Once you get use to living frugally, I guess it's hard to change. I think there's some wisdom to be learned here. One of the billionaires quoted the Wikipedia definition of frugality:
"a traditional value, life style, or belief system, in which individuals practice both restraint in the acquiring of and resourceful use of economic goods and services in order to achieve lasting and more fulfilling goals."
Here are some examples of frugal billionaires that were mentioned in the Forbes link:
Warren Buffet - $57 billion - still lives in the same Nebraska home he bought in 1958 for $31,500
Ingvar Kamprad and family (Ikea founder) $33 billion - Flies coach and drives a 1993 Volvo
Jim C. Walton - $16.4 billion - reportedly drives a 15-year-old Dodge Dakota
David Cheriton - (Google insider) $1.4 billion - cuts his own hair rather than wasting time and money going to a barber
John Caudwell - (cellphone business) $2.2 billion - another one who cuts his own hair
Submitted: Nov 28, 2007
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Comments: 3
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Comments Received:
HA ! Good article - keeps me motivated....
"John Caudwell - (cellphone business) $2.2 billion - another one who cuts his own hair "
Posted: Nov 28, 2007
moneyhappy
(Unregistered)
I totally agree with one of the poster's comments: "Money in itself isn't what makes you happy. It's living a life that stays true to your values."
Posted: Nov 28, 2007
FrankC
(Unregistered)
Reminds me of the book "The millionaire next door". I wonder how many billionaires next door there are?
Posted: Nov 28, 2007
