Can You Guess How Much People With A Net Worth Of $1 Million Or More Spend On Groceries Each Month? Hint—It's Less Than The Average American

If you had to guess, how much do you think millionaires spend on groceries each month? Maybe thousands of dollars? Organic everything, top-tier cuts of meat, and a personal chef just to keep it all together? Think again.

Here's the breakdown straight from a Ramsey Solutions study on 10,000 millionaires:

• Millionaires worth $1 million to $1.99 million spend just $417 per month on groceries.
• Those worth $2 million to $2.99 million? They actually spend less—$390.
• The $3 million to $3.99 million group spends $361.
• The $4 millon to $4.99 million crowd is at $388.
• And the millionaires with a net worth over $5 million spend the most: $505 per month.

Did you catch that? Even the ultra-wealthy, those with a net worth over $5 million, spend only $88 more per month on groceries than millionaires at the lower end of the scale. That's still less than what the average American family spends!

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In case you're wondering how that stacks up, the average millionaire spends around $412 per month on groceries, while the typical non-millionaire household spends $647. That's a huge difference—proving once again that wealth isn't about how much you make, but how much you keep.

So, What's the Deal?

Simple: Millionaires don't waste money. They know exactly where their dollars are going, and they're not spending for the sake of spending. They don't live like the flashy social media influencers who make it look like being rich is all about yachts and designer bags. Instead, they stick to smart habits that keep them wealthy in the long run.

And it doesn't stop at groceries.

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What About Restaurants?

If you picture a millionaire eating out, you probably imagine them ordering the most expensive thing on the menu, leaving a fat tip, and maybe even picking up the bill for the whole restaurant—just because they can. But reality? Not even close.

Here's what the study found:

• The average American spends $3,365 per year on eating out—more than $280 a month.
• The average millionaire? $267 per month—less than most Americans.
• And if they use coupons? $222 per month.

Yes, you read that right. Millionaires use coupons. They're not embarrassed to save money, and that mindset is exactly how they got (and stayed) wealthy in the first place.

What's the Lesson Here?

Becoming a millionaire isn't about flashy purchases or luck. It's about smart money habits—spending wisely, saving consistently, and making intentional financial decisions over time.

See Also: Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.

The biggest study on millionaires ever conducted found that most wealthy people don't fit the stereotype. They didn't inherit millions or win the lottery. They simply worked hard, lived below their means, and made their money work for them.

The real question is: If millionaires are spending less on food than the average American, what does that say about how most people manage their money? 

You don't need millions in the bank to start making smarter financial choices—you just need a strategy. Whether that means budgeting better, cutting unnecessary spending, or even chatting with a financial advisor to create a game plan, the key is to start acting like a millionaire before you become one.

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