Hacker News Reader

I've heard that a lot of billionaires are extremely frugal. They'll do things like drive three hours to save a couple hundred bucks on a new car. Apparently because they get solicited for money all the time, a lot of them get very paranoid about being taken advantage of.

View on HN

That's a good idea if your time is worthless. "Penny-wise and pound-foolish"

It's not really to save money though. It's more like after getting dozens of emails a day begging for money, some percentage just develop a complex and have trouble trusting others.

If it had to do with emails, then this wouldn't just apply to rich people, it would apply to everyone with an email account. Have you never seen spam?

I've already got one of those, and I'm nowhere near rich...

See the "Millionaire Next Door" for an elaboration on this. That or another one of the books in the series has a long chapter on automobile purchasing habits.

Reply on news.ycombinator.com