MND: Millionaires are Frugal

Here's another post in our series on the learnings from the book The Millionaire Next Door. A quote from pages 28-29:

What are three words that profile the affluent?

FRUGAL FRUGAL FRUGAL

Most [millionaires] don't become millionaires until they are fifty years of age or older. Most are frugal. And few could have ever supported a high-consumption lifestyle and become millionaires in the same lifetime.

This is good news for us all. One of the keys to becoming wealthy is something we can control -- spending less than we make (over a long period of time)!