Article

2022-08-30 Economy

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 05:22|| || Front Page|| [11134 views ] Top

#1 will there be a list of the top 100 fraudulent over priced stocks and a gold key to the backroom free money handout place in WASHINGTON D.C.? like welfare food stamps and ebt cards for rich hud types?

Posted by Cholutle Thrans9751 2022-08-30 07:30|| 2022-08-30 07:30|| Front Page Top

#2 "He only invests other peoples money"

Posted by Skidmark 2022-08-30 07:41|| 2022-08-30 07:41|| Front Page Top

#3 ..a gold key to the backroom free money handout place in WASHINGTON D.C.

I believe that is called the Major Party Donor key, and its not for the New Year's Party.

Posted by Procopius2k 2022-08-30 08:38|| 2022-08-30 08:38|| Front Page Top

#4 OPM really is the way to go :-)

Posted by Besoeker 2022-08-30 08:39|| 2022-08-30 08:39|| Front Page Top

#5 When you are in the top wealthiest men in the world this list comes off as a bit pathetic.

Posted by ruprecht 2022-08-30 10:25|| 2022-08-30 10:25|| Front Page Top

#6 Serah Lewis, the author of the article is a fool or a child.

Posted by Vespasian Ebboting9735 2022-08-30 10:54|| 2022-08-30 10:54|| Front Page Top

#7 When you are in the top wealthiest men in the world this list comes off as a bit pathetic.

How did he find the money to become one of the top wealthiest men in the world? He clearly gets pleasure out of being frugal, and it harms no one. If everyone who could made more of such choices, the nation’s finances would be in considerably better shape. If the nation’s politicians made analogous choices, the world’s finances would not be on the verge of collapse.

Posted by trailing wife 2022-08-30 13:59|| 2022-08-30 13:59|| Front Page Top

#8 How did he find the money to become one of the top wealthiest men in the world?

Geico. It became his personal piggy bank and tax free hedge fund.

Posted by Snash Shairt9621 2022-08-30 14:08|| 2022-08-30 14:08|| Front Page Top

#9 At least he does not wear an Crapple watch.

Posted by M. Murcek 2022-08-30 15:27|| 2022-08-30 15:27|| Front Page Top

#10 I don't see Ikea in that list, so now I really know it's b.s.

Posted by DooDahMan 2022-08-30 15:34|| 2022-08-30 15:34|| Front Page Top

#11

Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net worth of over $103 billion as of August 2022, making him the world's seventh-wealthiest person. Wikipedia
Born:
Warren Edward Buffett, August 30, 1930, Omaha, Nebraska, U.S.
Education:
University of Pennsylvania, University of Nebraska–Lincoln (BS), Columbia University (MS)
Occupation:
Businessman, investor, philanthropist
berkshirehathaway.com

Posted by Clem Fillmore3993 2022-08-30 15:50|| 2022-08-30 15:50|| Front Page Top

#12 Trailing wife, it think the advice is good for the young and starting out. it just comes off as pathetic that he brags about clipping coupons while owning a private jet.

Posted by ruprecht 2022-08-30 15:55|| 2022-08-30 15:55|| Front Page Top

#13 I used to work for GEICO, after it had been bought by Berkshire Hathaway. They used to have a profit sharing bonus most years, which was usually pretty generous.
I was hired to teach the Java programming language. Then one day they announced that they were switching to the Microsoft platform, so I had to learn C#. The rumor was that GEICO did that because Warren played bridge with Bill Gates.

Posted by Rambler in Virginia 2022-08-30 16:17|| 2022-08-30 16:17|| Front Page Top

#14 Well, if Buffett is such a frugal old dude and wants to save a buck, then why didn't he use free open source Linux?

Posted by DooDahMan 2022-08-30 16:33|| 2022-08-30 16:33|| Front Page Top

#15 ..like Congresscritters its not his personal money.

Posted by Procopius2k 2022-08-30 17:15|| 2022-08-30 17:15|| Front Page Top

#16 He may be a jerk, but BRK and BRK-B have made my retirement account a lot fatter.

Posted by Chealing Chomotle4158 2022-08-30 18:10|| 2022-08-30 18:10|| Front Page Top

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