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10 Ways Warren Buffett's Frugal Habits Can Save You Money
[Moneywise] Warren Buffett might have billions of dollars to his name, but unlike other celebrities and financial gurus, he prefers to live life simply.The investing icon practices what he preaches when it comes to financial discipline, saving and paying off debt. That pays off during times of financial trouble like this. Consider what Buffett had to say during Berkshire Hathaway's annual shareholder meeting in May, when he acknowledged inflation was already one of the economy's biggest problems. Asked whether inflation "swindles equity investors," he replied: "Inflation swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody." When one of the world's most successful investors says it's hard to come out on top in an environment like this, it’s probably a good time to apply some well-tested strategies to tighten your belt. Here are 10 ways Buffett's frugality can help you save and spend wisely. 1. He lives in the same home he bought back in 1958 2. He rarely takes out loans 3. He buys breakfast cheap 4. He doesn’t splurge on brands 5. He doesn’t invest with borrowed money (anymore) 6. He buys marked-down cars 7. He finds creative ways to save 8. He does what he loves 9. He uses cash, not credit 10. He still clips coupons Posted by: Besoeker 2022-08-30 |
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