People with quiet wealth usually avoid these 7 common spending habits

Let’s be honest: not everyone who’s got significant money in the bank wants to let the whole world know. Some folks are content to build their fortunes steadily and under the radar. No fancy sports cars that scream “Look at me,” no mansions with gold-plated doorknobs, and definitely no financial showboating on social media.

I used to think that once you were earning a good income, the first thing on the agenda was living large. Back in my corporate days, I recall rewarding myself with a designer watch that cost more than I’d like to admit.

It felt good for about a week…until I started noticing how much stress I got from worrying about scratches, theft, and—honestly—what people thought about it. It wasn’t the big confidence boost I’d imagined. That taught me a valuable lesson: sometimes, “more” isn’t better.

In fact, most wealthy people I’ve encountered—especially those I’d call “quietly wealthy”—approach their spending in ways that won’t necessarily go viral on social media, but help them maintain and grow their net worth over time. And they do it by steering clear of certain money habits that many of us fall into.

So let’s talk about these habits. Here are seven common spending pitfalls that quietly wealthy individuals typically avoid.

1. They don’t chase brand mania

We’ve all been there, right? Seeing a friend sporting the latest designer bag or smartphone and feeling that tug of envy. “I should get that,” you think. But people who have quietly amassed wealth usually steer clear of brand obsession.

It’s not that they never appreciate quality. The difference is that chasing labels for the sake of labels just isn’t their style. They favor durability and long-term value over the allure of, say, a limited edition sneaker.

Warren Buffett famously said, “If you buy things you do not need, soon you will have to sell things you need.” That pretty much sums up the brand mania trap. Buying a $2,000 handbag won’t make you wealthier. It might make you look wealthy for a minute—until the credit card bill shows up.

One of my friends in Singapore makes an impressive living but dresses in simple, no-logo tees and comfortable pants he’s had for years.

He invests his money in experiences (like travel and time with family) rather than acquiring brand-name stuff. He’s told me more than once that people rarely guess he’s doing so well financially—and he likes it that way.

2. They avoid impulse buying

Ever walk into a store for one thing and walk out with five? I’ve done it more times than I’d like to admit. What started as a quick errand for a pack of gum ended up with me holding two magazines, a fancy pen, and a random new phone charger.

Impulse buying is especially dangerous in our digital age, where you can buy almost anything with a single click. Here at Small Biz Technology, we often talk about how technology makes life more convenient—but it can also make overspending frighteningly easy.

Quietly wealthy people usually have systems in place: they keep lists, they track spending, and they pause before hitting that “buy now” button. If it’s not on the list, they don’t get it—simple as that.

They’re also known for setting cool-off periods: if they see something they want, they’ll wait a few days or a week before buying. By the time that period is up, the initial rush often fades and they realize they might not want it as much as they thought.

This isn’t just anecdotal; there’s research to back it up. A study suggests that cooling-off periods can significantly reduce regrettable purchases and increase our satisfaction with what we do end up buying. It’s all about embracing a more deliberate spending process.

3. They steer clear of unnecessary debt

In my twenties, I fell into the debt trap by getting a top-tier credit card “to build my credit score.” In reality, it just enabled me to rack up more debt with the swipe of a plastic card I could barely pay off. High-interest debt might be one of the most damaging spending habits around.

Charlie Munger, Warren Buffett’s longtime business partner, put it succinctly: “Once you start doing something bad, then it’s easy to do it more.” That’s how consumer debt feels to me—it’s a slippery slope. You put a few things on the card, skip a payment or two, and suddenly the interest is piling up so high you can’t see the horizon.

Quietly wealthy folks avoid using credit as a crutch for everyday expenses. They tend to keep their debt limited to sensible investments—things that actually grow in value over time, like real estate or a well-planned business venture.

If a credit card is used, it’s often paid off in full each month. They don’t carry balances on store cards or sign up for fancy payment plans just to impress others with shiny new toys.

4. They don’t overspend on image-enhancing trends

You might have spotted this on social media: someone rents a luxury car for a weekend, posts a bunch of photos, and tries to imply they own it. Then there are folks who rent ridiculously expensive Airbnb properties so their feed looks like a millionaire’s playground.

