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Kiplinger: Frugal Habits of the Super Rich

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Mitt Romney

Age: 65

Estimated net worth: Ranges between $190 and $250 million

How he struck it rich: Comes from a wealthy family and co-founded the private equity firm Bain Capital

Frugal habit: Buys golf clubs at Kmart

The GOP presidential candidate has quite a few surprising, budget-conscious spending habits -- several of which were revealed in a "New York Times" article last year. They include using JetBlue to snag cheap airfare, tackling home renovations himself and buying his golf equipment at Kmart. You heard it right. Romney, who is worth about a quarter-billion dollars, is always on the hunt for "blue light specials." A family friend was quoted in the same article saying that one of Romney's mantras is, "Just because you can afford something doesn't mean you should buy it."

Romney promises similar frugality within the federal government if he is elected president this fall. He proposes to cap government spending at 20% of gross domestic product. That would involve spending cuts of about $500 billion per year starting in 2016.

(AP Photo/Cliff Owen, File)
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Kiplinger
The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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