Two different millionaires have made headlines this week. First, there is Albert Gubay who is the founder of Kwik Save. And then there is Emma Thompson, the Oscar winning actress. The former has made headlines for being a frugal millionaire who is donating a large sum of money upon his death. The later is making headlines precisely because she wants to spend her money while she has it.
Albert Gubay founded Kwik Save and made millions off of the endeavor. His business is currently valued at £600m. The man is in his eighties now and has always lived a frugal life. He’s always hoped that his frugality would lead to a savings exactly like what he now has. He’s also hoped that he can use that money for a good cause which is why he has recently announced that he will be donating his money to the Roman Catholic church after his death. He’s not dying, yet, though. In fact, he plans to try to keep earning money in the hopes that he will end up with a £1bn charity offer when he dies.
In contrast, actress Emma Thompson wants to spend her millions now while she’s still alive to enjoy them. Unfortunately, her husband Greg Wise doesn’t feel quite the same way. Thompson recently admitted that she has to hide luxury purchases from her frugal husband, scuffing up new shoes so he doesn’t realize that they are new among other habits.
Which do you think is better – living frugally and donating your money to charity or spending at least some of your money while you have the chance?