Friday, October 8, 2010

Frugal like a Millionaire

That's what I want to be. I'm currently reading the book "The Millionaire Next Door" and it's really an eye opener. Once I finish I plan on review the book in whole, but I was so fascinated but the Frugal chapter I could not wait to post. I guess it's just been a perception that has been drilled into my head from TV and movies over the years that millionaire's are supposed to have luxury items. Call it the American way, but showing off your wealth is what you are supposed to do, when you have wealth.

The Millionaire Next Door 

What this book finds is that most American's spend tomorrow's cash today to appear wealthy. The millionaire, typically spend less on everyday items and this in part is how they became millionaire in the first place. Hard work and determination too, but a majority of millionaire save their money by being frugal. My family is learning to be more frugal these days. We are looking at ways to reduce expenses and increase savings. Here are some of the little things we have done over the past few months.

Packing a lunch - Both for work and school

Eating at home - We have cut out eating out, even fast food when we are on the go

Coupons - clip, clip, clip from grocery shopping to clothes shopping

Are you frugal? Why do you do to try and save money on everyday needs?


  1. I consider myself to be frugal in most areas - still working on taming eating out!

    It is amazing to learn how non-celebrity millionaires handle their finances. I still have yet to read this book, but I hope to get to it in the near future.

  2. I have read this book in the past, but I should read it again to refresh. My spouse and I both pack our lunches and I do shop with coupons... but we tend to get a little lax with eating out.