We tend think of millionaires as the big spenders—diamonds, handbags, watches and yachts.
But the new CNBC Millionaire Survey shows that the seven-figure club are far more practical when it comes to their luxury spending.
The poll surveyed 514 Americans with investable assets of $1 million or more, which represents the top 8 percent of American households. The respondents came from around the country.
The online survey was conducted in March by SpectremGroup on behalf of CNBC. The overall margin of error was 4.3 percentage points.