Being rich comes with several perks like getting free stuff and discounts. When you become rich, brands want to be associated with you and there are benefits they get by associating with you. For instance, brands give celebrities free stuff for influencer marketing. By so doing, they are able to get celebrities’ followers to buy their products.
This allows the rich to save or invest the money they would have otherwise spent on purchasing these stuff. Having known that, why do celebrities and rich people get free stuff? Let’s jump into it right away.
Reasons Why Celebrities Get Free Stuff
There are several reasons why celebrities and rich people get free stuff. They include:
1. Rich People Take Part in Influencer Marketing
The main reason why rich people get free stuff is for influencer marketing. Most rich people are celebrities and brands tend to use famous people to market their products. As such, these brands gift rich people free stuff to influence their followers to buy these products or services.
When people see their celebrities use a certain product or service, they also want to try it out. And since the rich won’t buy these products, brands give them for free just to influence the market.
2. Money has a Tendency to Earn More Money
When you have money, chances are that money will attract more money. This growth in money is usually exponential. When money is saved or invested, it generates more money. As a result, rich people's money tends to work for them.
For instance, since the rich have large bank balances in their savings accounts, they reap high interest. Also, the rich have many investment options like stocks, robo investing, and real estate. The rich have the ability to diversify their investments and in the end, they are able to generate more returns.
3. Wealthy People Are Not Charged Fees
Most of the time, rich people tend to pay lower bank fees and investment fees. It is way to attract rich people to bank their money with them. And since the rich have large bank balances, even if banks charge them lower fees, they will still reap a lot from them. When they save a lot of money with banks, banks then lend out the money to borrowers and earn interest.
Besides, it is easy for rich people to meet the minimum balance threshold to have bank charges waived. Most investment accounts and savings accounts require one to maintain a minimum balance. Otherwise, there are penalty fees. Since the rich have the money to maintain the minimum requirement, they can avoid such fees.
4. Rich People Easily Qualify for Rewards
The other way rich people get free stuff is when they shop. Many shopping stores require customers to make frequent purchases worth some amount of money to qualify for vouchers or shopping rewards. Since the rich can afford to shop in large quantities, they easily qualify for credit card rewards and other shopping rewards.
5. Rich People Get Discounts when They Pay in Cash
The other reason why the rich people get free stuff is because they can pay for goods and services in cash. Most sellers offer discounts to customers when they pay in cash and not in installments. The rich can afford to pay cash for goods and services and as a result, they qualify for higher discounts.
Should the Rich Get Free Stuff?
When you hear about rich people getting free stuff, the question that comes to your mind is; should the rich people get free stuff when there are so many people in need? It’s ironic. However, the truth is, if the super-rich get free stuff through ethical and legal ways, then they have the right to get them.
Summary of Why Do Rich People Get Free Stuff
It is ironic how rich people keep getting free stuff while there are many people in need. However, since they get free stuff through legal and ethical ways, they can get them. The main reason why they get free stuff is that they let their money work for them. And since many rich people are celebrities, they can be given free stuff by brands for influencer marketing.