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

President Trump imposes punitive tariffs on $60 billion Chinese imports in a brand-new trade war.

Laura Hermes

2018-03-25 08:39:00 Sunday ET

President Trump imposes punitive tariffs on $60 billion Chinese imports in a brand-new trade war.

President Trump imposes punitive tariffs on $60 billion Chinese imports in a brand-new trade war as China hits back with retaliatory tariffs on $3 billion U

+See More

Trump imposes tariffs on steel and aluminum in a trade war with some exemptions for Canada and Mexico.

Olivia London

2018-03-01 07:35:00 Thursday ET

Trump imposes tariffs on steel and aluminum in a trade war with some exemptions for Canada and Mexico.

Trump imposes high tariffs on steel (25%) and aluminum (10%) in a new trade war with subsequent exemptions for Canada and Mexico. The Trump administration&#

+See More

Amazon and Google face more intense antitrust scrutiny.

Apple Boston

2019-06-21 13:33:00 Friday ET

Amazon and Google face more intense antitrust scrutiny.

Amazon and Google face more intense antitrust scrutiny. In recent times, Justice Department and Federal Trade Commission have reached an internal agreement

+See More

Capital gravitates toward key profitable mutual funds until the marginal asset return equilibrates near the core stock market benchmark.

Peter Prince

2019-07-27 17:37:00 Saturday ET

Capital gravitates toward key profitable mutual funds until the marginal asset return equilibrates near the core stock market benchmark.

Capital gravitates toward key profitable mutual funds until the marginal asset return equilibrates near the core stock market benchmark. As Stanford finance

+See More

Barry Eichengreen compares the Great Depression of the 1930s and the Great Recession as historical episodes of economic woes.

Olivia London

2023-03-21 11:28:00 Tuesday ET

Barry Eichengreen compares the Great Depression of the 1930s and the Great Recession as historical episodes of economic woes.

Barry Eichengreen compares the Great Depression of the 1930s and the Great Recession as historical episodes of economic woes. Barry Eichengreen (2016)

+See More

Our proprietary alpha investment model outperforms most stock market indices such as S&P 500, Dow Jones, and Nasdaq.

Andy Yeh Alpha

2019-02-01 15:35:00 Friday ET

Our proprietary alpha investment model outperforms most stock market indices such as S&P 500, Dow Jones, and Nasdaq.

Our proprietary alpha investment model outperforms the major stock market benchmarks such as S&P 500, MSCI, Dow Jones, and Nasdaq. We implem

+See More