There’s a stark contrast between living luxuriously and living wisely.

This difference boils down to knowledge and understanding. Many wealthy individuals refrain from indulging in certain everyday luxuries, not because they can’t afford them, but because they understand the math.

Living wisely means recognizing the long-term impact of everyday spending habits. And believe it or not, the wealthy often say no to these common indulgences.

So, let’s pull back the curtain on the 8 everyday luxuries that many wealthy people quietly avoid—because they’ve done the math and know better.

1) Daily coffee trips

There’s a hidden cost in every cup of coffee we buy from our favorite café.

And wealthy people, more often than not, are aware of this.

Sure, a $5 latte might not seem like a lot, but when you do the math, it adds up pretty quickly. If you’re buying a coffee every workday, that’s $25 a week, $100 a month, and $1,200 a year.

Now, think about it. That’s quite a chunk of change for something as simple as coffee.

Many wealthy individuals prefer to skip the daily café run. They know that saving those few dollars every day can lead to significant savings over time.

It’s not about being stingy; it’s about understanding the long-term effects of small, everyday expenses. And that’s why daily coffee trips are one of the everyday luxuries that wealthy people quietly avoid.

2) High-end brand clothing

I’ll let you in on a little secret from my own life.

Once upon a time, I was quite fond of high-end brand clothing. The allure of the designer label, the quality of the fabric, and the status it projected held a strong appeal.

But then, I had a wake-up call.

One day, while tidying up my wardrobe, I realized how little I wore these expensive pieces. Many of them had been worn only once or twice, some were still with tags. When I calculated the cost per wear, it was astounding.

Many wealthy people—myself included—have come to realize that high-end brand clothing often doesn’t offer value for money. Sure, they’re of good quality and can make you feel great. But are they worth the hefty price tag? Especially when there are plenty of high-quality, stylish options available at much more reasonable prices.

By being more mindful about our fashion choices and opting for cost-effective alternatives, we’re able to save a substantial amount without compromising on style or comfort. And that’s why high-end brand clothing is another everyday luxury that many wealthy individuals quietly avoid.

3) New car smell

We’ve all been tempted by that new car smell. The allure of a brand new vehicle, with its shiny exterior and advanced features, can be hard to resist.

But here’s something you might not know: A new car can lose up to 60% of its value within the first five years of ownership. It’s a phenomenon known as depreciation, and it’s the reason many wealthy individuals prefer buying used cars.

Why pay a premium for a new vehicle when you can get a slightly older model—with all the same features—at a fraction of the cost? Plus, by buying used, you’re letting someone else take the biggest depreciation hit.

So while the new car smell might be enticing, the savvy wealthy know that it’s not worth the cost. That’s why new cars are one of the everyday luxuries that many well-off people tend to avoid.

4) Premium cable packages

In the era of streaming services, premium cable packages can seem like a luxury. The array of channels and exclusive content can be tempting, but the cost can also be exorbitant.

Wealthy individuals often understand that these packages come with a hefty price tag. For a service that often includes many channels they may never watch, it doesn’t always equate to value for money.

Instead, they opt for more cost-effective alternatives. With the rise of streaming platforms like Netflix, Amazon Prime, and Disney+, there’s an abundance of quality content available at a fraction of the price.

So, while premium cable can offer a lot, it’s another everyday luxury that many wealthy people prefer to avoid. They understand the value of selective consumption and prefer to spend their money more wisely.

5) Extravagant vacations

Traveling is an enriching experience that broadens our horizons. But extravagant vacations, with their five-star hotels and first-class flights, can quickly burn a hole in your pocket.

Many wealthy individuals understand this. They know that the essence of travel is not in the opulence of your hotel room or the exclusivity of your flight cabin, but in the experiences you gain and the memories you create.

Instead of splurging on overpriced accommodations and airfare, they prefer to invest in local experiences, cultural immersion, and meaningful adventures. They understand that the true luxury of travel lies in its ability to transform us, not in the price tag attached to it.

So while extravagant vacations may seem like a tempting luxury, many wealthy people choose to avoid them. They know that the most valuable travel experiences often come without a hefty cost.

6) Eating out regularly

Growing up, my family didn’t have a lot of money. We rarely ate out, and when we did, it was a special occasion. As an adult, I fell into the habit of dining out frequently—until I realized just how much it was costing me.

Many wealthy people can attest to this. Eating out regularly may save time and effort, but it also eats into your budget. An average meal at a restaurant can cost two to three times more than a similar meal prepared at home.

Moreover, preparing your own meals allows you to have control over what goes into your food. It’s not just about saving money—it’s also about leading a healthier lifestyle.

So while the convenience of eating out may seem appealing, many wealthy individuals choose to cook at home more often. They understand that the cost savings and health benefits make it a smarter choice in the long run.

7) Expensive gym memberships

Maintaining physical fitness is important, but expensive gym memberships aren’t the only way to achieve this.

Many wealthy individuals understand that while high-end gyms offer an array of equipment and classes, they also come with a hefty monthly fee. And quite often, a good portion of these services go unused.

Instead, many prefer to invest in home workout equipment or take advantage of outdoor activities. Running in the park, cycling around the neighborhood, or even doing bodyweight exercises at home can be just as effective for maintaining fitness.

So while expensive gym memberships might seem like the go-to option for fitness, many wealthy people choose to bypass them. They know that staying fit doesn’t have to come with a high price tag.

8) Constant gadget upgrades

In the era of rapid technological advancement, it’s easy to get swept up in the latest gadget releases. But constant upgrades can be a significant drain on your resources.

Many wealthy individuals understand that while new gadgets come with enhanced features, they often don’t offer substantial improvements over the previous models. Plus, the costs of constantly upgrading can quickly add up.

Instead, they often prefer to make do with their current devices until there’s a compelling reason to upgrade. It’s not about being resistant to technology—it’s about understanding the value of what you already have.

So while the allure of the newest tech gadget can be tempting, it’s another everyday luxury that many wealthy people prefer to avoid. They know that being content with what they have is a key aspect of maintaining their wealth.