The Joy of Frugality
27th March 2006
One of the things I’ve learned about millionaires is that they’re often frugal. It seems to fly in the face of what people typically think of when they think of a millionaire - yachts, limos and mansions. But the fact is, people become wealthy by living on less than they earn, and that means the f-word - Frugality.
One living example of this is Ingvar Kamprad, the founder of IKEA. Yahoo! News just ran a story on him and his frugal lifestye. He writes on both sides of a sheet of paper, drives a 15 year old car and has his own IKEA furniture in his home.
But why would a man at age 80 live like that? At this point he could be in Vegas, living large. He still has plans to enlarge his business and uses cash to build it. It’s an amazing story and an inspiration to me. If a billionaire can live on less, so can I.
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