Money-Saving Tips for the 1%

By , dealnews Media Editor

The thrift bandwagon is nearly at capacity, but that doesn't stop the ultra-rich from pinching their piles of pennies! Sure, the 1% could buy and sell every last one of you, but they like a good deal, just like the rest of us. Plus, rich people don't stay rich by throwing their money away! There are, of course, many ways to keep a fortune (though we don't advocate stuffing your mattress with bills). Here are a few money-saving tips tailored to you 1-percenters. Let the rich get richer!

Parsimonious Potables

Nothing says "celebration," "dinner out," or "riding in a limo" like champagne. But did you know that you can get a deal on your favorite carbonated drink? Most vendors offer about a 10% discount with the purchase of a case of bubbly. Since you're filling up bathtubs with the stuff, it'll quickly add up to savings. The same deal usually applies to wine, too, but how déclassé.


Save money on dressage saddles by buying refurbished. A little leather polish later (or a can of gold spray paint and a touch of gold leaf here and there) and only you and your horse will know the truth!

Zero to THRIFTY!

Why spend your money on a new Maserati that will start to depreciate the second you drive it off the lot? Instead, invest in a car that will keep it's value, like the a 1957 Ferrari 250 Testa Rossa, for instance. In 2011, this model sold at auction for $16,390,000. Now that's a car with resale value!

You're on a Boat

Why should you pay to not use your boat? Avoid pesky winter-dock fees by taking your yacht on a trip down to your third home in sunny Turks and Caicos.

Eye Wear

Common sense might lead you to believe that the monocle you wear should be cheaper than traditional glasses because it's half as much glass, but that's just not true! See, it all has to do with volume. More eyeglass frames manufacturers mean there's an abundant supply of frames, which lets these makers pass the savings along to you. Fewer monocle makers means you're paying a premium price. The only downside to making the switch to common glasses is that you have no way of registering quiet surprise when Lady Agatha confides in you that Tippy (her cousin's youngest daughter) is with child ... again!

To the Skies!

When you're not using your private jet to flit around the world, it's just sitting around, unused in the hanger, right? Meanwhile, you're still paying your salaried pilot to essentially not fly! Turn that downtime in to profit-time by renting your private jet out to plane-less individuals or for parties.

Alternatively, you can invest in flying lessons, then you can fire your pilot altogether for an even bigger savings. (Of course, this negates the income you would make from renting out your jet, but such are the burdens of the super-rich!)

We now have to go buy our lotto tickets for the week. In the meantime did we miss any absurd and likely untrue habits of the penny pinchers and ultra rich of our day? Sound off in the comments below.

Front page photo credit: Courant Blog
Photo credits top to bottom: Lab Art Gallery,
Voluntary Benefits Magazine, and Kinder Coaching

Jeff Somogyi is the dealnews Media Editor. He one day hopes to be rich, but not enough people are sending him free money. Find out how to donate to his cause on Google+, Twitter, or his blog.

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DealNews may be compensated by companies mentioned in this article. Please note that, although prices sometimes fluctuate or expire unexpectedly, all products and deals mentioned in this feature were available at the lowest total price we could find at the time of publication (unless otherwise specified).


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1 comment
Annoying waste of time, Jeff; from now on - use your own jet...