Last month, we examined What Billionaires Can Afford to Buy. Would it surprise you to know that many millionaires and billionaires can also be frugal? Let’s look at several tips that could help US save like a millionaire (or a billionaire).
Tips to Save Like a Millionaire (Or a Billionaire)
Did you ever watch shows like Who Wants to Be a Millionaire and wonder if, given the chance, you could answer the million dollar question? Most of the time, the lucky participant wasn’t so lucky. Still, many of us would probably jump on the opportunity to make that kind of money so fast. But the fact is, achieving financial prosperity isn’t a once-in-a-lifetime chance, it’s a lifestyle.
You can ask any self-made millionaire how they came into their wealth. The ones that truly came from nothing, like Oprah Winfrey or former Starbucks CEO Howard Schultz, definitely didn’t gain their fortunes from correctly answering a question on a gameshow. If you look at the lifestyles of self-made millionaires (and billionaires), you’ll notice a pattern: They all adopted frugal financial habits and saved like there was no tomorrow.
So, is it possible for just anyone to achieve a seven-digit bank account in their lifetime? Yes. You just have to be willing to learn to save like a millionaire. The good news is, a lot of these habits are easy to implement, they just take discipline and determination.
To learn more about the financial habits of the wealthy, check out Wikibuy’s infographic below.