5 Frugal Habits of the Rich

A great article with excellent ideas for all of us – not just the rich!

Steve

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Landing a cushy job with a big paycheck is not the only way to strike it rich. No matter what your personal income level, if you live below your means, maintain a modest lifestyle, and invest wisely, you are on the path to real riches.

The majority of self-made millionaires share the following five frugal habits – adopting them can lead you on the road to building lasting, long-term wealth and financial independence:

1. Leave the cash at home

Avoid traveling with your money-clip stuffed with cash and credit cards. Bankrate.com states that 86 percent of those forking over cash for luxuries such as expensive cars, jewelry, and electronics are wannabe millionaires purchasing luxury brands to act the part. Instead, model your spending habits after oil baron T. Boone Pickens, who only carries the exact amount of cash needed to purchase items on his ‘list’.

Read the complete article here:  5 Frugal Habits of the Rich |.

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