7 Money Saving Tips From Billionaires Who Do It Best

Michael Bloomberg

Michael Bloomberg

One of the more controversial mayors of NYC, Bloomberg is also the majority share holder of Bloomberg L.P., a major international financial information company. Despite having more than 30 billion in personal wealth, Bloomberg reckons that you should keep the cash you woud spend on things you might not use, and only use what works for you. Example? He is said to have only two pairs of work shoes over the past ten years. Clearly he could afford as many pairs of shoes as he wanted, but he only wants two - so why have more?

Ingvar Kamprad

Ingvar Kamprad

If you haven't heard of this guy exactly, let me tell you that you have most definitely heard of his company. He's the founder of IKEA and, despite having about US$53 billion to his name, he choses to use his cash frugally. Kamprad is reported to fly economy class when he could really afford his own private jet. In his memoir, he wrote in reference to not spending big; "We don't need flashy cars, impressive titles, uniforms or other status symbols. We rely on our strength and our will!"



Mark Zuckerberg

Mark Zuckerberg

There's no doubt you have heard of this guy. The founder of Facebook is extremely famous for having bucketloads of cash, and yet he is also known for the fact that he doesn't realy splash out with his money. An example is his vehicle. I mean, he could afford absolutely any car in the world. His choice? A $30k Acura sedan....

Li Ka-shing

Li Ka-shing

You might suggest that with a name like this he couldn't be anything else but wealthy, but he isn't one to live as though he is. He has a huge company which spans 52 countries and has amassed a fortune in excess of US$30 billion, but he attributes his success to remaining humble and living frugally.



Oprah Winfrey

Oprah Winfrey

There are aliens in far-away solar systems who have heard of Oprah WInfrey and so she needs no introduction. Neither does her $3 billion dollars (or there abouts). She attributes success to finding your passion and chasing it.

"You become what you believe.," she was once quoted as saying. "You are where you are today in your life based on everything you have believed. Figuring out what you love to do, and then pursuing it with everything you've got will often result in the greatest of life's rewards".

Warren Buffett

Warren Buffett

Warren Buffett has about US$66 billion to his name - a staggeringly huge amount of money. But he lives as though he has far, far less than that. In fact, he still lives in the Omaha, Nebraska home he bought for $31,500 in 1958. Of course, today that is worth more than it was then, but still below $300,000, which is way less than what he could afford if he wanted bigger.



Bill Gates

Bill Gates

Often the world's richest man, Bill Gates must have a secret or two to offer us when it comes to money. His advice is quite simple, really. Bill reckons that it is great to celebrate your success but learning form your failures is far more important.