Quietly wealthy individuals usually roll their eyes at these fleeting displays of wealth. They don’t drop massive amounts of cash (or credit) on short-term illusions that make them appear rich. They know that real wealth is about long-term security, not short-term glamour shots.

I’ve mentioned this before, but fake status signals don’t fool anyone who truly understands money. As Brene Brown has said, “What we don’t need in the midst of struggle is shame for being human.”

And that shame sometimes fuels the desire to appear “better off.” Quietly wealthy people aren’t trying to mask their insecurities with flashy trends. They understand that self-worth doesn’t come from a decked-out sports car you only lease for a photo op.

5. They steer clear of “vices on autopilot”

Call it the coffee addiction, the never-ending restaurant bill, or the daily rideshare splurges. While everyone has their indulgences, quietly wealthy individuals tend to keep these small daily costs from spiraling out of control.

One friend of mine—an accomplished entrepreneur—brews his coffee at home, invests in a sturdy thermos, and rarely eats out.

He’s not doing this because he can’t afford a latte; it’s because he values the discipline of controlling little expenses. Over time, daily $7 coffees, premium lunch deliveries, or frequent bar tabs can add up to a mountain of lost cash.

Micro-spending can have a surprisingly large effect on a person’s ability to save. We often overlook these small, regular indulgences because they don’t cost much in the moment.

But add them up over a year and you might be looking at thousands of dollars. People with quiet wealth choose carefully when and where to indulge, making sure it aligns with a bigger financial plan rather than an unchecked habit.

6. They don’t line up for every new gadget release

Some folks rush to pre-order the latest smartphone or laptop the moment it’s announced. I used to do this, convinced that each new model would radically improve my productivity. Spoiler alert: it rarely did. Those new features are often incremental, and the cost of always being at the cutting edge can be immense.

Quietly wealthy individuals typically stick to a more pragmatic cycle. They upgrade tech when it truly benefits them—whether that’s for better security, essential new functions, or because their old device finally gave up the ghost.

Ray Dalio once wrote about how it’s crucial to differentiate between “needs” and “wants” if you want to stay financially stable. The newest gadget is nearly always a want, not a need.

Of course, technology can give your business and life a major boost (believe me, I love my devices!). But there’s a difference between investing in essential tools and chasing every shiny release. Here at Small Biz Technology, we’re big proponents of making tech work for you—rather than you constantly working to afford your tech.

7. They steer clear of “boredom shopping”

We’ve all done that mindless scroll on e-commerce sites late at night. Suddenly, a pair of fancy headphones, a quirky gadget, or new workout gear finds its way into the cart. Buying out of boredom can wreck your finances without you even realizing it.

Quietly wealthy people often fill their idle moments in more meaningful ways. They might read, learn new skills, or simply relax without an urge to spend money. Tim Ferriss once noted, “Focus on being productive instead of busy.” That productivity mindset keeps them from blowing cash just because they have nothing else to do.

Boredom shopping is, in many ways, a modern phenomenon—one fueled by algorithmic recommendations and the endless possibilities of online stores.

A study found that too many choices can lead to decision fatigue, which can then lead to regret over impulsive buys.

The quietly wealthy handle this by limiting their exposure to these temptations: unsubscribing from deal newsletters, removing shopping apps from their phones, and setting specific intentions whenever they log on to shop.

Final words

The folks I’ve known with true financial security rarely talk about it—and they rarely flaunt it. Instead, they avoid spending traps that promise short-term thrills but lead to long-term regrets.

They skip the brand mania, say “no thanks” to high-interest debt, think twice about new gadgets, and sidestep any impulse that urges them to spend for the sake of appearances.

It’s not about being stingy; it’s about valuing peace of mind over fleeting status. If there’s one lesson I’ve learned from observing these quietly wealthy individuals, it’s that peace of mind might just be the most precious asset of all.

So the next time you’re tempted to buy something purely for the flashy logo, or you feel that pang of boredom shopping creep up, ask yourself: Is this purchase going to raise your stress levels or bring real value to your life?

Quiet wealth is built one smart decision at a time. And sometimes, the quietest moves speak the loudest in the long run.