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Showing posts from March, 2013

Take Note of These 5 Frugal Habits of the Rich

A fat salary isn't the only way someone can strike it rich. Regardless of one's income level, people who live below their means, invest wisely, and live modestly are on the path to real wealth. Here are five frugal habits that many of the upper class have adopted to build long-lasting wealth and financial independence: Drive a modest car.Your car should only serve the purpose of getting you safely and comfortably from point A to point B--nothing more. When you pull up to a stoplight in an expensive car, you might impress a stranger. However, don't let the price tag of your car define your character or image, because at the end of the day most people could care less what type of car you drive. Let Facebook founder Mark Zuckerberg, who drives a modest $30,000 Acura TSX entry-level sedan, be your role model on this one. Buy a modest house.Warren Buffett famously still lives in the Omaha, Neb., home he bought back in 1958 for $31,500. Take Buffett's cue and don't overwh…