8 ‘poor person life hacks’ people still use, even after they’re no longer broke
You’d think millionaires would be the first in line for the latest gadgets and fanciest meals, right? Think again.
Take Warren Buffett. He’s one of the richest people on the planet, yet he still resides in the same modest home in Omaha, Nebraska, that he purchased in 1958 for just $31,500. It turns out, the habits people learn when money is tight don’t just vanish when their bank account grows. They stick around. Why? Because these aren’t just “poor person” hacks; they’re “smart person” strategies.
Growing up with financial insecurity fundamentally wires your brain to be resourceful. It creates what psychologists call a “scarcity mindset,” a kind of hyper-awareness that sees potential where others see waste. Even when the scarcity is gone, the skills remain.
According to psychologist Amanda Clayman, many people who build wealth still carry “money guilt” or a lingering fear of “losing it all again.” This feeling keeps them grounded and their habits sharp. These aren’t just money-saving tricks; they’re life-long strategies for smarter, more intentional living that provide a powerful sense of control and peace of mind. Let’s break down the top 10 hacks that the financially savvy never give up.
They cook most of their meals at home
Long before meal prep became a trendy hashtag, cooking at home was the ultimate non-negotiable for saving money.
Research by The Nutrition Coaching shows the average meal from an inexpensive restaurant costs nearly 285% more than a meal cooked at home—that’s about $16.28 versus just $4.23. And that’s before drinks, tips, or those sneaky delivery fees that can sometimes double the cost of your order. A simple pasta dinner for a family of four can easily run $50 to $60 at a restaurant. At home? You could make the same meal for under $10.
This single decision to cook at home triggers a powerful chain reaction. It forces you to plan meals, which helps you avoid impulse buys at the grocery store. And that, in turn, helps you slash food waste—a habit that costs the average American household up to $1,500 every single year, according to the USDA.
They’re masters of the secondhand score
For the financially savvy, ‘thrifting’ isn’t just a trend—it’s a high-stakes treasure hunt where the prize is quality without the crazy price tag. CouponFollow reports that, on average, people who shop at thrift stores save around $1,760 a year.
And it’s not just for people pinching pennies. A 2023 CTFAssets study found that nearly half of high-income consumers purchased secondhand products, often focusing on furniture and electronics. Gen Z is leading the charge, with 83% having bought or being open to buying secondhand goods.
So what’s the appeal beyond the price? Psychologists say it triggers a “powerful dopamine rush” from the “thrill of the hunt.“ Finding that unique, one-of-a-kind item provides a sense of individuality that you just can’t get from mass-produced stuff. It’s a smart habit that has become a status symbol of its own.
They fix it instead of replacing it
In a world that screams ‘toss it and buy a new one,’ they quietly grab their toolbox, pull up a YouTube tutorial, and save a fortune.
The DIY approach pays off, big time. For instance, a survey from CarParts.com found that a third of drivers who do their own auto repairs save over $1,000 every year. This mindset is also a quiet rebellion. Many manufacturers intentionally make their products difficult to fix, pushing you toward their expensive repair services or a brand-new purchase.
Choosing to repair something is more than a financial move. It’s an act of reclaiming control over your own property and pushing back against a culture of disposability.
They drive their cars until the wheels fall off
The flashiest car in the parking lot often belongs to the person with the biggest loan. The truly wealthy are often the ones in the 10-year-old Toyota.
This isn’t just an observation; it’s a nationwide trend. According to S&P Global, the average age of vehicles on U.S. roads has climbed to a record high of 12.8 years in 2025, with passenger cars averaging an even older 14.5 years. The reason is simple, brutal math. A brand-new car loses about 10% of its value the second you drive it off the lot. After one year, it’s down 20%. And after five years? It’s lost a whopping 60% of its value.
That’s why buying a car that’s a few years old is so smart—you let someone else take that massive financial hit. But the savings don’t stop there. A five-year-old car can be 27% cheaper to insure than its brand-new counterpart. Plus, you dodge all those extra costs like higher sales taxes and bogus “destination charges” that get tacked onto new vehicles.
Driving an older, paid-off car is a quiet statement that you value financial freedom more than temporary status.
They see potential in what others call “trash”
You know that takeout container or old t-shirt you’re about to toss? For someone who’s learned to be resourceful, that’s not garbage—it’s free Tupperware and a future cleaning rag.
This habit is born from what psychologists call “scarcity conditioning”—a survival instinct to make every single resource last. It’s why you’ll find people meticulously washing and reusing Ziploc bags, saving glass jars for storage, and cutting up worn-out clothes for cleaning.
This mindset helps people overcome a common psychological quirk called “distortion bias,” where we perceive something as worthless, even if it’s perfectly usable or recyclable, simply because it’s dented or torn. These small acts have a profound impact. Each year, Americans send over 82 million tons of packaging waste to landfills.
They treat the library like a VIP club
While many spend hundreds of dollars a year on subscriptions, the financially savvy are swiping a different kind of card—one that’s free and unlocks a world of entertainment and education.
Public libraries are one of the most underutilized financial resources available. Studies show that for every $1 invested in a local library, the community gets back between $3 and $6 in value.
And forget the stereotype of dusty old books. Today’s libraries are hubs of technology and culture. With a free card, you get access to e-books and audiobooks (goodbye, Audible subscription), movie streaming services like Kanopy, digital magazines, and even free online courses.
They’re always turning off lights and saving water
It might have started with a parent yelling, ‘We’re not paying to light the whole neighborhood!’ but this habit sticks because the savings are real and the effort is zero. These tiny actions compound into big money. The U.S Environmental Protection Agency reports that the average family spends over $1,000 a year on water, but can save more than $380 of that just by being more efficient.
Think about it: turning off the tap while you brush your teeth saves up to 8 gallons of water a day. Fixing a small leak can save 9,400 gallons a year.
Plus, there’s a hidden bonus: saving water saves energy. According to the EPA, letting your faucet run for just five minutes uses as much energy as leaving a 60-watt light bulb on for 14 hours. Since about a quarter of an electric bill can go toward heating water, a shorter shower means you’re saving on two bills at once.
They buy for the long haul, not for the moment
The cheapest option is rarely the most frugal one. Smart spenders know that paying more once for quality is better than paying less five times for junk.
This is the “buy nice or buy twice” philosophy, and it’s a core habit of people who are good with money. They’d rather invest in a high-quality pot that will last a lifetime than buy a cheap set that needs to be replaced every few years.
This mindset is closely tied to the rise of minimalism and conscious consumerism. This isn’t about deprivation. It’s about making a smarter calculation. A $30 pair of fast-fashion shoes that lasts one season is actually more expensive than a $150 pair of well-made shoes that lasts a decade. It’s trading a higher upfront cost for much lower long-term expenses and less hassle.
Key Takeaway
These eight habits are a masterclass in resourcefulness that anyone can adopt. They often begin as survival skills born from scarcity, but they evolve into sophisticated strategies for building a life of financial freedom, security, and intention. The ultimate “life hack” is realizing that true wealth isn’t about how much you can spend, but about how wisely you can live with what you have. These habits are the blueprint.
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