Category Archives: Money Management

Why Millionaires Drive Old Cars

Why do millionaires drive old cars?The Millionaire Next Door famously states that “Only a minority of [millionaires] drive the current model year automobile.” And about 33% of those millionaires-next-door only buy used cars.

At a glance, it may be hard to understand why they’d choose to drive a used car, or to buy a new car and then hang onto it instead of replacing it regularly.

“If I were rich,” you might think, “I’d drive a really nice car.”

After all, you’d think a millionaire could afford a brand new car. So why not get the latest and greatest? » Read more

How to Stop Living Beyond Your Means

How to stop living beyond your means

Many times we don’t even realize that we’re living beyond our means. We’re making our car and credit card payments on time each month, so we’re doing great. (Or so we think.)

It’s only when something unexpected or drastic happens that the reality hits. We lose our jobs, and it takes longer than we’d ever imagined to find a new one. Or we’re hit with medical bills. Suddenly we can’t seem to make ends meet any longer, and we wish we didn’t have those bills. » Read more

What Do “They” Know Anyway?

What do 'they' know anyway?

“They”, “them”, and “everybody” are some of the biggest advice-givers out there — especially when it comes to money. You’ll hear that they say it’s good to do this or that, and that everybody knows that’s it’s best to do the other thing.

But what do “they” know anyway? Sometimes, not much. » Read more

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