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When people picture millionaires, they tend to forget that millionaires have to go to the supermarket just like every other economic class. However, a lot of millionaires do one particular thing when they go to the grocery store. The good news is it’s definitely something accessible for everyone and it could save shoppers a lot of money.
In 2024, Ramsey Solutions conducted a study of millionaires to find out their habits. Read on to learn about how millionaires grocery shop and one key tip they can offer to the masses that can help save money.
85% of Millionaires Make a Shopping List
That’s right: the thing that most of us write on a note in our phone or a random piece of paper is a tool millionaires swear by. According to the study, 57% of millionaires somewhat stick to their list, while 28% make a list and always stick to it.
One of the reasons why it’s so important to make a list is to avoid impulse buys. Those can easily blow the shopping budget. Lists give shoppers the opportunity to evaluate their budget and their pantry before going to the store. To make sure shoppers don’t double up on items they already have, it’s always advised to check the pantry before making the shopping list, as there might be some long forgotten items hiding on the shelves.
Other Characteristics of Millionaires
The rest of the The National Study of Millionaires is also very telling. It shows that 79% of millionaires did not receive an inheritance. And majority — 62% — did not graduate from an elite school. But, it still stands that the most practical advice we can glean from the study is drafting a shopping list before heading to the store.