YOU DON’T SPEND TOO MUCH ON HOUSING
Warren Buffett is one of the richest people in the world but lives in a house he bought in 1958 for $31,500. He told BBC, “I’m happy there. I’d move if I thought I’d be happier someplace else.”
Buffett, like all of us, doesn’t need a pricey mansion to be happy and his modest home is a sign of thriftiness that has allowed him to spend his finances on things he values more. If you’re spending less than the recommended 30% of your income on housing expenses, you’re in good shape.