Live Below Your Means
Although Mark Zuckerberg can certainly afford to buy his own home years ago, he has only recently made the move to become a homeowner. Although his house costs $7 million, the price tag is incomparable to his net worth, which is estimated to be $17.5 billion by Forbes. That makes the house valued at 0.04 percent of how much Mark is worth.
To put things into perspective on what that means for the average person, I'm going to use the networth of our personal finance blogger buddy (which he publishes regularly), Budgets Are Sexy, as an example. His current networth is calculated to be $309,002.70. If he were following Mark's example, he would only be able to buy a house that costs $123.60.
Mark is definitely living well below his means, and it's a lesson that all of us — billionaire or no billionaire — needs to learn.