11 Incredible Lifestyle Facts of Warren Buffett

Everyone dreams of living the life of a billionaire one day. Despite following the success mantras of billionaires like making huge savings, investing smartly, paying off debts on time, attaining work-life balance, etc., not many people achieve that pinnacle in life. We assume that all billionaires love to splurge on luxuries, live in posh villas or bungalows, go on extended holidays and travel in their private jets.

But billionaires who have paved their path to success by undergoing series of struggles truly understand the value of money and life. One such billionaire is Warren Buffett, the third richest man on this planet who believes in simple living and high thinking. The investor is popularly known as the Wizard, Sage or Oracle of Omaha and is the Chairman and CEO of Berkshire Hathaway.

Apart from being an American business magnate, Warren Buffett is also a speaker and philanthropist with a net worth of US $84.9 billion. Warren Buffett is known to have interest in business and investment since his youth and is popular across the globe for adherence to value investing and frugal living despite owning exponential wealth.

Here are 11 incredible lifestyle facts of Warren Buffett which will inspire you to have that billionaire attitude and understand how leading simple life can realise your financial goals:

1. Warren Buffett Lives In The Same House Since 1958

Unlike most billionaires who live in luxury decked mansions, Buffett lives in the same old house in Omaha, Nebraska that he bought in 1958 for $31500. The house valued at $270000 in 2017 but Buffett has no plans to sell it and is not willing to trade it for anything ever. While he can afford to live in a bigger and better place, he feels homely at the place he currently resides.

If you want to live like Buffett, you must consider buying a home that falls below the budget you can afford. Instead of making huge EMI payments on regular basis, make this amount an integral part of your future savings. Few compromises at an early stage in your life will definitely set the momentum of living the Warren Buffett lifestyle.

2. Warren Buffett Invests In Used Cars

While most billionaires prefer riding in premium cars that cost them a fortune, Buffett is quite modest when it comes to buying cars. In a BBC documentary, his daughter, Susie Buffett said that her father preferred buying cars at reduced prices like cars damaged by hail. He would get them fixed and then would use them for years.

So the next time you want to buy a car, remember that cars depreciate quickly and if you want to have complete control on your finances, try to maintain your car and use well-working car for as long as possible. Or you can even invest in used cars which will also aid in saving your hard earned money.

3. Buffett Prefers Having Economical Breakfast options

Most people assume that billionaires have their breakfast and brunch at expensive restaurants or they have a personal chef to prepare any dish they just name. When it comes to food, Warren Buffett has a simple breakfast which is cheap too. He takes the fast food route to save money and he mostly kicks off his day by stopping at the McDonald’s.

While travelling, Buffett doesn’t opt for high cholesterol bacon and eggs served at a local restaurant. His travel food is quite cheap as it comprises of a pack of Oreos. His food choices resemble that of a 6 year old child as per Bill Gates. To back this fact, Buffett said in an interview that 6 year olds have the lowest death rate, due to which he is still stuck on gorging hamburgers, ice-creams and Coke.

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4. Buffett Doesn’t Find It Wise To Get Expensive Mobile Phones

While most of us would like show off expensive mobile phones, Warren Buffett, despite being a billionaire used a Nokia flip phone in the age of smartphones in the recent past. While it seems tempting to upgrade your mobile phone with a phone having latest technological specifications, you must consider your requirements and then buy a phone as per your feasibility. Moreover, you can save by choosing economical plans on calls and data.

5. Buffett Loves Indulging In Less Expensive Hobbies

If you intend live the Warren Buffett lifestyle, then you too must believe in working hard and playing harder. Everyone knows that billionaires too have hobbies and most of us assume that their hobbies are expensive. But not for Warren Buffett.

His hobbies are in fact, affordable. He loves to play bridge and is a self-proclaimed bridge addict. He plays the game about 12 hours a week. Moreover, during his free space, he loves playing ukulele and singing. He has played it several times for his investor friends and for charity events.

6. Buffett Doesn’t Like Spending On Designer Stuff

In an interview with CNN, Warren Buffett revealed that he carries the same black wallet that he carried 20 years ago. Instead of wearing high-end custom made suits, he exclusively wears suits created by China based sewing entrepreneur Madam Li.

Buffett implies that the suits created by Madam Li fits him perfectly and he gets compliments for it all the time. Therefore, for living the Warren Buffett lifestyle, you must believe in buying quality items that last long instead on splurging on stuff just because they carry a popular brand name.

7. Buffett Has Worked In The Same Office Premises For Last 50 Years

Since his joining at the Berkshire Hathaway in the 1960s, Warren Buffett has been working in the same office building. He claims that it is a different sort of place and the office had only 25 people since it was started and still has only 25 people. They don’t have a dedicated department to handle investor relations, public relations or a separate general counsel.

Buffett cherishes the old saying which implies that if nothing is broke, why make efforts to change it. If you are an entrepreneur, Buffett’s way of working will teach you the importance of efficient utilisation of manpower.

8. Buffett Believes In Treasuring Friendship More Than Money

Bill Gates and Warren Buffett cherish their friendship since a very long time and according to Gates what makes their friendship strong is that Warren goes out of the way to make people feel great about themselves. It is his lively and joyous attitude that makes him a thoughtful and kind friend.

Buffett believes in touching people’s life and emotionally connecting with them, which obviously need not be expensive. For example, whenever Gates is in town, Buffett personally picks him up at the airport and frequently sends mails that he thinks the Gates family would love. Such special touches have helped him earn true friends in life and people aspiring to live the Warren Buffett lifestyle must definitely take a note of it.

9. Buffett Knows Creative Ways To Save Money

While we gift ourselves some cheat days to splurge on luxuries, Warren Buffett is known to find creative ways to save money even after becoming a billionaire. A biography on Buffett was wrote by Roger Lowenstein, which mentioned that after the birth of the billionaire’s first child, Buffett turned a dresser drawer into sleeping space for the baby instead of purchasing a bassinet.

Also when his second child was welcomed, Buffett got a crib borrowed. Fully utilising existing resources and preventing unnecessary spending by using out of the box thinking talent is his forte.

10. Warren Buffett Saves Coupons, Just Like Me & You!!

While he loves living frugal, what extra-ordinary this billionaire does is saving money by using coupons. In an annual letter by Bill and Melinda Gates in 2017, Bill mentioned that he took a trip with Buffett and during a fast-food lunch, Buffett made the payment using coupons.

While they still have a good laugh about it, we get to learn that Warren Buffett valued a good deal and this is how every aspiring billionaire must learn to save money even on inexpensive stuff.

11. Buffett Prioritises Relationships Over Material Things

During a Q & A session with a bunch of business school students in 2009, Warren Buffett stated that no one can buy either health or love. This is why instead of playing golf in the fanciest golf course across the world, he loves to play golf in his city with the people he cares about. Making people envious of his belongings is not his goal.

Even his daughter, Susie Buffett said in an interview with People in 2017 that he doesn’t care about having bunch of money, instead he focuses on his family and he is so involved with his family that he is always aware of what is happening in each of his family member’s lives.

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