The frugal habits of the super rich

Avatar of Nick John By Nick John Dec4,2023 #frugal #habits
The frugal habits of the super rich 2
The frugal habits of the super rich 2

Being frugal means they’re smarter about prioritizing their money, finding the best value assets, and making solid investments.

Below are the habits of the world’s richest people, according to Entrepreneur.

Billionaire investor Warren Buffett lives in a house he bought more thanĀ 50 years ago.

1. Use coupons

People with an average income of $100,000 or more tend to use coupons more than people earning less than $35,000.

2. Living below your means

The richer you are, the simpler your lifestyle.

Wal-mart founder Sam Walton is famous for using a 1979 Ford F150.

The same goes for billionaires’ residences.

Founder of furniture company – IKEA – Ingvar Kamprad and former Microsoft CEO – Steve Ballmer have not used private planes for many years.

Rich people don’t spend money on designer clothes.

3. Value quality over quantity

Rich people of course do not like to treat themselves.

4. Don’t bring a lot of cash found `76% of people who spend cash on luxury goods like super cars, jewelry or electronics are not millionaires.`

According to Brad Klontz – professor of Personal Finance at the University of Kansas, rich people are often `cautious about money`.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *