Frugal Habits of the Rich and Famous

by on October 25, 2010 · 11 comments

Do you ever wonder how you would “be” if you had a mountain of wealth? What if you had unlimited (and continually compounding) money like Bill Gates, or an inherited silver spoon in your mouth like Paris Hilton? As a frugal person, this question makes me squirm a bit because I have seen other people whose frugal core has disappeared completely in the wake of money. I guess this means their frugality was not by choice, but by necessity, and once they had the means to spend a lot, the choice was obvious. The choice is obvious for me as well, as I have a pretty solid frugal core.

Still, I could certainly see myself getting rid of a few inconveniences in my life. Would I continue to coast the last mile stretch to my home in a pathetic attempt to save on gas mileage (that’s got to add up to a free tank of gas every five years)? Probably not. Taking the time to price out bird seed would definitely seem not as important. And unplugging all of our appliances directly after using them would be much lower on my list. Still, I would hope that my frugal grounding would remain because it is definitely apart of whom I am. I hate to waste resources, I cringe at atm fees, and the idea of eating out at restaurants everyday actually exhausts me.

I am happy to report that now I have some solid proof that some of the wealthiest men and women in the world who were frugal at heart to begin with have remained true to themselves, despite having billions in the bank and other assets.  Here are some of my favorite examples of billionaires and millionaires who, while they may spend a lot on some things, have a frugal habit here or there that has stuck with them (okay…a few of these border on cheap):

{ 10 comments… read them below or add one }

Aurora

hahaha this is hilarious, and a refreshing read since we are usually inundated with news of celebrities spending their millions on flashy clothes, cars, mansions, etc.

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Amanda L Grossman

Hello!!

I am glad you enjoyed reading it as much as I enjoyed writing it.

Can you believe the toilet paper one? Admittedly that is CHEAP…not frugal:).

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Kai

What a nice read , awesome to hear stuff like this

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Daniel

I would probably be much less frugal. I’d buy the nicest cuts of meat, I’d treat my friends really well, and I would never debate purchases.

That being said, I wouldn’t want to fully provide for anyone. I’m happy to make their lives easier, but I wouldn’t want them to rely on me for anything. They should think of it as a bonus, not a right.
Daniel recently posted..Suze Orman Gave Bad Advice

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FruGal

Hello Daniel!

Sounds like some good plans.

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Khaleef @ KNS Financial

I can’t believe that guy monitors toilet paper at his job! It’s one thing to do it at home, but don’t subject your employees to that.

I wonder if he rations it or not!
Khaleef @ KNS Financial recently posted..Help Find a Cure for Juvenile Diabetes

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Crystal @ BFS

Hubby and I think about what we’d do if we had more than 10 million and not much would change. I’d still wait to get a new car as long as my old one runs consistently. We would probably build our dream house but it wouldn’t be a McMansion. Our biggest splurge would probably be having the house cleaned weekly rather than biweekly…

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FB @ FabulouslyBroke.com

People don’t get rich by spending their money, that’s for damn sure.
FB @ FabulouslyBroke.com recently posted..Is your weight affecting your salary

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FruGal

Hello Fabulously Broke!

I had to fish you out of spam jail–sorry about that. Thank you for your comments!

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davhen

This is very informative . Job well done . Inspired with Bill Gates and Warren Buffett xD Like Father and Son . . .
davhen recently posted..Frugal Confessions – Frugal Living

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