NEW YORK –- Ever wonder how wealthy Americans spend their money? Surprisingly, it’s not on the highest-priced item or the most expensive store.

In fact, a survey conducted by a unit of American Express Co. showed wealthier Americans are more likely to spend cautiously and seek out bargains rather than pay full price.

According to the survey findings, 69 percent of Americans with discretionary household incomes of at least $125,000 spend money with a middle-class mind-set. These consumers are more likely to comparison shop and search the Internet for discounts than to buy on impulse or seek out salespeople to pamper them while they shop.

Interestingly, nearly four in five respondents said they came up from the middle-class.

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The survey was conducted last November before the problems with the sub-prime mortgage market spurred concerns that the U.S. housing slowdown might weigh on total U.S. consumer spending.

According to the U.S. Census Bureau data, about 19.7 million — 17 percent — of U.S. households had income of $100,000 or more in 2005. Two million — or less than 2 percent of the population — had income of at least $250,000.

The median household income in the U.S. in 2005 was $46,326.

The American Express study was based on data collected from more than 1,300 people who completed an Internet questionnaire from Nov. 3-14, 2006.

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