Stacks of one million US dollars in hundred dollar banknotes.
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What makes a millionaire? It’s not winning the lottery or inheriting money, despite some common misconceptions. As Clark has said, it’s never what you make, it’s what you don’t spend that makes you rich over time.
Thomas Stanley was a professor who studied the behavior of rich people and then wrote a book in 1996 called The Millionaire Next Door. That book quickly helped him become one of them!
When Stanley was interviewed by Money Wise, he revealed some new insight into the spending habits of people who are financially comfortable:
Of course, there are some exceptions to every rule. But this is the general lay of the land in the millionaire world. The real millionaires — and we’re not talking about the Hollywood types — are all flash and no cash.
You don’t need to make big money to have big money over time. Remember, put it in your mind: It’s never what you make, it’s what you don’t spend.
This post was last modified on April 19, 2019 7:49 am
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