By Jill Fraser

Researching the wealthy has been a surprisingly sobering exercise because apart from a few big spenders who enjoy indulging in fanciful whims such as customising the headrests of their Rolls-Royces and sipping martinis poured over diamonds it seems that the moneyed minority generally live a comfortable but non-extravagant life.

So what are the wealthy doing right?

1) Most significantly they live within their means, are often very thrifty and donate to noble causes. They continue to save regularly, possess a disciplined savings plan, have little or no debt and are very conscious of where they spend their money.

2) They live in fine houses – but it’s often the same property that they’ve been in for 20-plus years.

3) Don’t expect to see them driving around in the latest Mercedes - 86% of the luxury cars sold in the United States in 2007 were purchased by non-millionaires. They will probably have a decent vehicle but often they’ve had it for several years.

4) They prefer to vacation overseas - on average once every two years – than own a holiday home.

5) They maximise income, own appreciating assets and have a team of professional advisers around them to help them accumulate, manage and protect their wealth – but ultimately they make the final key decisions themselves.

What habits do you have that help you build your wealth? Click here to discuss this on FatCat's MoneyConfessions