Even Billionaires & Celebrities Follow These Five Simple Money Saving Tips
There’s no guarantee in life that you’ll become extremely rich. However, what you can do is save money just like the richest people on earth do. We tend to think that people who’ve got more money than they can spend live extremely lavish lives, and they sometimes do tend to do so, but the point that you need to focus on is their saving habits. There’s a lot of wisdom to be gained from them.
A billionaire like Warren Buffet knows what he’s doing, and if he spends coupons to get his food from McDonald’s, then you have no reason to dine at an upper class restaurant even though you’re not even close to being as wealthy as he is. That’s not all, of course. Celebrities like Sarah Jessica Parker have no trouble getting hand-me-down dresses for her kids, and you shouldn’t either. There aren’t any good reasons for spending more than you have to on any particular item, so you should limit your spending on them as much as possible.
Know your limits, and live within them
The silliest thing you could possibly do is purchase an item that you don’t really need with your credit card even though you know you don’t have the money to pay for it. Luxury isn’t everything, and peer pressure shouldn’t convince you otherwise. Living below your means is a great way to save up on money. Take Warren Buffet’s example on this: he bought his house back in the 1950s for a mere $30,000 and hasn’t bothered to move out from there ever since. Right now, he’s got enough money to purchase any residential property on earth – literally. However, he chooses not to, and that’s something that we can all learn from.
Purchase your items in bulk
If Mark Cuban can purchase his toothpaste in bulk, then so can you. Understand that Mark wouldn’t feel any difference in his wealth if he were to purchase his toothpaste one tube at a time, but the mindset that he’s got, which applies to even the most basic and mundane necessities in his life, is what makes the difference. You also need to incorporate such thinking into your daily life so that you can start saving money.
Don’t spend more than you have to on a car
If Mark Zuckerberg can drive around in a Volkswagen GTI, everyone can. You don’t have to make purchasing a Lamborghini your life goal. Simply purchase a vehicle that can keep you travelling without causing you any trouble. Even Warren Buffet doesn’t have a very expensive car, which shows that having an expensive ride isn’t everything that it’s made out to be. Your car and house are likely going to be your main investments in life, so make sure you choose carefully and don’t overspend on them.
Don’t pay for business class flights
If you have a high paying job, you might be tempted to take the jump and fly in business, or even first class flights. However, you shouldn’t be doing anything as such, seeing that even the person who founded the furniture company, IKEA, would rather fly economy class flights. There’s no reason whatsoever to spend extra money on a flight that won’t last more than a day, and Ingvar Kamprad figured that out. According to him, just because you can do something doesn’t mean that you should.
Use coupons as often as possible
Coupons don’t make you look poor, and you shouldn’t pay attention to anyone who thinks as much. If Kristen Bell has no problem saving money due to coupons, no one else should either. She isn’t the only celebrity who uses them either, so drop any prejudice you have against them and save a good amount of money on special discounts which will ease your life in the long run.
This doesn’t mean that you have to start living as a miser just so that you can save up on money. Ensure that you and your family lives a fulfilling life, but also keep in mind that if you can save money on a particular service or item without having to sacrifice your living standards, then there’s no harm in going the extra mile for them.
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