Reply to Nickel and dimed everywhere these days

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[quote=Anonymous][quote=Anonymous]My wealthy friends have always been cheap - multimillionaires buying used clothing on Primark or going on holiday to a beautiful place in Africa, but staying at a local hotel with no amenities rather than the expat-oriented luxury hotel cheap. I loved them for it but always was happy to shell out for the expensive hotel ... now, I am embracing their lifestyle.

When you suck billions out of the economy overnight, it sucks even more money out of the economy. It's called the money multiplier effect - every dollar the USG spends creates 5 or 6 dollars in the economy. And if the government stops spending, and the money supply goes down, people like us have less to spend so my family will spend nothing. The good news is that it turns out my family likes curried lentils. [/quote]

Many rich/wealthy people are frugal or rather best described as "well aware of where we choose to spend our money".  Especially those who earned their wealth (not given to them from family), and likely spent years living within their means.

If I'm on vacation at a beach resort, yes I'm going to choose to spend for luxury.  But if I land in Europe and going to get to a hotel at 6pm and take a train at 9am the next morning, even if I'm in Paris, I am looking for a really good value hotel and a good location not far from the main train station.  So I'm spending 300-400E, not 900E because it just doesn't matter for that evening at all. But if I'm spending a week in Paris, then I will splurge for a nicer hotel.  
Similarly, if it's a 2 hour flight, I'm not spending $600 extra for first class, if I can get an aisle seat in economy Plus/comfortPlus. But if it's an overnight to Europe, yeah I'm paying the cost to be in business with a flatbed.

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