5 Things That Cost Wealthy People a Lot

Related: 11 'Credentials' That Give You an In With the Wealthy

Film and TV often stereotype wealthy people as folks who drink champagne all the time. Who can forget another stereotype: the rich guy lighting a cigar with paper money. In reality, wealthy people are often cheap. That's how they stay wealthy. Showing them how to save money is a great way to get on their radar screen. Put another way: Wealthy prospects do not mind spending money, but they hate wasting money. Here's the problem: If you approach a group of wealthy folks at the country club and start talking about how to get the cheapest airfare, the group might not be that interested. If you approach each member of that group individually, about the same subject, you will probably hold their attention. Many people project an image of spending money freely, In reality, they watch their spending very closely. Their day jobs often involve keeping business spending within a budget. You can be their hero. Check out the gallery above for five topics that could appeal to cost-conscious HNW prospects, along with five tips for starting conversations about those topics. (Image: Diego M. Radzinschi/ALM)