Great article in Forbes about the frugal habits of Warren Buffet whom many admire as a great investor. Here's another side of 'The Oracle of Omaha.'
Kids- Mr. Buffet used a dresser drawer for his baby's first bed. You don't need to buy new everything at full price because your baby 'deserves it. Buffet borrowed a crib for his second child to use. We don't all think like that, especially when we are young. We sometimes have attitudes that don';t match our financial reality.
Food- Early in his career, Buffet, who was signing up clients with large agragate assets, called a friend to have a six-pack of soda brought over so Warren didn't have to use room service and pay the inflated rates for food. You can save by bringing lunch to work, shopping for foods on sale, maybe even becoming more expert at couponing.
Transportation- Warren Buffet drove a Volkswagen for years until his wife urged him to upgrade vehicles for his image. You can have nice cars and travel well, but if you ant to be frugal, find a cheap way to have that car or to travel.
According to one Buffet quote he 'works his way up to cheap.' Warren buffet is a billionaire and according to the most recent Forbes Richest list buffet is #3 in the world.
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Marion Syversen, MBA
NorumbegaFinancial
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Marion@NorumbegaFinancial.com
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