Why are so many rich people bad with their money management?

So I come from a family that has money but I was taught at an early age to get the best bang for your buck. Just don't spend money to spend it.

As I've gotten older I notice that many people who have money are not the same way. For example they would rather go to a resort and pay as they go. Instead of

So I come from a family that has money but I was taught at an early age to get the best bang for your buck. Just don't spend money to spend it.

As I've gotten older I notice that many people who have money are not the same way. For example they would rather go to a resort and pay as they go. Instead of finding a really nice all inclusive resort where you pay up front and all your meals and drinks are unlimited.

I find it crazy that anyone would go somewhere and do this. Why would a person knowing that there are some of the best resorts in the world that are all inclusive, stay at a resort where drinks and meals were not included?

WTF?

Best Answer:

Chris: Often the third generation from the wealth builder is horrible at money management, feeling its an entitlement, not an uncaring asset that if abused will disappear. This is not always the case, sometimes the good money habits become part of the familial culture, but if its going to disappear, its seems the third generation is often the danger one.

Other answer:

Chris:
They may not value the things included in all inclusive. I for example don't drink or enjoy spa treatments so including them wouldn't interest me. It is the same reason not everyone eats at buffets, you might get more food for the money but if you don't want to eat much a restaurant with a doggy bag is a better deal.
Stan:
One word, " Inherited "
tro:
your management of your money is certainly all your business, what the other people choose to do is their business, neer the twain shall meet
Judy:
Duh – maybe they don't drink much or eat gourmet food so don't want to pay the higher all-inclusive prices compared to paying only for what they'll use.
Murzy:
the best resorts are NOT all inclusive. they are in a different league if you can afford it
anthony:
Because we're rich and money isn't a thing to us because we get it all the time. Spend how you want it. I own 5 yachts 2 houses 4 businesses, def jam records, and your life ;D
Barkley:
" WTF? " Why do you even care? Envious they can afford to do as they wish? Or maybe you're just a cheapskate?

How do you define "rich"? It is Not your business how "rich" people spend Their money.

DR + Mrs Bears face:
If we have always had something we take it for granted. Thus those who have never had to budget don't worry about finding the best value for money.

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