link to original reddit post by /u/mrpenguin_86
This isn't universally true but simply what I've observed. Wealthy individuals that I know tend to find ways to reduce spending and invest. I'm contrast, poor people that I know always want new things and find great new ways to spend money. It comes as no surprise when I hear things like a recent poll showing high income millennials are generally living paycheck to paycheck. My generation was never taught to save, and this is what we get.
Importantly, I've seen this in governments. I'm originally from California, and if you don't keep up with the state, one thing they do is run deficits. Year after year they have deficits. So, what do they do when they actually have a surplus? They spend it all on anything and everything they can think of to look good. You've all heard the stories.
In contrast, here in GA, we had a local government recently decide to privatize certain government functions, saving hundreds of thousands (I can't recall what, but maybe it was related to EMS). This government is one of the best run and has lots of money when needed.
Interesting that no matter how you cut it, you see the same things with humans at all levels.