my buddy let's call him "Ben" and I come from wealthy families. However, something I have always noticed about, not all, but most of my peers in my neighborhood is that rich people are so crazily cheap. Example: Ben has over $19M in his inheritance, still gets 10k a month from his fathers estate, and lastly earns 200k a year as an engineer. Aside from his income he pays no rent or utilities because the house is in his families name and the estate takes care of bills and the penthouse is downtown less than one block from his work so no car either, and no he isn't on any drugs or partying wildly lol. However this dude is the cheapest person on earth! his gloves broke and he fixed it with duct tape because he didnt want to spend $3 at 7-11, not exagerrating, everytime we go out to a restaurant with a group of friends he tries to tip in coins and even tried to haggle the price of a subway sandwich. I'm a financial advisor so I understand budgets and etc. but this is actually not so uncommon in many rich people. And I wonder why
obviously most aren't as extreme as Ben, but most are ridiculously cheap. Keep in mind I'm the type of guy who keeps his annual expenses very low regardless of its use ,business/pleasure, I avoid impulse buying of things I don't need. But alot of rich people just over do it and I would just like to ask why?????