You may have shook your head when you first read this title. However, hear me out and continue reading to learn more about the habits of millionaires! The rich are rich for a reason- most of them know how to manage their money correctly.
Sure, there are stories about rich people who spend their money like crazy and end up in bankruptcy.
But, surprisingly, the average millionaire is frugal, and they know how to manage their money well.
Here are some examples of millionaires and billionaires who are frugal:
- Warren Buffett lives in a house that he bought in 1958 for around $30,000.
- Mark Zuckerberg drives an Acura.
- John Caudwell (worth $2.7 billion) rides his bike 14 miles to work every day and even cuts his own hair.
- Jim C. Walton (son of Walmart founder) drives an old truck with no air conditioning.