MND: Why are There so Few Millionaires?

Here's another post in our series on the learnings from the book The Millionaire Next Door. A quote from page 36:

Why are so few people in America affluent? Even most households with six-figure annual incomes are not affluent. They believe in spending tomorrow's cash today. They are debt-prone and are on earn-and-consume treadmills. To many of them, those who do not display abundant material possessions are not successful.

This is why I love this book -- it agrees with me! ;-)

Here are some posts of mine that reflect these same sentiments:

• It's Not What You Make, It's What You Spend
• It's Not What You Make, It's What You Spend, Real-life Examples
• How to Get Out of Debt

Comments

[YoungMiser]

I wrote something similar about spending tomorrows money today by calling it the cash flow game.

[Cathy]

I read MND several years ago, so maybe I'd feel differently if I were to read it now, but I thought it was just an okay book. The Millionaire Mind, on the other hand, was fabulous, and I think it answers your question better than MND - it gave me the feeling that if I could cultivate these factors in myself, financial success (and happiness, because I would love what I was doing) would inevitably follow.