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Millionaires & Billionaires * Wealth * Millionaires & Billionaires * Luxury * Philanthropy * Millionaire Survey How the super rich spend their money Robert Frank | @robtfrank Wednesday, 1 Oct 2014 | 11:23 AM ETCNBC.com SHARES Millionaire Survey: Where the wealthy are spending CNBC's Robert Frank reveals where American millionaires are spending their money and what areas they are avoiding. Forget sports cars, diamonds and yachts. Today's rich prefer to spend their money on vacations, entertainment and collectibles. According to a new study from Spectrem Group, Americans worth more than $25 million think of themselves as frugal but actually live large. More than half agreed with the statement that "saving and investing my money gives me greater satisfaction than spending it." WIN-Initiative | Getty Images And when asked about how they became wealthy, "frugality" ranked among the top five factors, below hard work, education, smart investing and taking risk. Read MoreBillionaires are hoarding mountains of cash Yet their spending numbers show that they still enjoy the finer things in life—or at least, the finer experiences in life. Fully 60 percent spend more than $10,000 a year on vacation or leisure travel, the highest of any category. More than a quarter of spend more than $25,000 on trips, and 14 percent spend more than $50,000. Read MoreTop millionaire growth? Hint: J.R. would be proud "They work hard, so they like nice vacations," said George Walper, president of Spectrem Group. "And they take nice vacations because they can." By contrast, jewelry, cars and boats weren't as popular. More than three-quarters of the rich surveyed didn't spend any money on boats. Only 30 percent spend more than $10,000 on jewelry a year, and fewer than one in five of them spent more than $50,000 on a car. (Granted, the few rich who do like cars spend a lot: 10 percent said they spend $100,000 or more). Where to find America's new millionaires The geography of wealth in America is shifting to the oil/energy states, reports CNBC's Robert Frank, with a look at a new study that shows where the fastest growth of millionaires occurred last year. "It's not about flashy purchases anymore," Walper said. "Most folks are toning it down a little in terms of what's in style and what's ostentatious." Read MoreBeverly Hills Cannabis Club: High-net-worth pot? Perhaps the trend toward more private displays of wealth is why spending on club memberships remains high. The survey found that two-thirds of the rich spend money on clubs and nearly one in five spends more than $10,000 a year on arts and entertainment. Fully 60 percent spent money on collectibles, which many prefer to see as an investment. The rich also like to spend more on charity than on political contributions. More than half made political contributions, although most were under $10,000. Fully 58 percent, however, made donations to charity of more than $10,000 a year, while 25 percent made donations of more than $25,000. Robert Frank Robert FrankCNBC Reporter and Editor Click Here! Millionaires & Billionaires * A 1964 Ferrari 250 LM Coupe sold at auction this weekend for $9.62M. Classic cars hit highs at auction The first car auction of 2015 just wrapped up in Scottsdale, Arizona, with a record $292.8 million in sales. * The cruise liner 'Crystal Serenity' sitting berthed at Sydney's historic Rocks area in Sydney, Australia. $164K a year for luxe perma-cruise A widow estimates she will spend $164,000 this year to live aboard the Crystal Serenity, reports the Asbury Park Press. * Cartier to hike prices by 5% Richemont's flagship brand Cartier will rise prices for watches and jewellery by 5 percent in the euro zone following the surge in the Swiss franc. * 1% already bored with supercars More super rich than before are ditching those supercars you can buy off the forecourt and are customizing their rides for exclusivity. 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