wealth Coach

All things said and done an expert is an expert. Which is why you should talk to a professional wealth advisor. If you're worried about the expense here's some good news for you:

You can consult a Cube Wealth Coach for free by clicking here. You'll get honest investment advice and guidance at every step of the way.

13. Own Fewer Things

Think rich, think less is more. Confused? Don't be. One of the secrets of rich people is that they don't own a lot of useless things. Instead, they own fewer things that they really love.

For example: Instead of buying 10 luxury sedans a smart rich person will choose to buy an SUV for a road trip, a reasonable sedan for daily use and maybe a sports car for the weekend.

If you're a regular Joe this means buying one good phone instead of having an iPhone, an iPad, a MacBook and a Desktop. Just buy what you need and cut out the excess.

14. Spend On Experiences

How rich people think is, of course, different from most of us. They don't waste money on things as we've discussed. Instead, they spend on experiences. Whether it's bungee jumping, river rafting, kitesurfing or something else, rich people buy experiences. You can consult a Cube Wealth coach or download a Cube Wealth App

The memories are worth more than buying the new hot gadget. So, try spending money on experiences instead of things.

15. Exercise & Stay Healthy

Managing money isn't easy when you're unwell and are spending endlessly on doctor's visits and medicines. In fact, if you exercise regularly and stay healthy you'll save anywhere between 15% - 30% in the long run.

This obviously is no surprise as medical advice and support are expensive. So if an apple a day keeps the doctor away, then a rich person would rather buy an apple orchard than pay a doctor to prescribe paracetamol.

16. Have A Fixed Budget

One sure shot sign of a rich person is that they have a budget and stick to it. Our tendency is to spend money on instant gratification rather than delayed success. This is why it's important to have a budget and stick to it like glue. If you want to be rich make sure you set a realistic budget and stick to it.

17. Eat At Home

Cooking food at home is another effective way of managing your money. A meal made at home costs one-third of what it does at a restaurant. Moreover, you can be sure that the ingredients are fresh and healthy. So, avoid eating junk food and stick to healthy home food when you can. It's good for both your health and your pocket.

18. Travel Smart

Going for a vacation? Great! Try walking around town instead of taking a cab everywhere. Discover the city better and save a few bucks while you're at it. And if you're not planning to stay indoors too much don't book yourself a luxurious room.

Get the full value from your hotel, pick a package that covers your breakfast and see if you can get a free airport pick up and drop. Travel smart by cutting down unnecessary costs. A comfortable vacation doesn't have to cost a bomb. Do a little research, book in advance and opt for the smarter option wherever possible. 

19. Try the 50/20/30 Rule

What's the 50-20-30 rule? Well, it simply says that you must allocate 50% of your income after taxes on needs, 30% on your wants and 20% to savings. The rule comes from Senator Elizabeth Warren who came up with the 50-20-30 budget rule in her book titled “All Your Worth: The Ultimate Lifetime Money Plan."

20. Practice Financial Hygiene

Practising financial hygiene is crucial. Rich people manage money well thanks to good financial habits. So, just like you brush your teeth every day you must take stock of your budget, savings, investments and expenses on a monthly if not weekly basis.


1. Are these tips only for the super-rich? 

Ans. While some tips may be tailored to high-net-worth individuals, many of the principles can be applied by anyone looking to save money and improve their financial situation.

2. What are some common themes among these money-saving tips? 

Ans. Common themes often include living within your means, investing wisely, diversifying your portfolio, minimizing debt, and budgeting effectively.

3. Can these tips really help me save money? 

Ans. Yes, these tips can help you save money and build wealth over time when applied effectively. However, individual financial circumstances may vary, so it's essential to adapt these tips to your specific situation.

4. Are these tips based on specific financial instruments or strategies? 

Ans. These tips often encompass various financial strategies, including smart investing, tax optimization, and diversification. They are based on a combination of financial principles that have proven effective for wealth preservation.


The top 20 money-saving tips from the super-rich in 2023 serve as a valuable guide for individuals looking to enhance their financial well-being and secure their financial future. These insights, often rooted in prudent financial management, effective investment strategies, and risk mitigation, provide a blueprint for building and preserving wealth. You can consult a Cube Wealth coach or download a Cube Wealth App

These are the top 20 best money saving tips & tricks that we've curated for you. If you have more tips to add to this list or are already doing some things on this list, please drop us a comment below.

Rishabh P Nair
Rishabh P Nair is the Head Of Brand Content at Cube Wealth, the Financial Freedom App with a smart Perfect Portfolio Planner. Rishabh has been weaving stories for over 10 years and prides himself on building brands with a strong identity.

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