It’s very simple.
Just learn what millionaires do and do that. It’s not rocket science.
I’ve mentioned before that I’m training to run a half marathon this fall, so in order to learn how to train for something like that, I’ve been asking several people who have run long distance races. I don’t want the opinion of Joe-Couch-Potato (he should really change his name).
So if that’s the case, then what do millionaires do? Or better yet, what do they NOT do?
I’ve read the books The Millionaire Next Door and The Millionaire Mind, both by Thomas Stanley, which were great books and highly recommend. In both books, Stanley did studies of millionaires to determine what some of their common characteristics are. But recently I came across a similar book called The Frugal Millionaires in which 70 millionaires anonymously shared their advice about money and wealth.
Over at the blog Free Money Finance, there is a great summary of this book. The concepts of the book are basically boiled down into six main ideas of how millionaires handle their money:
- Delayed gratification is easy for them.
- Resourcefulness in getting what they want is a key to their success.
- They make living way below their means painless.
- They don’t like wasting anything (especially money.)
- Their sense of “self-entitlement” is highly minimized.
- Spending is OK with them depending on what they are buying.
Which of these six is the easiest for you to live out? Toughest? (Comment below)
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