5 Common Frugal Habits of the Rich and Famous

Although there are a lot of us who secretly wish that we could be either rich, famous or both, we might be surprised by the fact that while our bank account may not reflect that way of life, there are certain frugal habits that wealthy people have that we easily can incorporate into our own lives; ones that, perhaps if we did them more, we actually could end up with a bit more money than we’ve currently got!

If you’re interested in knowing about some of the frugal habits of the rich and famous, we’ve got five interesting ones for you to check out below:

Clips coupons. If you’re someone who has been a bit hesitant about clipping coupons, maybe you’ll change your mind when you find out how many celebrities do it. According to several published articles, there are a lot of famous people who enjoy using print coupons and promo codes too. Some of them include Carrie Underwood, Hillary Swank and even Lady Gaga.

Avoids flashy cars. Several years ago, Chris Rock did a special on MTV. While they were interviewing him, he was driving around in his old Altima. It’s not uncommon for famous people to drive old or used cars rather than new or luxury vehicles. Many of them know that cars depreciate as soon as they drive off of the lot. Therefore, it makes more sense to invest in land rather than vehicles.

Lives in a modest home. Here’s something that really make shock you. Warren Buffet, one of the richest businessmen in America, still lives in a home that he purchased years ago. In fact, although he is currently a billionaire, he continues to stay in a house that he purchased back in 1958 that reportedly cost him a mere $31,500 at the time. Yes, that might seem a bit odd but at the same time, it’s probably that kind of financial thinking that helped to make him a billionaire in the first place!

Doesn’t buy a lot of clothes. Two celebrities who proudly admit that they don’t do a lot of splurging on clothes is Tyra Banks and Zooey Deschanel. And although they do like to make a dollar stretch, there is a deeper reason for why new articles of clothing are not a top priority. One thing that designers tend to do is offer free clothes to different celebrities, especially during highly-televised events or awards season. The reason why is because they know that literally thousands if not millions of individuals will be watching certain shows. So, if a celebrity looks amazing in their outfit, viewers will want to buy it. It’s basically free marketing for designers and a great way for many celebrities to fill up their closets too.

Uses cash. If a rich or famous person wanted to get something from Bed, Bath and Beyond, they may or may not use a Bed Bath and Beyond coupon. However, there’s a pretty good chance that what they will do is purchase their item in cash. Even wealthy and well-known people know that credit cards come with interest and since they have more money than most of us, buying things with cash makes sense. Plus, it helps to keep them out of debt. It’s definitely the best frugal habit that we can adopt from them.

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