Warren Buffett says “Don’t Overspend”

Millionaires and billionaires certainly have tons of disposable income to spend, but some of the richest folks on the planet don’t waste their money. Warren Buffett has an estimated net worth of $63 billion, but he still lives in a modest home in Omaha, Neb., which he bought for just $31,500. And his favorite food isn’t fine anything fancy or expensive — it’s a cheeseburger.

Another billionaire who doesn’t indulge in overspending is IKEA founder Ingvar Kamprad. The billionaire prefers to fly economy class rather than in a private jet, likes to eat Swedish meatballs at one of his stores rather than dine in a fancy restaurant, and takes packets of salt and pepper home from cafeterias. In his memoir, Kamprad wrote: “We don’t need flashy cars, impressive titles, uniforms or other status symbols. We rely on our strength and our will!”