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Stories abound about the things well-known billionaires do that border on extreme frugality.

We’ve heard and read about Monaco’s Prince Rainier buying sets of socks in matching colors and designs so that when one gets lost or worn out, there is always a ready match, eliminating the need to buy a new pair.

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Adjusting the insurance you’re carrying can dramatically reduce the amount of insurance premiums you pay.

And while frugality is a common trait among first-generation filthy-rich who knew the hard work involved in creating and amassing wealth, some of the younger sets are not to be out-scrimped.Last year, Facebook founder Mark Zuckerberg came under fire for not tipping after lunching in Rome, where meal gratuity is not really expected, except when you are an American, or famous.Social critics failed to note that the kid wears hoodies and flip-flops and was fine with dorm meals before he gets to billionaire status.According to Edmunds.com, the average monthly payment on a new vehicle is 9.Considering your existing car is trouble-free, saving that 9 per month means an annual savings of ,748 by postponing the purchase of a new vehicle.

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