Did it ever make you curious why in almost every picture Mark Zuckerberg is always sporting grey t-shirt and blue jeans? Dude can certainly afford fancy clothes, doesn’t he?
Or did it ever make you cringe seeing a mere $10 watch on the wrist of Bill Gates, the guy who literally changed the world for good. The dude can own almost any branded watch company in the blink of an eye.
One of my favorite websites, Dollar Street, imagines a world where everyone lives on the same street and the houses are ordered by income. The more time you spend on the website, the clearer it becomes that all of us have the same basic wants and needs. Take toothbrushing as an example. The families at the poorest end of the street use their fingers or sticks to clean their teeth. But once you reach a certain income level, everyone starts using a plastic toothbrush with bristles.
Or why can’t Warren buffet buy a new house? Why does he live in a sixty year old house ? He can certainly own multiple islands.
These people with gigantic bank balances can afford any kind of lavish lifestyle, they can splurge money 24/7 and still, they won’t run out of money in their lifetimes. Then why is it that these multi-billionaires have these penny-pinching habits and choose not to waste their money?
Charles A. Jaffe once said:
“It’s not your salary that makes you rich, it’s your spending habits.”