You might picture a millionaire cruising through designer boutiques or never thinking twice about price tags — but that’s not always the case. CNBC reported that the U.S. added a thousand new millionaires a day in 2024, and some of these financially successful people stick to surprisingly simple habits, like shopping at thrift stores.
It may sound unexpected, but for one self-made millionaire, browsing secondhand racks isn’t about saving pennies; it’s about mindset, value and even a little fun. GOBankingRates spoke with self-made millionaire Shanli Liu, finance expert and the managing partner of FreedomFolio, on why she continues to shop at thrift stores.
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Valuing Sustainability and Smart Spending
Even though she’s built significant wealth, Liu still chooses to shop at thrift stores regularly.
“It’s not just about saving money,” she said, “though that’s certainly a benefit. It’s about valuing sustainability and smart spending.”
She said she finds that buying quality secondhand items helps her avoid unnecessary waste and aligns with a mindset of quiet luxury, where subtlety and intentional choices matter more than flashy logos.
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Keeping Yourself Grounded
Shopping thrift also keeps Liu grounded.
“It reminds me that wealth doesn’t have to translate into excess or impulsive spending,” she said.
The money she saves on clothes and everyday items frees her to invest more strategically elsewhere, whether that’s in her business or financial portfolio. She added that this kind of mindful spending is more rewarding than chasing every new trend or high-end brand.
Reflecting Your Values
For anyone looking to build wealth or maintain it, Liu recommended considering how your spending habits reflect your values.
“Thrift shopping can be a simple but powerful way to express financial discipline and environmental responsibility,” she said.
It’s not about deprivation, it’s about choosing what truly adds value to your life and letting go of the pressure to keep up appearances.
The Bottom Line
Shopping at thrift stores isn’t just a quirky habit — it’s a reflection of intentional living. For Liu, it’s about aligning spending with values, staying grounded and making room for smarter financial decisions. Her approach shows that wealth isn’t defined by how much you spend, but by how thoughtfully you manage your money.
Whether you’re building wealth or simply trying to live more intentionally, embracing mindful spending, thrift stores included, can be a surprisingly powerful tool.
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This article originally appeared on GOBankingRates.com: I’m a Self-Made Millionaire: Here’s Why I Still Shop at Thrift Stores
