Over the past few decades I have seen people do some pretty crazy things with money. In truth I wasted a bit myself for a couple of years in the early days of making a decent income. While most people spend their time just trying to cover monthly expenses, many waste a ton trying to keep up “lifestyle” and appearances. It is always instructive to see that many wealthy people are actually relatively simple and frugal in their spending choices.
A recent article: 7 spending tips from frugal billionaires, outlines key areas where financial restraint is wise and rewarding to long-term success, peace and sustainability:
-keep housing relatively simple
-ride bikes and public transport
-buy discount clothes off the rack
-keep personal grooming costs on the low end
-drive a regular, paid for car until it wears out
-no private jets and yachts…
All good advice… worth the read and reflection
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I have to confess that a few years ago at age 42 I was still riding a folding push scooter for about five years when I was working downtown. That little thing saved me a tons of money.
Ever since that trend (scooter) faded out plus I haven't got younger either.
Thrifty life style still feels so good …………
nice tips especially about cars. Having worked in a car factory, I chuckle when I see people dropping 30 grand or more on something they assemble in a factory in a day or so. One of biggest waste of money by consumers. I learned my lesson and I still drive a car I bought in 94, still gets great gas mileage and runs well. Mind you I maintain it which most people don't. My parents used to have a saying. sometimes it's not how much you earn that's important it's how much you spend.
and i also try to fix my own car whenever possible. Mind you I have to knowledge to do so but you would be surprised how easy and inexpensive it is to change your own break pads and oil. You can save hundreds just doing that alone. And yes I do cut my own hair. once you have done it once you really wonder why you have been paying someone to do this all these years.