Source: Kiplinger

This article was originally published on Kiplinger –


Age: 54

Estimated net worth: $40 million

How she struck it rich: Combined wealth with her husband and author, former U.S. President Barack Obama

Frugal habit: Shops at Target

The former first lady is known for being thrifty. While her husband former President Barack Obama was in office, she was spotted shopping at a Target store in the Washington, D.C., area. What did she buy? It’s reported that Mrs. Obama picked up dog food and toys for the then-first family’s dog, Bo.

In addition to finding ways to save on everyday household items, she’s also known to cut costs when it comes to fashion. Despite having access to practically any high-end designer line she wants, Mrs. Obama sometimes chooses to wear clothing from discount stores, such as H&M. In 2011, she appeared on the Today show wearing a $35 dress from the retailer.

When it comes to fashion, finding a bargain at a discount score that doesn’t look cheap — just as Mrs. Obama did — can be a thrill. However, if shopping for designer threads is your guilty pleasure, you can cut costs by shopping at a consignment boutique. For example, a pair of designer jeans from brands such as 7 for All Mankind and Joe’s Jeans usually retail for $150 to $200. That same pair of gently-worn jeans will sell for one-third of the original price at a consignment shop (see our slide show 12 Things You Should Buy Used).

SEE ALSO: An Inside Look at the Personal Finances of the Obamas and the Bidens

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