The Economic Times

Small habit that changed his finances: Charlie Munger had no family money and 8 children to support. One habit changed his finances

Charlie Munger built his wealth through a simple habit: spending less than he earned and investing the difference. Despite having modest earnings, no family money and an army of children to support, he accumulated substantial investments during his first 13 years of legal practice. Later, as Warren Buffetts business partner at Berkshire Hathaway, Munger continued advocating sensible spending, shrewd investing, lifelong learning and delayed gratification as keys to financial success.