Millionaires and Saving Money

To think that I have something in common with millionaires!
 
I’ve read books about millionaires and apparently most millionaires are frugal with their money, even though they have an overflow, abundance, more than enough! Who would have thought?

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​Yep. It’s true. Many millionaires will iron their own clothes instead of taking them to the cleaners. They’ll repair old shoes, instead of buying new ones, and just buy a variety used items instead of new.

​I do know a few people who are worth millions and when I read those books about millionaires and their frugality, it reminds me of the few millionaires that I know. Sure enough, they are the same way!

They’ll buy an expensive car, but wear older socks. They scrimp and save. It’s also true that most millionaires did not inherit their fortunes, but earned it instead.

Oh yes, and as for me, I love using my wood burning stove to heat up water, cook up soup on a cold night, or brew a cup of coffee instead of using electricity. I’d rather have a fire in our wonderful wood burning stove than reach for the thermostat to turn up the heat.

Of course that doesn’t work in the summer, but saving on that air conditioning does!
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Okay, I admit it. I’d much rather do without air conditioning in my house. Back east, however, in the summer that was not doable for me, but out here in Colorado I don’t want an air conditioner.  I’d much rather save the money, raise the windows, turn on some fans, and even use the oven less than use the A.C.

Save, save, save is what many millionaires make a habit to practice.

It’s true that most Americans don’t have a savings, so an undesirable event could leave them in a bad situation.

There are many ways to save money.

Impulsive Buying

When we first got married, I didn’t always make the wisest purchases. I did, however, want to be wise and use the money I had the best I could. So I started thinking about those “little” purchases and impulsive buying.

I remember that I made a decision to stop buying magazines and magazine subscriptions. Yep, that was one thing I would buy that was impulsive and definitely not a necessity.

How about purchases at the grocery store like snacks, or other items that you really don’t need, but that are impulsive?

It’s good to work hard and save money, and a great character trait that children need to learn, especially this day and time.

Here are 25 ways to save money:

1. Buy used vehicles instead of new
2. Pay off the least amount of debt first, then work towards paying off the others
3. Buy used clothes instead of new
4. Stop making impulsive purchases and only buy what’s on your list
5. Turn off cable/satellite T.V. and use local channels only
6. Eat a home cooked meal instead of going out
7. Learn from the millionaires and repair clothes, socks, shoes
8. Stop going to the movie theatres (this is a huge $$ vacuum!)
9. If you have children teach them the value of money; don’t buy them lots of toys or pay for entertainment (Your children will thank you later for this!)
10. Get rid of some “stuff” and have a yard sale
11. Make the most of yard sales (I have found the NICEST items at these!)
12. Drinking pure, non-chlorinated, non-fluoride water is not only a great way to save, but healthy too!
13. This may sound like an odd way to save, but if you practice preventive medicine and keep yourself healthy, you’ll avoid medical bills.
14. Downsize where you live
15. Give. Yep, I said, give. Give something to someone. Maybe some of those items in your house that you’re not using and are just wasting space will really benefit someone and it makes you feel less stressed.
16. Keep a record of your goals. It’s a fact that focused, organized, goal-setting people are the ones who are most successful.
17. Stay focused on what you desire and dream to have one day by writing those dreams down on paper.
18. Hang your clothes on a clothes line instead of using a dryer
19. Don’t buy name brands
20. Turn off lights, unplug appliances, and use hair dryers less or not at all
21. Grow your own food
22. Purchase necessities in bulk
23. Find ways to make extra money, like washing cars, cutting someone’s lawn, or babysitting, and save it all.
24. Save all that change! It adds up over time and can help pay for a vacation or a meal out.
25.  Stay home more and drive less to save on gasoline.

Well, that’s a short list, but maybe that’ll give you some ideas or inspire you to save money too! A little goes a long way and could help you become debt-free and live in your dream home one day! 

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