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.
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.
Posted by: emmanuel | February 24, 2007 at 07:37 PM
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
Posted by: Im rich your not | January 16, 2008 at 10:34 PM
YOUR MIND IS BRIGHT GOOD IDEAS U HAVE
MY DEAR FRIEND
THANKS FOR GIVING ME THE GOOD IDEAS
THANKING U
NGR
Posted by: | March 04, 2008 at 08:31 AM
I don’t know where to start. One thing that I know, I have plenty of ideas, but I don't have startup money. I'm also not a risk taker person. I have heard from friend and family that I have plenty of gifts but, I don't know where to begin. Please I need your ideas and advise. Thanks!
Sincerely
Alex
Posted by: Alex Abebe | March 13, 2009 at 01:11 PM