Warren Buffett, fourth richest man in the world worth over $50 billion and donates $ 30 billion for charity lives in a 55 year old house that consists of just 5 bedrooms. Had he wanted, he could have lived in 20 bed roomed villa.
Is he a miser? Stingy?
No. He knows besides creating money, he knows how to avoid unnecessary extravagance . This prudence and frugality makes him richer by day even today.
It’s only who become rich by winning a lottery will throw their money ultimately reaching back to square No. 1

When I started this topic I thought of a live example of a very poor laborer in our town who had a small piece of land , a longish piece on which he had one room house which nobody would buy.But a couple of years ago the land was acquired by the corporation for widenig the road and he got a compensation of more than 3 lakh rupees for 4 cents of land . He and his family instead of investing in land or at least investing it, blew up the entire money in a matter of 3 months and now are back to square one, working on construction sites ...

When I started this topic I thought of a live example of a very poor laborer in our town who had a small piece of land , a longish piece on which he had one room house which nobody would buy.But a couple of years ago the land was acquired by the corporation for widenig the road and he got a compensation of more than 3 lakh rupees for 4 cents of land . He and his family instead of investing in land or at least investing it, blew up the entire money in a matter of 3 months and now are back to square one, working on construction sites ...

When I started this topic I thought of a live example of a very poor laborer in our town who had a small piece of land , a longish piece on which he had one room house which nobody would buy.But a couple of years ago the land was acquired by the corporation for widenig the road and he got a compensation of more than 3 lakh rupees for 4 cents of land . He and his family instead of investing in land or at least investing it, blew up the entire money in a matter of 3 months and now are back to square one, working on construction sites ...

@ rambabu
Those who are not aware of frugality will often ridicule a person as a Miser. And such people are destined to land in the garbage bins ultimately.

Such people never had money and when they get it they don't know what to do with it. There is a reason why a rich man gets richer. He know how money works. He will always buy assets first and reduce his liabilities.

When I started this topic I thought of a live example of a very poor laborer in our town who had a small piece of land , a longish piece on which he had one room house which nobody would buy.But a couple of years ago the land was acquired by the corporation for widenig the road and he got a compensation of more than 3 lakh rupees for 4 cents of land . He and his family instead of investing in land or at least investing it, blew up the entire money in a matter of 3 months and now are back to square one, working on construction sites ...

@ rambabu
Those who are not aware of frugality will often ridicule a person as a Miser. And such people are destined to land in the garbage bins ultimately.

Such people never had money and when they get it they don't know what to do with it. There is a reason why a rich man gets richer. He know how money works. He will always buy assets first and reduce his liabilities.

One need not be a miser but be balanced and learn how to manage money effectively so that it works for you. I agree that unless you respect money and take care you may be in the red most of the time cursing everybody else and your fate...