Did you know that Lee Iacocca, the auto guru best known for the development of the Ford Mustang and later digging Chrysler out of the ditch, uses coupons?

Being worth approximately $100 million, you wouldn’t think coupons would enter his mind.

But apparently, his long-time housekeeper takes great care in clipping coupons for some of the local businesses that he frequents, and he feels guilty letting her efforts go to waste.

In fact, many of the super rich have some often peculiar and frugal habits.

Mitt Romney buys his golf clubs at Wal-Mart!

(Although perhaps that says more about his love of the game than his purchasing acumen.)

My point?

Becoming wealthy and staying that way takes a certain level of discipline.

An occasional splurge won’t put you in the poor house, but frequent frivolous spending can quickly erode your net worth.

What’s your favourite frugality?

Dan Cuprill, CFP®

P.S. If you want to make sure you’re not forced into Wal-Mart clubs in retirement, click here to get 15 minutes on my calendar.