MND: Why do Millionaires have Budgets?

Here's another post in our series on the learnings from the book The Millionaire Next Door. A quote from pages 39-40:

When we tell our audiences about the budgeting and planning habits of the affluent, someone always asks a predictible question: Why would someone who is a millionaire need to budget? Our answer is always the same:

They became millionaires by budgeting and controlling expenses, and they maintain their affluent status the same way.

Yes, you can make all the money in the world, but if you spend all the money in the world plus $1, you have a negative net worth. Budgeting and controlling expenses hold the key to wealth.

Comments

[emmanuel]

im 21 years of age, and im in the process of setting up my own business. i just need a little more help, and advice to keep my mind set on my goals and aims, and not to become laid back, as iv been lately.

[Im rich your not]

You an idiot I recommend you just don't do much of anything from here on out. Thanks and have a nice day.

Million Dollar Man

YOUR MIND IS BRIGHT GOOD IDEAS U HAVE

MY DEAR FRIEND

THANKS FOR GIVING ME THE GOOD IDEAS

THANKING U

NGR