Most Millionaires Make Budgets
Thomas Stanley and Wiliam Danko, are professors who have devoted their careers to studying the habits of self-made millionaires – defined as people who became millionaires without the help of an inheritance.The majority of self-made millionaires budget and track every penny. They know how much they spend on groceries, gas, and every other household line-item.
common threads that millionaires share
- Millionaires live frugally.
- They drive used cars.
- They buy their (used) car, instead of leasing one.
- They live in “less house” than they can afford, especially while they’re growing their wealth. Most of their neighbors are non-millionaires.