Wealthy Frugal People

**Shell** · 09-05-2004, 06:20 PM

Just to let you know, there are lots of well-to-do wealthy people out there who are frugal. Just cause they are rich doesn't mean they are stupid!

Read on:

http://www.freep.com/money/business/...5_20000705.htm

**kaykwilts** · 09-05-2004, 06:58 PM

I know it's true that a lot of wealthy people are frugal. I used to go to church with a lady who taught school at a private school where a lot of wealthy kids went. She told me that they wore yard sale clothes and that's why the parents were wealthy. This was a school in Nashville, Tennessee and she said a lot of country music stars sent their children there.

**Goodwin17** · 09-05-2004, 08:21 PM

Sam Walton was known to be frugal too. I remember hearing once he used to drive an old farm truck everywhere. My stepfather has become fairly wealthy in his life by being frugal. I used to laugh as a teenager when he'd buy the Wal-Mart brand of food. I didn't understand at the time. I totally do now.

**kimmee** · 09-05-2004, 08:32 PM

This is just my opinion but... the wealthy people I have known and know of always seem to keep it all to themselves - I want to be able to help others with the benefits of my labors (be it saving, couponing, making it at home, or making due). It is killing me that we are so far away from the devestation in Florida. I know alot of you are the same way. There needs to be some sort of happy medium of acceptible frugality/ simple living and still a sense of community (Lets all get by!!) rather than how do the rich get richer...

**PrairieRose** · 09-06-2004, 05:20 PM

Great article Shell. I highly recommend the book "The Millionaire Next Door" it's full of that sort of thing. It's really sort of surprising.

**canadian gardener** · 09-06-2004, 06:35 PM

the Canadian version of the Readers Digest had an article on this lady http://www.ecwpress.com/books/stopwork.htm

and the gist of it, was she got rich thru extreme frugality, combined with some shrewd investing, and some common sense.

Which is how many a rich person gets there. People are always Most rich people who stay that way are pretty tight fisted from what I've read.

Now their kids and grandkids might blow it all away but the ones who build wealth are usually more self controlled and frugal, and less likely to be tempted to spend.