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How Do Millionaires Save?

I'm Asking: What Do You Skimp On?

Turns out, millionaires can be cheapskates, too. Edward Wedbush, CEO of Wedbush Inc., a billion-dollar investment firm, is apparently a scrooge. In fact, one of his employees even called him the "cheapest man alive." According to the Los Angeles Times, although Wedbush has a net worth of over hundreds of millions, he still penny pinches by bringing his lunch to work every day, repairing the office carpet with duct tape, collecting paper clips after company meetings to reuse them, and the list goes on.

A lot of you took my penny pincher quiz, and the results showed that SavvySugar readers are savvy about their money, but not to the point of penny pinching. I definitely didn't cover all the ways people skimp on things, so I'm asking: what do you do to save a little money here and there?

Image Source: Thinkstock
Join The Conversation
lilkimbo lilkimbo 6 years
I generally bring my lunch to work. My work also has a Keurig machine and a fridge stocked with soda, juice, etc. so I never buy a drink, even when I don't have food at home and have to buy a sandwich or salad for lunch. Recently, I'm switched to a mix of drug store and specialty/department store brands of make-up, whereas I used to use all specialty store brands. I also tend to shop at Filene's Basement, Marshall's, Nordstrom Rack, etc. a lot. When I shop at Kohl's, Express, etc. I always try to wait for a coupon or "bucks back." There are a lot of little ways I try to pinch pennies, I guess. Eating out is the one area in which I almost always splurge. I eat out 2-3 times a weekend and those are my splurge meals as far as calories and money.
Lovely_1 Lovely_1 6 years
kimmieb124 I am with you on that too. I make my coffee at work and usually eat lunch in. Unless it's a special work thing I always eat lunch @ work.
kimmieb124 kimmieb124 6 years
I make my own coffee at home (with Starbucks beans!) and bring my lunch from home every day. I do eat out fairly often after work, so I could probably cut back on that as well to save even more.
amytnguyen amytnguyen 6 years
make your own coffee instead of resorting to starbucks! that's saving 4 bucks a day!
Baconlover Baconlover 6 years
Hey it's his company, if you don't like don't have to work there...
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