But while the super rich can afford to purchase expensive luxuries, the most successful people know that living within their means is the path to sustained wealth.
"Here's the key question all of you should ask: When do you buy what you can afford versus what you need when what you need is less than what you can afford?" former CNBC host and personal finance maven Suze Orman explained to CNBC Make It at the eMerge Americas conference in Miami, Florida, in June.
In other words, just because you can afford the more expensive option doesn't mean it's always the best choice. As the saying goes: A penny saved is a penny earned.