I was gonna title today’s post “Would you still be frugal if you struck it rich?” but then realized that a) 99% of you would of course say yes – cuz that’s how we roll! – and then b)it would be direct rip off of my friend Kristina’s recent post on DINKS Finance titled pretty much the same thing ;)
And her post is what got me thinking about all the stuff I *WOULD* change if I were a billionaire myself, as I’m not even gonna try and pretend I’d keep everything as-is ;) Yeah I’d still be frugal in a lot of areas, but you can bet your sweet patukis I’d want to upgrade a few categories too and live a little! That’s the whole point of being financially free – you get to prioritize stuff however you damn please!
Before we get to my 5 upgrades I’d do though, here were some interesting tidbits Kristina shared on how other billionaires still live frugally in parts of their lives. I’d like to think I’d be similar:
- Warren Buffet (worth $46 billion) still lives in the same house he’s had for over 50 years now.
- Mark Zuckerberg (worth $9.4 billion) still wears t-shirts and hoodies and drives an Acura. (He’s probably the closest thing to how I’d act if I ever hit it rich – I love me some hoodies!!)
- Ingvar Kamprad (founder of IKEA, worth $3 billion) flies economy class and drives an old Volvo.
- Amancio Ortega (founder of the Zara clothing chain, worth $57.5 billion) still eats lunch every day in the office cafeteria with his employees. He also lives in an apartment with his wife.
It looks like she found these over on MSN’s list of “15 billionaires who live frugally” who got it from The Business Insider, who now you’ll get it from me, haha… This article sure gets around – what a slut! ;)
Anyways, when I hit billionaire status here are the 5 things you’ll definitely find me upgrading:
- My house. It’s no secret I’m not happy at my current residence, and once we find an area we prefer better we’ll be moving and starting a new adventure in our life. But wherever we end up in this world (I hear Thailand is nice? ;)) I’d love more than anything to have a really quality house close to walking distance to shops/cafes/bars/etc. It’s all about the location in my eyes, and unfortunately that tends to cost a pretty penny… You move our $300k house downtown and it automatically becomes a $1.3 million dollar house – it’s nuts. You’re paying for the location, and I’d imagine having billions of dollars can safely secure that.
- My car. As much as I love my pimp daddy Caddy, I can only revive her a certain more number of times :( And we’re looking into getting a bigger – more family oriented – one anyways, which a ton more money can fix no problemo. I’d grab a nice luxury SUV to hit up my yard sales and antique shops going forward, landing me even *more* junk in the trunk! (Bah-dum-ching)
- My clothes. Yeah, I’d still stick with my jeans and tees, and most importantly my hoodies, BUT but BUTTTT I’d pick up way better quality ones over the brands I have now which like to fall apart after all my heavy usage :( It would be nice to swap out my duds for better made ones that can keep up my
lazyrockin’ style even more ;)
- My charities. Not much explanation needed here – I’d just heavily increase the amounts I give out and probably start something of my own that helps “causes” more near and dear to my heart. Like direct-to-people help over masses of people, if that makes sense? I feel like a lot of families get looked over because they don’t fit perfectly into any one specific “area” of assistance which sucks.
- My dreams. I wouldn’t be able to sit here and keep working the way I am currently as I’d want to put my goals on steroids and do something MUCH MUCH bigger and far-reaching than I am now – not that I’d stop blogging here or anything. I’d just use my super money powers to get the word out even more and affect a wider amount of areas than I can now. I’d feel like I’d be squandering my passions/skills/time if I kept my dreams on the smaller side still, ya know? Not any people ever reach billionaire status so I’d feel like if I did I’d need to do something much larger with it.
We still have a few more years until I reach the billions, but so far that’s the plan ;) And maybe I’ll even do it when I hit the millions, who knows…. I’ll have to make a lot of crazy decisions then but I’m pretty excited about it! Haha… There’s nothing too crazy about that stuff up there anyways, though, right? I mean, I’d only be changing out a few things – after that I’d be laying low and in heaven…
How about you though? Could you honestly sit there and do the *exact* same thing as you are now? Wouldn’t you treat yourself to something finer in life, or take advantage of more opportunities now that you could? Either way there’s no right or wrong answers here, of course, but do help a brotha out and fuel his curiosity, will ya? ;) Long live the dream!
[Photo by Melly Allen]
Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!
If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!
What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!
PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.