7 Spending Tips From Frugal Billionaires
Carlos Slim Helu (Carlos Slim), a telecom tycoon and billionaire with well-known frugal tendencies, has a net worth of $60.6 billion, according to Forbes. Assuming no changes in his net worth, he could spend $1,150 a minute for the next 100 years before he ran out of money. To put this in perspective, he could spend in 13 minutes what a minimum-wage earner brings home after an entire year of the daily grind.
Granted, the world's billionaires (all 1,011 of them) are in the debatably enviable position of having, quite literally, more money than they can possibly spend, yet some are still living well below their means, and save money in surprising places. Even non-billionaires (currently 6,864,605,142 of us) can partake in these seven spending tips from frugal billionaires:
1. Keep Your Home Simple
2. Use Self-Powered or Public Transportation
3. Buy Your Clothes off the Rack
4. Keep your Scissors Sharp
5. Drive a Regular Car
6. Skip Luxury Items
What We Can Learn:
Some of the world's billionaires have frugal tendencies. Perhaps this thrifty nature even helped them make some of their money. Regardless, they have chosen to avoid some unnecessary spending (at least on their scale) and the 6,864,605,142 non-billionaires out there can follow suit, eliminating excessive, keep-up-with-the-Jones style spending. No matter what a person's income bracket is, most can usually find a way to cut back on frivolous spending, just like a few frugal billionaires.
no condescension
what's the catch?
lol....Verisi..
when they say skip luxury items, they don't mean skip the 30,000 or even 200,000 QAR Rolex, they mean skip the 5.6M$ Louis Moinet
colt: what happened to your money, i hope you have put it in a safe place... ;)
Don't go in for expensive haircuts when the same can be gotten at a much cheaper rate ;-)
what's that about?
deal..
just keep rolling!
i dont agree with driving a regular car, its been 3 years i bear 4th vehicle..., m not broker!
Soniya is busy counting her money, idk where gudone is??? :-(
where is Soniya and gudone?
missing in action today.
il try follow all those rules except number 3 & 6....
Did I say it was "Breaking News"? I don't think I did!
i was born to spend, m not millionare thanx God... :)
im gonna live once only..so if i have enough,i spend it wisely and if i have too much like Oprah.Im gonna give back some to the needy.and the rest I enjoy my life to the fullest.
that is what im planning to be now, especially after I will have to manage all the single ladies in the "singles group" ;-)
I needa cut back on frivolous spending :-P
colt is that your way of saying that your a cheap date lol
http://finance.yahoo.com/banking-budgeting/article/110550/tips-from-frugal-billionaires?mod=bb-budgeting