FRUGALITY IS A BLESSING! TRUST ME!
Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.
FRUGALITY IS A BLESSING! TRUST ME!

With a Net-Worth Exceeding $100 Billion, Warren Buffett is surprisingly frugal. If Mr. Buffett is economical- GOOD ENOUGH FOR ME!
WARREN BUFFETT’S WEALTH-BUILDING HABITS!
BUY AN AFFORDABLE AND MODEST HOME – YOU DO NOT NEED TO BEAT YOUR BROTHER-IN-LAW!
“Buffett and his late first wife, Susan, brought their Omaha home in 1958 for $31,500. It’s a good size home with five bedrooms and 2.5 bathrooms. But a tiny home compared to what Entertainment Millionaires build and buy. This relatively modest house he chose back in the 1950s has always been home sweet home.”
Too many people buy these McMansions, which is a lot more space than needed. HINT: If you have more bathrooms than people living in the house, please explain the logic! We only have one behind! Also, buy a home you/family can afford in excellent and BAD (loss of income) times. Never EVER listen to your real estate agent tell you what you can afford. They get paid on commission. Only you can decide what you can afford with your savings objectives!
COUPONS OFFER GREAT SAVINGS!
If you look in my car, you will find several coupons. Warren Buffett generously offered to treat Bill Gates and his wife for a meal in Germany at one of his favorite restaurants, McDonald’s. He used coupons to reduce the cost. “The man values a good deal.” Mr. Buffett is known for buying companies and stocks when the price represents a good deal. He uses this same principle in his personal life.
CIGARETTES AND ALCOHOL – WASTE MONEY!
Buffett has never smoked or consumed alcohol. He considers both a waste of money and harmful for your health. He does drink Coca-Cola –EVERY DAY!
Years ago, my friend smoked two packs of cigarettes each day. Today the cost is ~$12/pack. So a two two-pack day smoker is spending about $8,760.00/year. If you invested this money in an S&P 500 ETF, averaging nine percent annual gains, at the end of 30 years, you would have ~$ 1,328,000.00. BY THE WAY – you add YEARS to your life expectancy

LOOK FOR DEALS
“Whether we’re talking about socks or stocks, Buffett likes buying quality at a discount!”

NEVER EVER GAMBLE – THE HOUSE ALWAYS WINS!
Buffett calls gambling a tax on the ignorant. I spent New Year’s Eve in Las Vegas to see a show. We stayed in the casino where the show was performed. I gambled zero dollars and therefore won a lot more than the “ignorant” people gambling. The House. Always Wins! Mr. Buffett “once bought a slot machine for his home and paid his kids their allowance in dimes, knowing they couldn’t resist the lure of the slots, and he’d have their allowance all back that same day.” After all, it was his house! Instead of gambling, research the best casinos and invest $100 each month in that stock. I GUARANTEE you will have bigger WINNINGS!
UPGRADE PRODUCTS ONLY WHEN NEEDED
I decided to buy Apple stock over 25 years ago when I saw people willing to spend the night sleeping on the street to buy the next-generation iPod or iPhone. “Buffett famously used a Nokia flip phone for years, although he’s since moved on to an iPhone. But his phone ownership history reveals a truth: Buffett’s not all about paying big money for the latest and greatest tech. “I don’t throw anything away until I’ve had it 20 or 25 years” Buffett also showed off a 20-year-old wallet.)
FANCY FOOD OFTEN TASTES THE SAME AS INEXPENSIVE FOOD
Every piece of food we consume is converted into biological waste. Buffett’s eating habits are modest. “I don’t like a $100 meal as well as a hamburger from McDonald’s. His daughter said: “Buffett regularly treats his grandchildren and great-grandchildren to monthly lunches, but not five-star steakhouses. They go to a (Berkshire-owned) Dairy Queen.”
NEVER GO INTO DEBT FOR A WEDDING!
I have been to many weddings (my wife’s fault) and cannot help but calculate the cost. {Come on, I’m an introverted nerd. I need entertainment! Plus, I’m a Dad of a daughter!} Some couples spend thousands upon thousands of dollars on a fancy wedding. That’s not for Buffett. “When he and his second wife, Astrid Menks, wed in 2006, it was in a brief ceremony at his daughter’s home. The New York Times reported that the ceremony took 15 minutes, followed by dinner at a casual seafood restaurant. Mr. Buffett’s daughter helped her dad pick out his new wife’s ring at an Omaha jewelry store owned by Berkshire Hathaway. Asked if Buffett received the employee discount on the purchase, his daughter told the Times, “I’m sure he did.”
REFERENCES: https://www.moneytalksnews.com/slideshows/frugal-living-tips-to-learn-from-warren-buffett/
BE YOUR OWN ANGEL’S ADVOCATE

Like anyone else, I like stuff! A few years ago, I wanted (not needed) a Tesla. The Tesla Model Y sells for about $70,000. I played my own Angel’s Advocate. No devils NEEDED at my age!
CONS- AGAINST BUYING THAT BEAUTIFUL TESLA
I only drive about 6,000 miles each year.
This new expensive car will sit in my garage 98% of the time- LOSING VALUE
The Cook County taxes are 10%, so that I would pay another $7,000 to those GREEDY PIGS
My car only had about 45,000 miles and drove just fine.
PROS – FOR BUYING THAT SEXY TESLA
It looks good!
Since I do not like to drive, the range is not an issue
It looks good!!
DECISION- NO TESLA! I left that $77,000 invested in Tesla stock. Happy I did!
Take the time to think of the pros and cons. Do I need that new iPhone? Do I need that expensive handbag? Do I need that new Canon RF lens? {Whoops- there I go again with my wants!}
CONCLUSION – FRUGALITY IS A BLESSING! TRUST ME!
Instead of trying to earn more, try to spend less. Always spend less than you earn, save, and invest the rest! When you start viewing the building of your wealth as powered by your frugality and efficiency, you gain control. Learn to be happy with less stuff (that ultimately ends up in a landfill), and you will automatically save more—and make your savings and investments increase! Past a certain income threshold, many people spend money to show off their wealth. Increase your humility, and instead of flaunting your wealth, save your money for a rainy day and give to those in need.
Having savings will give you flexibility security and buy you time. Having money in the bank allows you to consider your options and freely decide what to do with those 86,400 daily seconds!
It’s ok to splurge when you can afford it. Mr. Buffett did splurge on one item. He owns a private jet, as time is money! We must decide what adds value to our life and what we are willing to spend our HARD-EARNED MONEY ON.
If you ignore ALL the above frugal habits of Warren Buffett, you are wasting money. STOP IT! RIGHT NOW!!

LET’S MAKE SOME MONEY – CRYPTOCURRENCY IS ACCEPTED!
YOUR GREATNESS IS NOT WHAT YOU HAVE; IT’s WHAT YOU GIVE! – EXAMPLE CHARITIES I SUPPORT
St Jude Hospital: https://www.stjude.org/
Wounded Warrior Project: https://www.woundedwarriorproject.org
Folds of Honor: https://foldsofhonor.org
Wilson’s No-Kill Animal Shelter: https://wcnkas.org

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ABOUT ME
I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.
I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life. It is my time to serve and give back.
DISCLAIMER
I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and am happy to share my finance and investment lessons. I am NOT a licensed financial advisor. Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss.
Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.
I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.