Make your own muffins instead of buying one on the way to work. Here are 40 relatively painless (or even pleasurable) ways to be fabulously frugal.ġ. So in the spirit of Warren Buffett, look for ways to cut your spending this year. If that's more math than you'd like to do, look at it this way: every penny that you don't spend unnecessarily leaves more money to invest for the future or allocate to something you might enjoy more-like your next vacation.īy example, Buffett has demonstrated that being thrifty isn't just for poor folks. Whether investing in companies or buying everyday necessities, the Berkshire Hathaway Chairman and CEO (currently #3 on the Forbes Billionaires list) has been driven by the notion that small sums compound. Buffett, he writes, once said about himself that he was “working way up to cheap.” Roger Lowenstein recounts these and other examples of Buffett's personal spending habits in his biography Buffett: The Making of an American Capitalist. He drove a Volkswagen until his wife decided it was bad for his image and upgraded him to a Cadillac. While in New York signing up clients to invest six-figure sums with him during the 1960s, he reportedly phoned a friend from New York's Plaza Hotel to bring over a six-pack of Pepsi so he wouldn't have to pay for room service. When his first child was born, the famously frugal Buffett turned a dresser drawer into a bassinet.
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