MND: Have a Budget

Here's another post in our series on the learnings from the book The Millionaire Next Door. A quote from page 78:

Planning and controlling consumption are key factors underlying wealth accumulation.

Operating a household without a budget is akin to operating a business without a plan, without goals, and without direction.

We've had an annual budget every year we've been married. We've tracked our spending on Quicken for the past ten years or so. And we can attest that these principles are true. Apply them to your life and your net worth will be much better off.

Comments

[Ryan]

Roth IRA. Do it! Now!