Regardless of how much money I make, I don’t like spending it on things I don’t need. Plain and simple — I am frugal.

Even if I made $10M a year, I’d still eat street food, sleep in budget hotels, book the cheapest flights and take the metro over a taxi. I don’t ever see the need to spend crazy amounts of money on a fancy car or a giant house. I am frugal.

But please note that being “FRUGAL” is not the same as being “CHEAP.” Frugal means that I choose to prioritize my spending so I can have more of the things i love — like travel and golf. Cheap simply means that I’d be is afraid to spend money on anything, thinking everything is overpriced.

So as a frugal person, I will always tip generously if the service is good and I will happily spend a few extra dollars if it means I’ll be saving time.

Like Warren Buffett — the 3rd richest man in the world and someone I look up to — I plan to give away a significant amount of my future income to charities and/or organizations who could benefit from it more than me.

Does anyone else choose to live a frugal life? Or would you rather live in a giant mansion with a Ferrari in the garage? Comment below!