Say What? 9 Things Overheard Among the Wealthy

2. “We park the Mercedes a couple of blocks from the pub.”

Several years ago we made friends on vacation who like getting a good deal. Their local U.K. pub does a senior-priced special for lunch, and they want the same pricing at dinner. Since they are charming, they often get their way. They recently bought a new Mercedes S-Class (which starts at about $115,000).

Say what? Although they are wealthy, they still want value for money. They park out of sight so the owner does not reconsider discounting their dinner. We were at lunch on a different occasion when the server asked: “Do you have any allergies?” One replied, “Parting with cash.”

Credit: Adobe Stock

3. The "8,000-square-foot house on a half-acre lot."

Sound carries when you are in an outdoor café setting while on vacation. We were on a cruise ship overhearing a group of people talking, in rather admiring tones: “They built an 8,000-square-foot house on a half-acre lot.”

Say what? I don’t know what the zoning laws in that area are, but an 8,000-square-foot house is enormous. Large houses on smaller lots are often called McMansions. They average 3,000+ square feet in size. The house discussed is almost three times the size.

Credit: Adobe Stock

4. Telemarketers call the wealthy too.

Somehow, a nice couple we met got onto the subject of telemarketers. Many advisors probably get those unsolicited calls asking if you want to sell your house. The other couple agreed that they also receive those calls, then matter-of-factly said: “Which house do they want to buy? The lake house? The beach house? Our main house?”

Say what? People you meet on vacation often reveal a lot more about their financial circumstances than they realize.

Credit: Shutterstock

5. Why older people spend so much money on ultra-luxury vacations.

We have had the privilege of sailing on segments of world cruises from time to time. For different cruise lines, the world cruise is an annual event. You might get an inside cabin for the 100+ day voyage starting at $16,000 per person, but others spend $53,000 or more per person for suites.

Say what? I asked a friend who does this annually why he spends so much. He explained that there are some people who, on the one hand, consider how much money they have. On the other hand, they consider how many days they have left to live. They realize that the one hand has much more than the other hand.

Credit: Adobe Stock

6. Buying Turkish rugs.

When people travel to Turkey and other countries in that region, visiting a rug store is a rite of passage. In some cases, you are a captive audience. In others, when you are seriously interested in a rug, negotiation is often a three-day process involving leaving and returning. I overheard a conversation in which people were discussing the first example. They spoke in the unkind terms I would have used, having the same experience in Tunisia. Despite not liking the experience, they said: “I ended up buying two rugs, one for the big house and the other for the beach house.”

Say what? It appears that there are some people for whom real money is like Monopoly money. They realized they were probably being overcharged but bought two rugs anyway.

Credit: Adobe Stock

7. You are never too rich for free coffee.

The United Kingdom has a handful of major supermarket chains. They all issue loyalty cards, but one qualifies you for free coffee in the in-store café on a certain weekday. Some wealthy friends make it a point to shop there and then to get the benefit of their free coffee.

Say what? As one of the characters in "Crazy Rich Asians" remarked: “No one loves free stuff as much as the rich.”

Credit: Adobe Stock

8. The 75-cent martini and the workaround.

In our area, a local restaurant in an out-of-the-way location wanted to build up its weekday lunch business. It hit upon the 75-cent vodka martini, served with an olive or a twist. If you want a second olive, it’s 25 cents more. Limit two martinis per customer. The owner’s aim was to get the country club crowd in. And it succeeded. He noted that these same people attempt to game the system. One strategy is to spot some diners who are not ordering martinis. They are handed $2 each and asked to order their vodka martinis, which are then picked up by those other diners. Another workaround is for the person wanting a Bloody Mary to order tomato juice and a vodka martini instead, combining them at the table.

Say what? Wealthy people take advantage of good deals. They find ways to get the rules to work in their favor. That is why they hire good accountants.

Credit: Adobe Stock

9. A little inconvenience is OK if you can get a bargain.

Another wealthy local couple was shopping in a boutique supermarket. They had $100 in purchases, run through the cash register by the clerk. When they were about to pay, they discovered they had two coupons taking $10 off a $50 purchase. Although they could have brought their $100 purchase down to $90, they had a better solution: They had the cashier void the first transaction, divided their purchases into two $50 segments, paying for each one separately.

Say what? One of the ways that wealthy people stay wealthy is carefully watching how they spend their money.

Credit: Adobe Stock