Barbara Bush was 'the most frugal person I know'

First Lady Barbara Bush’s words live on in a new book, “Pearls of Wisdom: Little Pieces of Advice (That Go A Long Way).” The First Lady loved to share advice and life lessons with those closest to her, from her kids, grandchildren, staff, and employees at the White House, to cabinet secretaries, heads of state, and celebrities. The book was edited by Jean Becker, President H.W. Bush’s chief of staff from 1994 until November 30, 2018, the day he died. Becker who spent four years in the White House as one of Barbara Bush’s deputy press secretaries, now shares the First Lady’s wisdom – said at times behind closed doors – with the public.

Barbara Bush was very transparent with those who knew her best about her relationship to money, advocating for a debt-free lifestyle. “She was the most frugal person I know. She did not approve of the national debt because her big thing was don’t spend money, only buy what you can afford. She did not believe in running up a debt,” Becker told Yahoo Finance. (Meanwhile, household debt in the U.S. has exceeded $14 trillion for the first time, according to the Federal Reserve.)

Bush's advice in “Pearls of Wisdom” for those piling up credit card debt is don’t buy what you can’t afford. She also discouraged people from spending more than they could afford just to keep up appearances with friends and acquaintances. “Do not try to live up to your neighbors. They won’t look down on you if you don’t have two television sets. They will look down on you if you buy things that you cannot afford, and they will know it! They are only interested in their possessions, not yours,” she said.

‘Be sure to pay people back’

Barbara Bush advised people to return dinner invites regardless of whether the initial overture was to go out to a restaurant or have a home-cooked meal. “You don’t need the expensive thing. You can make the best spaghetti in the world. People love to come to your home. Plan ahead and it will be fun,” she said.

Doro Bush, daughter of President George H.W. Bush and Barbara Bush, remembers the time her mother taught her that lesson.

[Barbara Bush's advice to women in the workplace: ‘Don’t let others define you’]

“I was invited to go to the home of a princess one time. Because of mom and dad, we had met all these very interesting people. And so I had been entertained by her and mom said, ‘Well, you’re going to have her back over, aren’t you?’ And I said, ‘Well mom, I can’t. I mean, I have my modest home and she lives in a very grand house.’ She said, ‘Nobody cares. Just be yourself, that’s what is important,” said Bush.

Focus on charity

Being frugal was paramount for President George H.W. Bush and Barbara Bush throughout their lives. While millions were raised at fundraisers, they wanted every dime to go to charity and impressed this upon their staff.

Becker explains she and other Bush staff would organize major fundraisers. Bush celebrated reading every year for her Barbara Bush Foundation for Family Literacy, which she established in 1989. President George H.W. Bush focused on raising money for cancer research.

“One of the things that was challenging for me as their chief of staff,” said Becker, was “they would hold my feet to the fire about how much these events would cost. They wanted every dime to go to the foundations.” Becker said she tried to explain to President Bush and Mrs. Bush that it’s necessary to spend money in order to make money, but they weren’t buying it.

Becker remembers getting into hot water over how much she spent at President Bush’s 80th birthday party. “We raised $56 million for [his] 80th birthday and I think we spent $5 [million] on the event,” said Becker. “He didn't forgive me for a long time. Like, sir, we had 20,000 people there. We had to feed them...but you know what? That taught me a lot about how to raise money for charity.”

More from Sibile:

Private plane travel demand rises amid coronavirus outbreak

Modell’s CEO: Without tariffs, ‘economy would have been a disaster’

Tapestry CEO Jide Zeitlin talks diversity: ‘Talent comes in many forms’

How a publishing company started by a former slave has lasted for 120 years

Sallie Krawcheck tells women: ‘Sometimes it’s not you, it’s him’