People who are good with money look for quality over quantity, and don’t make purchases that will derail their money goals later.

You don’t have to be wealthy to be good with money.

However, a lot of wealthy people are good with money — and it’s how they got to be that way. Millionaires often aren’t living the lifestyle you might think they are. Instead, they’re frugal, and tend to spend only what they can afford. They’re always looking for ways to make their money grow, rather than spend it.

Millionaires or not, there are some purchases that just don’t make sense to anyone who’s good with money. Here are the top seven things they aren’t likely to buy or spend on.

1. They’re not buying brand-new cars

“The person who actually has several hundred thousand in the bank or may even be a millionaire is going to drive a five-year-old car or a 10-year-old car,” says personal finance expert and author Lynnette Khalfani-Cox.

A new car loses 10% of its value in the first month and 20% of its value in the first year, Insider contributor Steven John reports. Someone who’s good with money won’t want to take on that kind of loss.

Those who are good with money know that the best value comes from buying used and that by keeping the same car for a while, they can save a lot.

You don’t have to be wealthy to be good with money.

However, a lot of wealthy people are good with money — and it’s how they got to be that way. Millionaires often aren’t living the lifestyle you might think they are. Instead, they’re frugal, and tend to spend only what they can afford. They’re always looking for ways to make their money grow, rather than spend it.

Millionaires or not, there are some purchases that just don’t make sense to anyone who’s good with money. Here are the top seven things they aren’t likely to buy or spend on.

1. They’re not buying brand-new cars

“The person who actually has several hundred thousand in the bank or may even be a millionaire is going to drive a five-year-old car or a 10-year-old car,” says personal finance expert and author Lynnette Khalfani-Cox.

A new car loses 10% of its value in the first month and 20% of its value in the first year, Insider contributor Steven John reports. Someone who’s good with money won’t want to take on that kind of loss.

Those who are good with money know that the best value comes from buying used and that by keeping the same car for a while, they can save a lot.