Money

7 ways to look like a millionaire without going broke

If you want to be a millionaire, start by thinking like one. And it doesn't hurt to look like one too. Fake it 'til you make it, right?

CNBC rounded up seven ways you can transform your wardrobe and your attitude to project millionaire vibes, no matter what your budget may be.

Invest in a few key pieces

You don't have to blow your entire budget to give your wardrobe a classy upgrade. Instead, invest in a few key pieces that can transform any outfit, and concentrate on how the clothes look on you, not on their price tags.

For example, Tiffany Yannetta, shopping director for fashion website Racked.com, recommends splurging on a high-quality blazer.

"Buying a good blazer is important because it's such an easy way to elevate an outfit," Yannetta tells CNBC. "The upper half of your body is what people see the most — more than your pants or your shoes."

Footwear can be important, too, though. For Fredrik Eklund, a self-made millionaire and the star of Bravo's "Million Dollar Listing," shoes make or break a professional outfit.

"Everyone notices your shoes," he writes in his book "The Sell." "What's on your feet can either give you a strong leg to stand on or hobble an outfit."

Fredrik Eklund
Mike Coppola | Getty Images Portrait
Fredrik Eklund

Hire a tailor

The price tag on your clothes doesn't matter as much as how the clothes look on you. While expensive clothing might fit better off the rack, inexpensive clothes can appear just as sharp with some expert tailoring.

For Eklund, this step is crucial to looking his best. "The biggest mistake both men and women make with clothes is buying them off the rack and not getting them tailored," he writes. "If your job entails meeting anyone face-to-face, find yourself an expert tailor who will shape your clothes to you.

Purchasing a less expensive piece of clothing and getting it fitted is one of Eklund's favorite style hacks.

"You can make a $400 suit like a $4,000 one with the expertise of the right tailor," he says.

Shop sales and look for deals

Stretch your clothing budget as far as possible by taking advantage of mega-sales at your favorite stores. Keep a running calendar of the best ones, such as Nordstrom's Anniversary Sale, Who What Wear recommends.

You can also score designer clothes and accessories for vastly reduced prices by culling consignment boutiques and outlet stores, such as TheOutnet and TheRealReal.

Take care of yourself

The easiest way to look your best is to take care of your health. Prioritize exercise, healthy eating and getting enough sleep.

Billionaire Amazon CEO Jeff Bezos follows this advice religiously and ensures that he gets at least eight hours of sleep per night. "Eight hours of sleep makes a big difference for me, and I try hard to make that a priority," he tells Thrive Global. "For me, that's the needed amount to feel energized and excited."

Adequate rest not only leaves Bezos invigorated for the day to come but allows him to continuously make thoughtful choices without suffering from decision fatigue. That's what can happen when choices become harder as a day goes on and you deplete your finite store of energy.

Woman with a watch and a clutch bag
Christian Vierig | Getty Images

Invest in a statement piece

It's important to look put-together, but that shouldn't come at the expense of your personal style. Splurge on a "statement item," such as a nice watch or distinctive pair of shoes, that highlights your personality and taste without making you look overly eccentric.

"Don't try too hard to distinguish yourself from everyone else in the office, but subtly let your personality shine through," Business Insider suggests after consulting with Vicky Oliver's book, "The Millionaire's Handbook: How to Look and Act Like a Millionaire, Even If You're Not" and image consultant Sylvie di Giusto.

Talk about ideas

If you're going to walk the walk, make sure you're also talking the talk. Start by thinking like a millionaire — then learn to speak like one. And millionaires talk about ideas, not things.

It's not that cars, movies and other people aren't interesting to wealthy individuals. But they tend to focus more on big ideas for the future than on the minutiae of what's happening in the present. While middle class people talk about cars and movies, millionaires own the car companies and produce the movies. They understand that "ideas are the most valuable asset in the world," according to author Keith Cameron Smith in "The Top 10 Distinctions Between Millionaires and the Middle Class."

"To become more successful, you must continually expand your mind," Smith writes. "In a world where everything is changing fast, you would be wise to spend time thinking of new ways of doing things."

Daymond John
Photo by Mike Pont
Daymond John

Be authentic on social media

While you're at it, make sure your social media accounts speak for themselves as well.

Serial entrepreneur and "Shark Tank" investor Daymond John says one of his best strategies for succeeding at work is to make sure his social media presence is authentic.

It's easy to use social media as a simple means of self-promotion. But people who could help you in your career or end up providing you with new opportunities down the line aren't going to be impressed.

Instead, use social media to communicate who you are and engage with others in your field.

"Be very honest with yourself, especially today with social media," John says.

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