.Unexpected Habits Of A Frugal Millionaire
Unexpected Habits Of A Frugal Millionaire
April 8, 2019 jeff@debtfreedr.com
When you hear about someone being a millionaire, you typically don’t picture them as being frugal. The phrase, “Frugal millionaire” is not something that typically goes together such as a peanut butter and jelly sandwich does.
But, if you’ve read books such as “The Millionaire Next Door” and Chris Hogan’s new book, “Everyday Millionaires,” you’d have a different outlook on how millionaires actually live.
Occasionally, when someone hears that a person is frugal, they automatically think that they’re cheap. Being frugal and cheap are two different things.
So, before we discuss the habits of a frugal millionaire, let’s look at the difference of being frugal versus cheap.
What Is Frugal Living?
Frugal living is simply being intentional with your money. It’s mainly practiced by those who aim to:
cut expenses
have more money
get the most they possibly can from their money
Frugal people understand that paying more doesn’t necessarily mean better value. Again, just because someone is frugal, doesn’t mean they’re cheap.
Are Frugal People Cheap?
I know cheap people and I can tell you firsthand that they’re NOT fun to be around. Cheap people think that EVERYTHING is overpriced.
The bottom line is that these are people who don’t like to spend money. They complain to everybody about how much stuff costs.
Unfortunately, many cheap people I know also lack honesty and moral principles.
The reason I wanted to differentiate between being frugal and cheap is that the majority of research on millionaires concludes that they’re frugal. They put people above money and are known to give to worthy causes.
If you’re not yet a millionaire (keep reading the DFD posts and you’ll soon be one!) and want to know just how many exist out there, let’s move on to some stats…
Millionaire Statistics
Here’s a few millionaire stats you may not know about from millionairefoundry.com:
There are 42.2 million millionaires worldwide, up 2.3 million over the last 12 months.
To continue reading, please go to the original article here:
6 Common Excuses for Not Saving Money By Tara Struyk
Have you ever settled on a new exercise program, only to get a bad cold a few days in and happily throw yourself on the couch, relieved to have a handy excuse? Excuses must be human nature; I know I usually make them when I'm facing something that’s new, that's hard, or that I just don’t enjoy. And I’ve certainly made excuses when it comes to money.
In the years that I’ve been writing about personal finance and investing, I’ve also heard my fair share of excuses, mostly from readers who don’t agree with my advice. The problem is, unlike good financial habits, excuses are easy to come by, even though most of them just don’t stand up to reason. Check out some of the ones I’ve heard most frequently so far.