Why millionaires don't spend on expensive clothes

You're never going to see Bill Gates, Mark Zuckerberg, or Warren Buffett wearing expensive brands, and there's a good reason.

Many millionaires do not spend on expensive clothes , they could, but they know that it is an unnecessary expense that can be avoided, because wearing a designer brand is not what will contribute the most to their success or their work.

Remember the 90's movie “ Blank Check ”? It's a Disney movie about a boy who, after being accidentally hit by a car, is given a blank check to fill out with the amount he thinks is adequate as compensation for the accident. The boy decides to write the amount of 1 million dollars and, to his surprise, the bank gives him the money without asking questions, and he dedicates himself to living his best life.

The problem is that 1 million dollars does not last forever and the child quickly runs out of funds, which teaches us all a very important lesson: even the greatest fortune will not last if you do not take care of it.

This has nothing to do with bill gates, zuckerberg, or the richest men inside of the world today, with the exception of it happens to be one that belongs to the reasons there happen to be things they definitely don't spend on top of.

Bill Gates , for example, doesn't spend much of his money on clothes or accessories (he's famous for wearing a Casio watch that's less than $100), and this is something that figures like Mark Zuckerberg, Warren Buffett, and Steve Jobs did (who wore the same New Balance sneakers for years).

Why do not they do it? Millionaires have many things they do not spend and this is because they understand that money is not eternal, they know that earning it takes a lot of work and that there are things that are not so important. It does not mean that you cannot afford luxuries, but rather that you make better decisions about the things you spend on. Gates, for example, told the Telegraph that he preferred to spend on travel.What should you do then? Mark Zuckerberg goes for the basics to create very similar looks, this because, according to CBNC Make It, it is what allows him to simplify his life and be able to focus on his work and on the things that matter, since he has one less decision what to drink in the morning

Gates goes for function and practicality, that's why he sticks with Casio watches and with simple looks made up of button-down shirts, sweaters and chinos, this because he learned from Warren Buffet that you really don't need much to dress well, be comfortable and stay productive.

Repetition is key. It's about using what you have many times and in different ways, to get more out of what you have in the closet and not waste your money. Many millionaires have stayed on top by living simple, austere lives, and clothing is a good place to start practicing this (like when Joaquin Phoenix wore the same suit to every award show he was nominated for). by Joker ).

An expensive shirt is a luxury and can lift your spirits, but you don't really need it to advance your career or personal life, and you can find great options at more reasonable prices, which help you take better care of your money.

On the other hand, clothes don't last forever, so many millionaires consider expensive options an unnecessary expense, since you're probably going to have to replace them at some point.