16 Rules That Oprah, Mark Cuban, Beyoncé and Other Millionaires Swear By

Gabrielle Olya   Tue, June 27, 2023

Being a millionaire or billionaire -- especially a self-made one -- usually requires being disciplined about saving and spending, as well as investing wisely. Although the super-rich can splurge on lavish vacations and fancy cars, some eschew a luxurious lifestyle for one that allows them to maintain their wealth over the long term.

So, if you want to live like a millionaire yourself, you'll have to follow the money rules of the wealthy.

Kristen Bell: Take Advantage of Coupons When Shopping  Net worth: $40 million

"Frozen" star Kristen Bell still clips coupons despite her multi-million-dollar wealth.

"I almost exclusively shop with coupons," she said on "Conan," sharing that her personal favorite place to shop with coupons is Bed Bath & Beyond. "It's the best one because they've got 20% off, and if you go and buy a duvet or an air conditioner or whatever, you could be saving upwards of $80."

Sara Blakely: Create and Maintain a Nest Egg  Net worth: $1 billion

Spanx founder Sara Blakely kept her day job while starting her shapewear company to make sure she'd be able to maintain a healthy nest egg.

"It's really important to save money and create a nest egg, become comfortable for yourself with what the nest egg is, and don't touch it," she told Business Insider. "Leave it there. I always had a portion of my paycheck put into savings, and that was an easy automatic way ... I didn't quit my job until I'd already landed Neiman Marcus and Saks Fifth Avenue. I was so careful, I [worked on Spanx] at night and on the weekends because I didn't not want to have income coming in."

Warren Buffett: Think of Investing as a Long-Term Strategy  Net worth: $110 billion

Billionaire investor Warren Buffett isn't a proponent of active stock trading.

"When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever," he wrote in his 1988 Berkshire Hathaway shareholders letter. "We are just the opposite of those who hurry to sell and book profits when companies perform well."

Grant Cardone: Save $100K and Invest the Rest  Net worth: $600 million

Grant Cardone is a self-made millionaire, author and sales training expert. He recommends hitting a lofty savings goal -- $100,000 -- and then investing any money earned after you hit that amount.

"You need to prove to yourself that you can go out and get money," he wrote in a 2018 post for CNBC. "Saving $100,000 shows that you have an ability to make money and then to keep it. Most people can't do either of those things. Once you can earn and save, then you can start building wealth."

Mark Cuban: Don't Live Beyond Your Means, Even If That Means Living Like a Student  Net worth: $5 billion

Investor and "Shark Tank" star Mark Cuban believes that overspending can be an unnecessary cause of stress, and he advocates for living like a student if that's all you can truly afford.

"Your biggest enemies are your bills," Cuban wrote in a 2009 blog post. "The more you owe, the more you stress. The more you stress over bills, the more difficult it is to focus on your goals. The cheaper you can live, the greater your options."

Bethenny Frankel: Stay Out of the Red  Net worth: $80 million

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/16-money-rules-millionaires-swear-171052150.html