While the general public perception is that all self-made billionaires have an exuberant lifestyle that they flaunt frequently on their Instagram stories and Snapchat videos, but that’s just one side of the story.
There is a fine line that divides the celebrities from inventors and innovators. Public figures like Tom Cruise and Drake must maintain a public image, but on the opposite side of the spectrum, you have professionals like Bill Gates and Mark Zuckerberg who are often found in simple attires, leading normal lives.
There’s a difference between being frugal and being miser, the latter has a negative connotation of hoarding wealth while the former is focused on minimalistic life practices.
These tips and tricks used by eminent public figures that you adulate will change your life:
• Focusing on Needs, Not on Desires
Every economic class commences with the fundamental argument about what are needs and how are they different from wants. If I am hungry, there’s an unfulfilled need that requires to be satiated, but choosing a pizza over a loaf of simple available bread forms a cluster of my desires. Going back to square one, needs are limited and can be satisfied while wants are unlimited.
Warren Buffet still resides in his residence that he purchased back in 1958 for $31,500. Enjoying the smallest of blissful moments in life and decluttering your space from excessive materials is the ultimate key to a healthy life. Despite being on the list of World’s Richest Billionaires for consecutive years, Bill Gates uses a $10 wristwatch to check time, rather than parading at Microsoft headquarters with a Rolex.
Understand your emotional tendencies and try to get hold of them before they get hold of you. Invest in things that maximize the value addition in your life.
• Identifying Opportunities to Save
We can save money by ensuring that our willingness to buy on the whim of our impulse is under control when we stroll through the aisles of a lavish shopping store. Even celebrities like Carmelo Anthony and Kristen Bell take pride in using discount coupons for availing the best deals.
Roaso coupons are popularly known for offering excessive discounts and providing amazing deals that are pocket-friendly. It is imperative to continuously look for discount vouchers and coupons that can save substantial amounts of money.
• Quality Over Quantity
Entrepreneurs often spend a massive chunk of their incomes on commodities that are likely to expand their knowledge base or increase their standards of living. Bill Gates spent a lot of time reading books, so his major proportion of earnings is dedicated to buying books.
This point of quality over quantity encapsulates one more point, people usually go for large volumes rather than high-quality products. A single purchase of a branded shirt might be more valuable in the long run due to its cloth quality rather than several low-quality Walmart T-shirts.
Time is precious, you can not visit stores frequently and buy new cheap shirts often, it makes sense to buy a single shirt that can last long.
Quality over quantity, let your guiding rule be not how much, but how good.