Many billionaires choose to live below their means with frugal habits and lifestyles.

Chanel Holden

2019-12-04 14:35:00 Wed ET

Many billionaires choose to live below their means with frugal habits and lifestyles. Those people who consistently commit to saving more, spending less, and sticking to a reasonable budget are more likely to become millionaires and even billionaires. Many millionaires emphasize the freedom that comes with spending below their means. For instance, the great American money manager Warren Buffett indicates no desire for having multiple houses, multiple cars, or any other kinds of material items. Buffett still lives in his modest Omaha house, which he bought for $31,500 in 1958 and should be now worth about $276,700 after proper inflation adjustments. Instead of using a high-tech smart phone, Buffett continues to use a flip phone (although he invests substantially in Apple equity stakes).

Also, the self-made British billionaire Richard Branson spends little on clothes, fair watercolors, and luxury items. With modest middle-class roots, Branson indicates that it would embarrass him to enjoy a lavish lifestyle. Further, Facebook cofounder and chief Mark Zuckerberg drives a modest set of wheels. His main daily uniform comprises a simple T-shirt, a hoodie, and a pair of jeans. Many millionaires and billionaires enjoy more quality time with their family and friends than lavish lifestyle changes.

 


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

CNBC's business anchorwoman Becky Quick interviews Nobel Laureate Joseph Stiglitz on the current Sino-U.S. trade war.

Daisy Harvey

2018-03-27 07:33:00 Tuesday ET

CNBC's business anchorwoman Becky Quick interviews Nobel Laureate Joseph Stiglitz on the current Sino-U.S. trade war.

CNBC's business anchorwoman Becky Quick interviews Nobel Laureate Joseph Stiglitz on the current trade war between America and China. As America imposes

+See More

The Economist highlights a trifecta of plausible explanations for better economic fortunes during the current Trump administration.

Chanel Holden

2018-08-27 09:35:00 Monday ET

The Economist highlights a trifecta of plausible explanations for better economic fortunes during the current Trump administration.

President Trump and his Republican senators and supporters praise the recent economic revival of most American counties. The Economist highlights a trifecta

+See More

Incoming New York Fed President John Williams suggests that it is about time to end forward guidance.

Becky Berkman

2018-05-13 08:33:00 Sunday ET

Incoming New York Fed President John Williams suggests that it is about time to end forward guidance.

Incoming New York Fed President John Williams suggests that it is about time to end forward guidance in order to stop holding the financial market's han

+See More

Rakesh Jhunjhunwala is India's equivalent to Warren Buffett in America.

Jonah Whanau

2016-10-19 00:00:00 Wednesday ET

Rakesh Jhunjhunwala is India's equivalent to Warren Buffett in America.

India's equivalent to Warren Buffett in America, Rakesh Jhunjhunwala, offers several key lessons for stock market investors: When the press o

+See More

Michel De Vroey delves into the global history of macroeconomic theories from real business cycles to persistent monetary effects.

Laura Hermes

2023-02-07 08:26:00 Tuesday ET

Michel De Vroey delves into the global history of macroeconomic theories from real business cycles to persistent monetary effects.

Michel De Vroey delves into the global history of macroeconomic theories from real business cycles to persistent monetary effects. Michel De Vroey (2016)

+See More

Central bank independence remains important for core inflation containment in the current age of political populism.

Jonah Whanau

2019-04-21 10:07:54 Sunday ET

Central bank independence remains important for core inflation containment in the current age of political populism.

Central bank independence remains important for core inflation containment in the current age of political populism. In accordance with the dual mandate of

+See More