People Are Sharing Their Best "Rich People Tips," And I Wish I'd Learned This Sooner

With prices skyrocketing across the board in recent years, it's easy to feel frustrated or defeated when it comes to money.

Well, Reddit user u/gratitude1221 recently posed the question , "What is a rich people tip you wish you knew sooner?" And there were a bunch of great responses! Here are some of the best ones:

We also included answers from this and this Reddit thread.

1. "YouTube is your friend. Learn how to cut your own hair, fix appliances, change your oil, and cook at home. Look up workouts and look up audiobooks. Learn to do your own nails, pedicures, facials, natural remedies, etc."

— u/garcisu

2. "The faster you realize that you were programmed at birth to buy, buy, buy, the faster you can break the cycle and start saving with high interest rates that will compound you into wealth over 30 or 40 years."

— u/Additional_Ad_5970

3. "One monthly bill we have control over is food. I throw NOTHING away. If bananas are going bad, I make banana bread, then wrap and freeze it in small batches. With eggs going bad, scramble and freeze. I once had a package of bread rolls that were going to go bad. Before they did, I broke them into chunks, let them sit out for a few days, and then made bread crumbs. Possibilities are ENDLESS. Buy food on sale that week and meal plan from that. "

"If you go out to dinner, see who is having specials. Look for coupons. Download apps where you might get a discount."

— u/cathef

4. "Some things people never think about relating to your vehicle: Clean the junk out of your vehicle. The more weight, the more fuel you burn, the more money you waste. And don't drive so fast. For most trips, you don't save that much time really. Fuel usage in your vehicle is a bell curve, and most cars are geared to have their best mileage at around 55 mph. Driving 90 everywhere is throwing away money."

— u/Dakens2021

5. "Never carry a balance on a credit card. That's it; that's the tip."

— Anonymous

"Use your credit cards and an easy spreadsheet to never pay interest, build credit, and get some points. Even a bad credit card is 1% back."

— u/SP80516

6. "You can be very generous without spending a lot of money. The additional cost of feeding another person at home is tiny. For less than the cost of one ice cream cone at the ice cream store, you can buy a whole tub of ice cream. This is even more true with soft drinks and alcohol."

— u/SEA_tide

"Learn to knit, sew, or bake. When it’s time to give someone a gift, give one from the heart."

— u/cathef

7. "Use those little dryer ball things. They cut down on the time you have to use the dryer since your clothes dry faster, so less power is needed. You can also try hanging stuff on a clothesline to dry your clothes if you want to go to extremes and forgo the dryer altogether."

— u/Dakens2021

"If possible, don’t put clothes in the dryer unless you HAVE to. It wears them out quicker."

— u/cathef

8. "Spend on what you truly value. Ruthlessly cut what you don’t."

— u/_mdz

"Honestly, the most important thing is being mindful about how you spend your money. Find out what really makes you happy and spend on that. Cut out everything that doesn’t. When you become conscious of what you spend your money on and what makes you happy, it makes saving so much easier.

I used to spend so much money on clothes and junk. Turns out, they give me little happiness compared to jiu-jitsu, cycling, the gym, and reading. So I spend money on those hobbies and cut ruthlessly on everything else."

— Anonymous

9. "Don't travel in peak season or on peak days of the week."

— Anonymous

10. "If you aren't budgeting in monthly payments to an emergency savings account, you are setting yourself up for future, sudden debt. Whatever you can, even $10, pay yourself in an emergency account you don't spend. And remember: your bills, groceries, etc. are not emergencies, so don't pay those out from the emergency account. Whatever income you make beyond bills and budgeted expenses needs to be earmarked to earn you more income by way of interest on savings or investments."

— u/certifiedfluffernut

11. "Stay away from negativity. Nothing good ever comes of it. Every day I wake up, it’s a great day."

— u/reety82

12. "The only one I can think of right now concerns eating healthy, which can be super hard to do on a budget when fresh veggies cost an arm and a leg. My tip: frozen veggies. Not only can they be stored long-term, but they're frozen really soon after being harvested, which means that they're oftentimes better than the veggies in the produce section."

— u/Eastern_Mark_7479

13. "When I was working as a receptionist, a much older coworker was next to me when I got offered my first geologist job. When my excitement died down, she asked me what the benefits were. When I got to the 401(k) match, she told me that I needed to max out the match right away. She said, 'You were offered more money than you've ever made before, so just put in the full 6%. You'll never miss it.' I did exactly that, and she was right."

— u/ppnuri

"Yes! Always take the match."

— u/mamadenceo

14. "Wealth whispers and does not need external validation."

— u/First_Night_1860

15. "As a woman — learn your worth in the job market and don’t settle for less."

— u/sabarlah

16. "Think differently. It is not about saving. It is about not spending. Do you really need it? Do you have room for it? Can it wait? Ask tons of questions before buying."

— u/Zebras55

17. "The biggest unavoidable expenses in your life will be housing, transportation, and food. Minimize these expenses. I live in NYC, which is a notoriously expensive city. But by taking care of 'the big three,' the lifestyle here becomes surprisingly affordable. I live in an unfashionable neighborhood, use my monthly Metrocard to get everywhere I need to go on public transport, and cook for myself 95% of the time (rather than eating out). This saves a huge amount of money! (which I then blow on expensive tickets to Broadway shows, but that's beside the point)."

— u/lucyisnotcool

18. "Brush your teeth well two times per day. Dentists are expensive."

— u/AstroFire88

"Flossing is just as important as brushing."

— u/MrPinkle

19. "Cutting up old shirts into cleaning rags."

— Anonymous

20. And finally, "Personal finance is personal. Meaning: stop comparing yourself to others. Consider whether their decisions would also be good for you, but realize that it's okay and normal for your decisions to be one of a kind. It's okay for you to be ahead or behind your peers because you are not your peers."

— u/plexluthor

Do you have any "rich people tips" to share? LMK in the comments below!

Note: Some responses have been edited for length and/or clarity.