The Frugal Billionaire

wealthymatters As you make a little money,much of the world expects you to signal it by upping your lifestyle.In fact a lot of people won’t believe your worth their time or consideration unless you are sporting the right clothes,accessories,car,putting up at the right hotel etc.etc.

Azim Premji is known for his simplicity and modest living. He is a great role model for people who don’t like waste.He is a good example to point out to people egging you on to “invest” in a lifestyle.

He prefers to fly economy class and owns a Honda city. Recently, Premji’s senior executives and well-wishers advised him that it is time for an upgrade as the Honda was old. He traded his modest Toyota car for a Mercedes Benz but a second-hand one from one of his employees. Besides, he also travels in autorickshaws, public buses or prefers to walk, ignores extravagant hotels and always stays at the company guesthouse, and takes food from the company canteen,believing that what is good for his employees is good enough for him.He is watchful about saving money wherever possible, switching off lights when not needed and even regulating the number of toilet rolls used.

We can’t expect the world to deal with us the way they would with a billionaire,but at the same time there is no need to go overboard with the lifestyle expenses.The art is in spending where we must,so that our business is not affected and that we don’t miss out on opportunities for growth,but at the same time curtailing personal expenses that add no real value to our lives.

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Azim Premji On Higher Taxes For The Rich

weathymatters“In principle,how can you say rich people shouldn’t pay more taxes ? You have to be fair in a country with this kind of poverty.And I think the rich people are bringing it upon them with their conspicuous consumption,which has reached a state of absurdity.” – Azim Premji

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