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Millionaires are frugal and budgetconscious from "summary" of The Millionaire Next Door by Thomas J. Stanley,William D. Danko
Millionaires are frugal and budget-conscious individuals who understand the value of money and prioritize long-term financial security over short-term gratification. These individuals live below their means and are not swayed by societal pressure to flaunt their wealth through extravagant displays of material possessions. Instead, they focus on accumulating wealth through consistent saving and wise investment choices. These millionaires adopt a simple and straightforward approach to managing their finances. They track their expenses diligently and adhere to a strict budget to ensure that they are living within their means. By keeping their expenses in check, they are able to maximize their savings and investments, which ultimately leads to greater wealth accumulation over time. Furthermore, these...
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