Reasons Why Rich People Dress Simple

Have you ever wondered how it would feel to have so much money that you are able to afford anything that you ever wanted? To not have to go to work every day in an old beat up car, stuck in traffic for a few hours, then have to work for 8 hours then have to fight traffic again just to get home. Well, if you have millions and even billions of dollars in your bank account then you would never have to go to work ever again. But to become rich, you’d have to work hard. People with a lot of money actually don’t look rich when you first see them, and it’s actually people that have less money that tend to dress up with really expensive clothes. Billionaires usually don’t look rich, and here’s the reason why.

In Order To Avoid Decision Fatigue

Mark Zuckerberg, Steve Jobs and Bill Gates all keep it simple in the style department

Decision fatigue is the phenomenon in which you gradually lose the ability to make good decisions and the slight deterioration of the quality of the decisions that you make due to being forced to make a series of tough decisions. It is actually well studied and well-documented, and the study “The Psychology of Irrationality” list decision fatigue as one of the main causes of irrational and poor decisions. Former President of the United States of America, Barack Obama commented about decision fatigue; “You’ll see I wear only grey or blue suits. I’m trying to pare down decisions. I don’t want to make decisions about what I’m eating or wearing. Because I have too many other decisions to make.”

In Order To Save Time

If you’re the guy that invented the largest social media platforms in the world, then surely you must be incredibly rich. Mark Zuckerberg went from broke college kid to multi-billionaire when he invented Facebook. Today, Zuckerberg has a whopping 71.9 billion dollar net worth, and if you saw him on the street and you don’t know what he looks like then you wouldn’t think that the guy is worth more than a small country’s GDP.

He actually posted a picture of his wardrobe, where he has a ton of gray t-shirts. Not having to worry about what to wear can help you save time, and we all know that time is money. An inspirational project called Project 333 says that people should reduce their wardrobe pieces into just 33 items which can help you save time and energy in choosing what to wear.

To Create A Memorable Image

Apple CEO, the late Bill Gates, wears his signature black turtleneck at an event

Steve Jobs was the guy behind one of the wealthiest and most popular technology companies in the entire world, Apple Inc. Not only was he the co-founder, chairman, and the chief executive officer of Apple, but also the CEO and majority shareholder of Pixar and a board of directors of The Walt Disney.

Steve has an iconic style; a black turtleneck and blue jeans. It’s an easy to imitate style which is easily recognizable and not very expensive. Establishing your own style is not only for famous celebrities and fashion models, but also for billionaires. Alice Gregory wrote an article for J. Crew magazine called “Iconic. A cheap and easy way to feel famous” in which she says,  she says,”A uniform can be a way of performing maturity or, less charitably, impersonating it. A uniform insulates the sort of sober priorities that ossify with age, as well as a deliberate past of editing and improving.”

It’s Better To Spend Money On More Important Things

A billionaire wouldn’t have gotten to where he is now by spending money on trivial matters such as clothing. They wouldn’t have been able to amass a fortune that we could never hope to achieve if they spent their money on how most people do. The North Dakota State University did a study and they found out that the average household in the United States of America earns around $50,000 per year, and the whole family spends around $2,000 annually on clothing. $2,000 of $50,000 is 3.8% of the average family’s income, which is if you think about it isn’t exactly that much, but imagine if someone like Bill Gates, Mark Zuckerberg or Steve Jobs spent 3.8% of their fortune on clothes then that would be millions of dollars every year. A billionaire become rich and stays rich not by spending money on clothes, but by spending money on something that actually matters and earn him more money.