Thursday, November 3, 2011

Profile in Frugality: Steve Jobs, ????

Steve Jobs, founder of Apple, died earlier this year with an estimated net worth of $8.3 billion. Yes that was a "b" as in billion, not a "m" for million. One may be shocked to learn that a person with such a massive net worth not only described himself as frugal, but who is also described by others as frugal. Yet, CNN ran a story on Steve Job's frugality. The story is relatively brief, and promotes the new biography by Issacson. However, two principles of frugality jumped out at me:
  1. Keep clothing simple. His jeans and black turtle neck were icons. But they were also smart. Low cost and easy effort in wardrobe. I appreciated the less is more concept during my pregnancies because my maternity clothes were limited. It was liberating. I was not overwhelmed by choices. There was less laundry to do. It was simple, easy, and something I've tried to maintain even though the pregnancies are behind me.
  2. Have an idea of what an appropriate price is for an item, and walk away if it is too high. Apparently Steve was in NY City without a coat and it was a cold day. He went to a store with a colleague, but walked out, without a coat because he felt the price was too high, especially since he would get little to no use out of it in California. This from a man with a net worth of $8.3 billion!
I have requested his biography from the library and am eager to learn more about this frugal man.

3 comments:

  1. I quite enjoyed the biography, although I doubt that by the end you'll still see him as frugal! Also, on Thursday Amazon announced a Kindle lending library to Amazon Prime members. Not a bad deal if you're already part of the Amazon ecosystem.

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  2. "Have an idea of what an appropriate price is for an item, and walk away if it is too high. " that's why I've never bought any Apple product :D

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    1. Paris -- Love the comment. We don't purchase Apple products either!

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