Is it good to be frugal

If you are someone who is counted among the millionaires, would you still be pinching pennies? Well, some of the celebrities do exactly that. You would be surprised to see some of their habits. But it is probably these habits that are actually keeping them wealthy.

Do not always give importance to buying – The oil tycoon, T. Boone Pickens was told by his grandmother never to go out with money in the pocket and not to buy unless really needed. Pickens has a celebnetworth of about a billion. That doesn’t mean that he is cheap; he just isn’t an impulsive shopper. That is something we need to follow too. If you want something, have a good look at it, understand whether you need it, decide which would be the best product and then buy. Do not go for false looks.


Alfred Morris, the Washington Redskins running back, has a contract worth $2.2 million. But have you seen his car? He drives a 1991 Mazda lovingly called the Bentley. He can easily afford the real one; but doesn’t feel the necessity.

Fashion and frugal? Can you be fashionable and yet frugal? Yes, some of top celebrities are known to be frugal when it comes to their dressing. They even wear economical dresses for special events. In fact they do not appreciate pricey designers. Penelope Cruz and Helen Hunt both turned up for the Oscars in H&M gowns and still managed to turn heads. Sharon Stone did that way back in 1996 with apparel from Gap. People tend to look down on apparel which is off the rack. But if celebrities like them can pull it off, why not you? All it takes is a little courage. After all it is your money and you are the one who has to look after it.

If you want to have a more detailed idea about celebrity investment tactics have a look at