When you think that you will stop being frugal when you have ‘made it’, it may be worthwhile to note that some of the wealthiest people alive have strict and tight spending habits. If you would like to grow your fortune with hardly any work on your part, adopt these simple, smart spending habits from the world’s richest individuals.
They Make Use of Coupons
It is so easy to disregard coupons as not saving you enough money to be worth the trouble of cutting them out and organizing them. However, when you use online coupon codes like this Bed, Bath & Beyond coupon you can see how quickly a few cents here or there can add up. Though coupons are associated with being of a lower-income status, studies show that it is actually the more well off households that regularly use coupons to save on their groceries or other large purchases. Many celebrities have put in an effort to make couponing a hip and fashionable way to save some money.
They Go As Paperless As They Can
We all know that carrying a large amount of cash on us can lead to some pretty impulsive purchases. It is better to save your money in a bank and only use cash infrequently and for minor purchases. This is not only a more environmentally friendly way to live, but it can help keep you from spending an amount that you just cannot afford. Furthermore, using cash makes following a budget much more difficult. Many of the world’s wealthiest individuals have learned how easy it is to become and stay that way by removing the temptation of spending their money.
They Choose Quality Over Cheap, Poorly Made Goods
There is an old Russian proverb that says the more frugal man is the one who spends a lot on his boots, they will last him ten times as long as the pair that only cost a tenth of the price. Sometimes it is better to save for a higher quality version of your desired product than to go for instant gratification.
They Do Not Lead a More Expensive Lifestyle Than They Can Afford
It is so important that you not live beyond your means. Sometimes this means having a strict budget with nothing left over. Many millionaires and billionaires will tell you that they do not spend useless money on a brand name, or the latest model. Not when they can get one that works just as well for a fraction of the price.
