Not all high net worth individuals have the same approach to their money.

The "millionaires next door" — those with net worths between $1 million and $5 million — manage and spend their fortunes quite differently than the ultra-wealthy, whose net worths exceed $30 million.

Some of the differences are superficial, like a preference for subtle displays of wealth over flashy labels. Others, like their preferred investment vehicles, can have substantial impacts on their fortunes.

Read more: 5 things the ultra-wealthy are doing to prepare their portfolios for a possible recession, from ditching bonds to stockpiling cash

Keep reading to learn more about the differences between ultra-high net worth individuals and the millionaires next door. For the purposes of this article, Business Insider also examined the differences between millionaires' and billionaires' money habits. While the differences highlighted below speak to trends among the different levels of wealth, they are by no means exhaustive.

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