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Many years ago I read a really great book that told about..."The millionaire next door" that was a real eye opener about the silent rich.
This story is very much alone the same lines as that great book.
From the story......
"Saving thousands while still spending.
Millionaires make up just 2 percent of the population. They get a bad rap during recessions for being wasteful with their money and are frequently used as examples of excess. It’s the millionaires that you don’t see that you can learn from in times like these. I call them the frugal millionaires and interviewed 70 of them to uncover ways we can all be smarter with money.
Nearly 70 percent of the economy is based on consumer spending. To keep the economy going we need to keep spending but not waste money in the process. This is where the frugal millionaires come in. They’ve been smart with their money all along and haven’t lost it all and had to remake it. These are the kind of people you want to learn from when it comes to spending your money.
Spending philosophy.
Frugal millionaires are unique thinkers when it comes to spending money: 1) they can easily delay their need for gratification when purchasing; 2) they are resourceful in getting what they want by carefully timing their consumer purchases; 3) they make living below their means painless; 4) they don’t like wasting anything (especially money); 5) their sense of “self-entitlement” is highly minimized: and 6) spending is OK with them…depending on what they are buying (think: appreciating vs. depreciating assets)."
"Obvious" to who? Surely not the kids/young adults that don't get taught home
economics at home or at school.
There is a huge gap in America about smart living and smart consumerism.
Heck, in America rampant consumerism is a more than a spectator sport.......
it's a way of life for millions.
So many people don't seem to get it, I agree with the basics (and try to live by them). One thing I learned by keeping my eyes open and my trap shut is about 90% of the people who spend great sums of money are not rich, they just want everyone to think they are by conspicuous consumption. It's amazing how many people I would see with rent-to-own trucks going back and forth at places I have lived, or leasing these big expensive cars...less money now yeah, but so much money overall you are just making some one else rich.
So many people don't seem to get it, I agree with the basics (and try to live by them). One thing I learned by keeping my eyes open and my trap shut is about 90% of the people who spend great sums of money are not rich, they just want everyone to think they are by conspicuous consumption. It's amazing how many people I would see with rent-to-own trucks going back and forth at places I have lived, or leasing these big expensive cars...less money now yeah, but so much money overall you are just making some one else rich.
You are so right. A coworker of mine referred to those types of people as, "nickle millionaires." LOL. It is amazing the amount of money that people will waste trying to keep up with the Jones'. The Millionaire Next Door is a great book.
If your a millionaire of course its painless...lol
No, for the smart and the savvy living below you means is easy to do.
All it takes is attention to the details instead of doing what everybody
else does and throw money at it.
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