What 5 self-made millionaires refuse to spend money on: It's 'fun being able to buy something and choosing not to'

It's easy to imagine what you'd buy for yourself if you were a millionaire. When you talk to actual millionaires, though, you realize that no one makes a million dollars — or keeps it — by spending indiscriminately.

Make It has spoken with plenty of millionaires over the years and often asks them, "What do you refuse to spend money on?" The answers show that even when you ostensibly have funds to spare, it's important to be intentional about your spending if you hope to grow and preserve your wealth.

For some, like millionaire Todd Baldwin, frugality is something almost akin to a game. "It's actually really fun being able to buy something and then choosing not to," he previously told CNBC Make It.

Here's what he and four other self-made millionaires say they never spend money on.

Jonathan Sanchez, a self-made millionaire and founder of Parent Portfolio, maintains a low clothing budget by keeping things straightforward.

"I don't overthink my outfits. I keep a small closet of simple, timeless clothes," he says. "If I'm going casual, I'll pair blue jeans with a T-shirt or polo. If I'm attending a formal event, I'll wear a suit and tie."

This convention allows him to avoid the temptation of spending on flashy new outfits or cheap, disposable fashions.

"I only buy new items when I need to replace clothes with unforgiving holes from normal wear and tear."

Steve Adcock publishes his Millionaire Habits newsletter as part of an effort to lead people to financial independence and early retirement the way he got there — by succeeding professionally, investing wisely and living frugally.

One thing you'll never see him spend on: extended warranties on household appliances and electronics from big-box stores.

 "You're probably not going to use