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Wealth is built by living below your means from "summary" of The Millionaire Next Door by Thomas J. Stanley,William D. Danko
The key to accumulating wealth, according to our research, is simple: live below your means. The individuals we studied who had achieved financial independence and accumulated significant assets did not do so by living lavish lifestyles or spending beyond their means. Instead, they made a conscious effort to spend less than they earned, saving and investing the difference. Living below your means requires discipline and self-control. It means making thoughtful decisions about how you spend your money, prioritizing long-term financial security over short-term gratification. This may involve forgoing expensive purchases, resisting the temptation to keep up with the Joneses, and being...
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