This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
A whopping 61% of wealthy people don’t drive luxury vehicles
It’s never a happy thing to see an eviction notice on someone’s door (you don’t have to walk up to someone’s door to see it either).
The most recent family I saw get evicted drove luxury vehicles, enjoyed high-priced shopping excursions, and lived an outwardly “luxurious” life.
Their life would appear attractive to many, which is why I was shocked about their eviction. I thought they were “doing it” and were one of those families that lived within their means but still enjoyed the luxury side of life.
Why do any of us ever experience shock when a supposed “rich” or “wealthy” person/family loses their home, goes bankrupt, or gets their car(s) repossessed?
Many still believe outward things equate money and resources in the bank when, in reality, most of their resources are going towards financing their attractive life.
61% of The Wealthy Don’t Drive Luxury
Around 61% of the wealthy don’t drive a luxury vehicle and live modestly because they realize they don’t need or have little desire for the superfluous.
“While some wealthy Americans drive luxury vehicles, an Experian Automotive study found that a whopping 61% of wealthy people with household incomes of more than $250,000 don’t drive luxury brands. Instead, they drive less showy cars, such as Hondas, Toyotas and Fords, Ramsey says.”
If you’ve read any of my personal finance articles, you know a few things you should always do with your money.
Let me lay it out for you:
Live below your means.
Invest and save aggressively.
Avoid lifestyle inflation if it doesn’t fit your budget.
Buy a car after you:
Pay off your current car.
Can buy a new car with CASH money.
Are without a car note for several years, so you can focus on saving.
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The most important rule of all is to live below your means. If you live below your means, you’ll win every single damn time at the game of money – it’s impossible to fail.
You will consistently build an excess of resources when you live below your means, and if you invest it right, THAT EXCESS will create a fortune for you.
Live Aggressively, But Stay Under
I actually don’t like budgets. I believe in creating a financial environment that offers a surplus so you’re always in the black.
There are three primary things I prioritize financially outside of investing:
Food
Travel
Experiences
Notice there are only three things listed there.
The family evicted from their home prioritized luxury living, shopping, rides, and everything else under the sun.
When you prioritize everything, you run the risk of running out of money because many people don’t have enough money to support their liberal spending habits.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.