MORNING BOOST Today were talking something we all have but believe we need more of, were talking MONEY. There are plenty of billionaires in this world nowadays, but exactly how they got to that level of financial comfort may surprise you. They are not all the flashy, big spenders we see on many Hollywood tv specials. In fact, many of them attribute their success to living quite frugally. Here are some of the best MONEY saving tips from some of the world’s most wealthy people. 1) Michael Bloomberg: Net Worth: $34.3 Billion Stick with what works best for you. Michael Bloomberg is well known as one of the most controversial mayors of New York City, and majority share holder of Bloomberg L.P., an international financial information company. But one thing most people don’t know about Mayor Bloomberg is the fact that for the past 10 years he has only owned two pairs of work shoes. They are both black loafers, and provide the most comfort and functionality for the billionaire. He knows that they are what works best for him and chooses to save his MONEY for other things rather than spend a small fortune on shoes that he will never really wear. 2) Bill Gates: Net Worth: $79 Billion Learn from your past mistakes. Making mistakes with MONEY is a common occurrence in life. We all do it, but those of us who ultimately achieve financial success in life not only make those mistakes, but more importantly, they learn from them. Bill Gates, well known as one of the richest people in the world once said, “It’s fine to celebrate success, but it is more important to heed the lessons of failure.” 3) Ingvar Kamprad: Net Worth: $53 Billion Avoid unnecessary spending. Ingvar Kamprad, founder of IKEA, believes that some spending is just not needed even if you do have plenty of funds to blow. Like many other super wealthy individuals, he prefers to fly economy class rather than in a private jet. In his memoir, Kamprad wrote: “We don’t need flashy cars, impressive titles, uniforms or other status symbols. We rely on our STRENGTH and our will!” 4) Warren Buffet: Net Worth: $66.1 Billion BUY a home that FITS your needs. Warren Buffet is the classic example of this rule. He still lives in the Omaha, Nebraska home that he bought in 1958 for a mere $31,500. Despite having billions of dollars at his disposal, Buffet finds no reason to live in an enormous mansion just because he can. Instead he is comfortable in his modest 5 bedroom stucco house located in the heart of our nation. 5) Oprah Winfrey: Net Worth: $2.9 Billion Find your true passion. This simple tip has paid off big time for Oprah. She has been quoted as saying, “You become what you believe. You are where you are today in your life based on everything you have believed.” Figuring out what you love to do, and then pursuing it with everything you’ve got will often result in the greatest of life’s rewards. 6) Richard Branson: Net Worth: $5.1 Billion Set goals and do everything in your power to reach them. British Billionaire and founder of the Virgin Group, Richard Branson once started out with just a list of goals. They weren’t even the most realistic ones, but he set those goals and went for them. Little did he know what his goal setting could one day achieve. 7) Carlos Slim Helú: Net Worth: $78.5 Billion Start saving your MONEY early. Carlos Slim, a Mexican businessman who was recently edged out by Bill Gates as the richest man in the world, offers one of the most important tips when it comes to enjoying financial success. Start saving your earnings as early as possible. The sooner you start saving your MONEY and managing it properly, the better off you will be later in life no matter what kind of work you do. 8) John Caudwell: Net Worth: $2.6 Billion Use alternate modes of transportation. This English businessman has made his fortune in the mobile phone industry, but that doesn’t mean he finds it necessary to drive around in a flashy car and show off his wealth. In fact, he still enjoys walking, riding his bike and even using public transportation to get from here to there. 9) David Cheriton: Net Worth: $1.7 Billion Learn what you can do yourself. David Cheriton was one of the first investors in Google and enjoys quite a nice return on his initial $100,000 investment made in 1998. Yet he refuses to go to a barber and cuts his own hair. Even this seemingly small savings can add up especially when you adopt it to other areas of your life. Just think of how much money you could be giving other people to do things that you are perfectly capable of doing yourself. 10) Mark Zuckerberg: Net Worth: $30 Billion Drive a modest car. Even the founder of Facebook lives frugally in many ways. One of which is the fact that he drives a modest, $30,000 Acura, entry-level sedan. He could have any car he wanted to drive him from here to there, or a fleet of them for that matter, but instead he chooses this simple and practical vehicle. ----- Life Hacks
Posted on: Sat, 20 Sep 2014 05:14:57 +0000
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