Millionaires Share Money-Saving Strategies Including Buffett's Advice

Warren Buffett, renowned investor and philanthropist, offers several key financial lessons particularly aimed at middle-class earners. He emphasizes "paying yourself first," meaning prioritizing savings and investments before spending, and recommends consistent investment in low-cost S&P 500 index funds to build wealth steadily over time. Buffett advises living below one's means by identifying and cutting wasteful expenses, avoiding consumer debt, and choosing investments in understandable businesses with stable, growing earnings. Additionally, Buffett suggests parents should involve their children in estate planning by letting them read and understand their will beforehand to prevent confusion and family disputes. This transparency can foster stronger family relationships and clarify the rationale behind inheritance decisions. Other money-saving strategies observed among millionaires include intentionally avoiding luxury expenses like expensive cars and leveraging credit card rewards to maximize travel benefits without overspending.