There is one common trait that many millionaires in the United States share: they are frugal to a fault.
According to this article on MSN Money, millionaires are no less cheap, er...frugal than the rest of us. In fact, they may be more so. For example:
1. They don't think they are rich. A million dollars doesn't go as far as they used to. Millionaires worry about expenses, just like the rest of us.
2. They shop at Wal-mart. Hey, a bargain is a bargain.
3. Most run their own business. There is a lesson to be learned here.
4. They may not have a butler, but they have the modern day equivalent: a concierge.
5. Millionaires didn't get that way by playing nice in business. Yes, they can be very mean.
6. They take advantage of tax shelters.
7. Millionaires are more likely to have gone to a state university. Their grades aren't all that great, either.
8. Millionaires are more likely to rent than buy luxuries like expensive cars.
9. Millionaires tend to be happier than the rest of us. Hmmm....I wonder why?
10. Millionaires are always looking to make more money.
Can we learn anything from these common threads which connect most millionaires today? Perhaps. It's all a matter of how you approach life, take advantage of the opportunities that come your way, and live within your means.
How about you? Do you have a "millionaire mindset"?
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I heard about a study recently that showed the vehicles that the 10 richest men in the USA drive. The average age of the vehicle was 6 years and they were average cars. They all saw a vehicle as something to get from point A to point B.