You have commented 339 times on Rantburg.

Your Name
Your e-mail (optional)
Website (optional)
My Original Nic        Pic-a-Nic        Sorry. Comments have been closed on this article.
Bold Italic Underline Strike Bullet Blockquote Small Big Link Squish Foto Photo
Submit your comments on this article
Economy
10 Ways Warren Buffett's Frugal Habits Can Save You Money
2022-08-30
[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

#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  

#15  ..like Congresscritters its not his personal money.
Posted by: Procopius2k   2022-08-30 17:15  

#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  

#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  

#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  

#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  

#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  

#9  At least he does not wear an Crapple watch.
Posted by: M. Murcek   2022-08-30 15:27  

#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  

#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  

#6  Serah Lewis, the author of the article is a fool or a child.
Posted by: Vespasian Ebboting9735   2022-08-30 10:54  

#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  

#4  OPM really is the way to go :-)
Posted by: Besoeker   2022-08-30 08:39  

#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  

#2  "He only invests other peoples money"
Posted by: Skidmark   2022-08-30 07:41  

#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  

00:00