Frugal Tip Monday-10 Things Millionaires Won't Tell You

Money, without it we are not able to enjoy the necessities in life, let alone the luxuries. Loving shopping and fashion as much as I do, I always have a passion for finance and building wealth. By building true wealth you have to be a conscious spender, according to Ramit Sethi of Iwillteachyoutoberich.

Aside from being a frugal/savvy shopper, I am concerned about building my wealth for years to come. You hear all these fancy terms and ways you should spend but sometimes I love hearing the real-life scenarios that separate the Poor from the Wealthy.

I came across this great article, "10 Things Millionaires Won't Tell You" and immediately a eagerness to see what the story was about. These are some very great points to adapt to your everyday life.

10 Things Millionaires Won't Tell You

“You may think I’m rich, but I don’t.” Real millionaires understand that 1 or 2 million will not take them through the next 30 years.

“I shop at Wal-Mart . . .” Most millionaires how they got there was by buying smart and saving money by clipping coupons. Not shopping at what I like to call "Boutique Supermarkets".

“. . . but I didn’t get rich by skimping on lattes.” Most millionaires,by statistics made their millionaires by being a entrepreneur, not skipping the Starbucks line.

“I have a concierge for everything.” Let's worry about a concierge when you make you millions, average folks can't afford that.

“You don’t get rich by being nice.” I agree with this 100%. Being nice will never get you to the top. You will have to say "no" and mean it. Walk away from things that are not profitable but at the end of the day always keep your integrity. Never burn any bridges but try to get to the top is a lonely road and lots of enemies will come.

“Taxes are for little people.” Plainly put millionaires under taxes and file under capital vs. middle class because middle class is taxed 15% more than capital gain.

“I was a B student.” Clearly states that the straight "A" student is mostly likely not going to be your boss nor business owner, so that means there is hope for me. YYYIIIPPPEEE!!!

“Like my Ferrari? It’s a rental.” They do not spend money on things that are not of true value. Why buy when you can rent?.

“Turns out money can buy happiness.” Research shows that wealth does bring happiness. Roughly 65% of millionaires say that money “created” more happiness for them.

“You worry about the Joneses — I worry about keeping up with the Trumps.” What more can I say to that.

So let me know what you think? Do you Agree or DisAgree? Let me know your thoughts?

Photo Source: Changeyouractions

Frugal Tip Monday-It's Not What you Make but What You Spend?

Finance is another true love of mine. I came across a great article on Iwillteachyoutoberich.com regarding Conscious Spending. It definetly hit home with everything that I have been reading about lately. It's not what you make but what you spend is the real key to financial success.

According to Ramit Sethi, unless you establish a financial mindset at a very young age it is hard to break the I-want-it-now habit. He gives a scenario of three friends, their salaries and how they spend.

Friend 1: The Shoe Lover-She spends at least $5000 a year on footwear. Stating that he does not truley believe in the purchase but her six figure salary and various investment makes her authorized for a splurge or two.

Friend 2: The Partier- This friend can roughly spends close to $21,000 a year on entertainment. Mind you that is a bit excessive but again with a healthy salary and a nice standing in his 401K and real estate invesments he is sitting pretty.

And last but not least, Friend 3: The Subscription Nut- He has every subscription from Netflix, local gyms, and online music accounts. He does not disclose his salary but does mention that he does have a budget and plan for his money every month. That means its not more about the spending than it is managing the money.Money should always have a name and a plan.

Iwillteachyoutoberich.com is a great resource for help and direction to a secure financial future. I just ordered the book yesterday, and I hope it lives up to everything that I hope for. I will write a review and let you know if it is worth the read.

Check out another Frugal Tip Monday tips about creating a budget and tools to help manage your finances.

Frugal Tip Monday- How to Save By Spending on Select Days

SavvySugar is one of my favorite resources for helpful finance information. I came across an article that read "How To Save by Spending On Select Days". The insight into this concept was great thinking. Spending wisely is very important, here are some suggestions on how to save by selection of a certain day.

1. Grocery Sales are determined by the day you are paid- Marketing is very strategic for when sales are offered to customers. They know that most people are paid at the beginning and the end of the month, and they gauge their promotions accordingly. Smart HUH? They know the consumers are likely to spend more at the beginning of the month.

2. Appointing a Day for Buying Lunch- Eating out is one of the biggest expense on everyone's list, including mine. (Guilty as Charged) Designating a day to buy lunch out will cut down on your unnecessary expenses and build towards a more financially stable future.

3. Going Cash Only on The Weekends- Placing yourself on a cash only budget can eliminate overspending. Having a set amount for your weekend activities can make for some decision making on functions or outings that you attend. We are more likely to spend more on the weekend for the sole purpose of fun and entertainment after a long week, but be careful this can take you right to the poor house.

Check out Frugal Tip Monday- Online Grocery Store