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Money-saving secrets from the world's wealthiest people

Sage financial advice courtesy of the thrifty-rich
David Cheriton – if you can't justify a purchase to your parents, don't buy it
David Cheriton – if you can't justify a purchase to your parents, don't buy it
Warren Buffett – small sums compound, so invest every penny you can
Warren Buffett – small sums compound, so invest every penny you can
Mark Zuckerberg – don't waste money on expensive designer gear
Mark Zuckerberg – don't waste money on expensive designer gear
Michael Bloomberg – pay yourself a small salary and top it up with dividends
Michael Bloomberg – pay yourself a small salary and top it up with dividends
Ingvar Kamprad – save cash by sourcing second-hand goods
Ingvar Kamprad – save cash by sourcing second-hand goods
Azim Premji – waste not, want not
Azim Premji – waste not, want not
Sergey Brin – always be on the lookout for ways to save money
Sergey Brin – always be on the lookout for ways to save money
Amancio Ortega – making financial sacrifices pays off in the long-run
Amancio Ortega – making financial sacrifices pays off in the long-run
Frederik Meijer – forget first or business class and fly economy
Frederik Meijer – forget first or business class and fly economy
John Caudwell – spending money extravagantly will not gain you self worth
John Caudwell – spending money extravagantly will not gain you self worth
Chuck Feeney – use public transport when you can
Chuck Feeney – use public transport when you can
Jack Ma – to save money, keep it simple
Jack Ma – Jack Ma – to save money, keep it simple
Jim Walton – drive a sensible, affordable car
Jim Walton – drive a sensible, affordable car
Charlie Ergen – save a small fortune by packing your lunch
Charlie Ergen – save a small fortune by packing your lunch
Manuel Villar – put all the money you can into your business
Manuel Villar – put all the money you can into your business
Carlos Slim – always attempt to negotiate a discount
Carlos Slim – always attempt to negotiate a discount
T. Boone Pickens – buy what you need, not what you want
T. Boone Pickens – buy what you need, not what you want
Jay Leno – have numerous sources of income
Jay Leno – have numerous sources of income
Elon Musk – possessions weigh you down
Elon Musk – possessions weigh you down
John Bogle – downsizing when the time is right can save you a fortune
John Bogle – downsizing when the time is right can save you a fortune
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Thibault Camus/PA

Michael Bloomberg – pay yourself a small salary and top it up with dividends

Media magnate and former New York City mayor Michael Bloomberg didn't amass his $82 billion (£62.7bn) fortune by splashing the cash around. Known for his frugality, records show Bloomberg paid himself a paltry annual salary of between $5,000 and $20,000 (£4,000-£16,000) during the late 1990s.
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lovemoney staff

28 March 2022

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