It's a proven fact that most millionaires are frugal and cheap as fuk

[NCK MIZ]

Ok, smacktards, Uberknee is going to be SRS and drop some life lessons on you lost sheep. Money doesn't buy happiness. Once you have transport, food, clothing and shelter and enough money to do whatever your social scene is into any further money is essentially pointless. Spend it or save it, it doesn't make a difference. Just don't rob yourself of amazing life experiences in the mean time.

Your all approaching this from a viewpoint of having more money being a positive in and of itself, but this reflects a basic misunderstanding of human nature. Live is meant to be lived.

You aren't thinking through your argument at all. You are trying to argue spend what you have while you have it and enjoy life.

The other argument is spend on what is important and save to establish financial security. Now who do you think will be happier?

Person A- spends every dime he makes, has a good time, but lives paycheck to paycheck living in a 3k/month loft and driving a new cadillac escalade. Can't ever retire because they never saved more than 100k.

Person B- spends money, but only on stuff that is important to him. Puts 3k/month away 1k to buy something they want in cash, they other 2k for retirement. Retires at 55 with 1.5 million in the bank his house and used cars paid off.

Money buys happiness in the sense that it buys financial security, ie knowing you will have enough money to get buy if you had to stop working, if you wanted to retire, etc.

[theendisnear]

Ok, smacktards, Uberknee is going to be SRS and drop some life lessons on you lost sheep. Money doesn't buy happiness. Once you have transport, food, clothing and shelter and enough money to do whatever your social scene is into any further money is essentially pointless. Spend it or save it, it doesn't make a difference. Just don't rob yourself of amazing life experiences in the mean time.

Your all approaching this from a viewpoint of having more money being a positive in and of itself, but this reflects a basic misunderstanding of human nature. Life is meant to be lived.

Funny, I only hear poor people say this.

And regarding this thread, I'm not sure if most millionaires do, but I'm sure most who actually worked for their money do. Take the guy who founded IKEA for example, he's a fuking billionaire and still drives his 10+ years old car and takes public transport.

[Caesar735]

its a proven fact, most millionaires made a million dollars


accord vs a 3series bmw doesnt get you from regular to a millionaire

[hsaconmymind]

I haven't read the full thread so I'm not sure if this was posted yet, but I agree on one thing, most millionaires are frugal. However, you can't just be cheap and expect to become a millionaire. You have to know how to utilize the money, and have it work for you. GL bro, but more than likely you'll just be another American living the American Dream in debt.

[Dariuzs]

Ok, smacktards, Uberknee is going to be SRS and drop some life lessons on you lost sheep. Money doesn't buy happiness. Once you have transport, food, clothing and shelter and enough money to do whatever your social scene is into any further money is essentially pointless. Spend it or save it, it doesn't make a difference. Just don't rob yourself of amazing life experiences in the mean time.

Your all approaching this from a viewpoint of having more money being a positive in and of itself, but this reflects a basic misunderstanding of human nature. Life is meant to be lived.

Youre right, I think that is my brothers main flaw, I have alot more nice stuff than he does (and I dont have very much), I'm under the impression that if you spend ~50k total initially on lasting material things youll have everything youll ever need your entire life and the rest of your income can put into paying required expenses/upgrades/updates, and then savings.

I wont ever spend money on women, improve yourself and have a good financial base/potential and a woman worth keeping will be more attracted to that than some sloot who is attracted to the money you spend on her. My dad and brother are living proof of that, my mom was a class A catch when she was younger, pretty, wealthy, intelligent, Persian girl with a perfect body nice face and D's, lots of rich white kids tried to throw money at her and took her to nice resturants in their BMWs, but she didnt give a shyt, my dad took her to a cheap indian place and ate her moderately spicy food to troll her when it was too spicy for her after she had laughed at him for ordering the spiciest thing on the menu as a 'white boy clearly unaware of how powerful indian spices are', and she fell in love, theyve been married 27 years and she helped him pay for some of his college.

Obviously this doesnt apply to random bar sloots, but if youre still looking for those girls, youre an idiot with no concept of how valuable real relationship is.

[Jyeatbvg]

Ok, smacktards, Uberknee is going to be SRS and drop some life lessons on you lost sheep. Money doesn't buy happiness. Once you have transport, food, clothing and shelter and enough money to do whatever your social scene is into any further money is essentially pointless. Spend it or save it, it doesn't make a difference. Just don't rob yourself of amazing life experiences in the mean time.

Your all approaching this from a viewpoint of having more money being a positive in and of itself, but this reflects a basic misunderstanding of human nature. Life is meant to be lived.

[youtube]nFl0nlHaWa4[/youtube

There's a big difference between spending frugally and waiting around for 30 years. Find that difference and you will enjoy life and become rich (srs).

No one's telling you to miss out on amazing life experiences. What we're trying to say is that there's a way to enjoy life while also spending frugally - once you learn how to do that you'll live a great life.

/22 year old advice

[Death Strike]

ITT: we ignore the role of chance in our life and attribute success or failure to superficial attributes

being in the right place at the right time >>>>>>>> whatever your personal characteristics are

100% srs

I've seen some of the dumbest people run succesful businesses.

Of course it follows that if you spend carelessly, it won't matter how much money you have, this is common sense.

I suspect that it's not that most millionaires are actually frugal but rather more aware of their money than the average joe and so people get the impression that they are being cheap if they have a million dollars and are only still living life as if they had a fraction of that money.

Also let's consider how much easier it is to be "cheap" once you're a millionaire if you measure the amount of money you spend as a percent of your overall income.

[coyoteballhair]

Loling at the people who think saving means not buying anything saving means stop wasting money on things that you don't need or aren't going to appreciate for a long time when I think about buying something I think about how long will I appreciate what I bought vs the cost of the thing based off how much money I have and the money I'm making it's fine to buy things but when your buying things needlessly and not really using them or appreciating or spending over your limit then that is a waste of money.

[gokubrah]

Wow... 23 years old and have $15k in the bank! Ballin' my man... You got it all figured out. I hope that life plan pans out for you! :P

lmao this.

When I turned 23, I had $60k saved, kept saving until I turned 24, then used the money as a downpayment and bought my dream home. If you think having $15k in the bank is anything worth bragging about, you are doing it wrong.

OP, my point to you would be to stop focusing about the idea of becoming rich. You seem to be determined to make a lot of money at some undetermined point in the future, just for the sake of making money. Why not set a goal of living the life you want?

For me, I have a killer house, save a ton of money, and still have money to pay all my bills and have money left over to life a very comfortable, yet fulfilling lifestyle. I cook my own meals because it a) tastes better and b) is much cheaper. If I hated my own cooking, I'd probably eat out more, but because I enjoy it, I choose not to eat out. This helps me financially, but I certainly could afford to eat out more if I wanted. I don't spend money on flashy clothes, not because I can't afford them, but because the clothes I get at Kohl's look perfectly fine and are much cheaper.

I spend money, but not foolishly. Instead of being frugal for the sake of being frugal, why not make SMART financial decisions that let you live the life you want? Don't just save so you can brag about how much money you have one day. Live a life that you love 24/7. If you love being super frugal, more power to you, and keep doing what you're doing, but it sounds like you are saving just so one day you can say you are rich, and in my opinion, is not worth it.

[Uberknee]

You aren't thinking through your argument at all. You are trying to argue spend what you have while you have it and enjoy life.

The other argument is spend on what is important and save to establish financial security. Now who do you think will be happier?

Person A- spends every dime he makes, has a good time, but lives paycheck to paycheck living in a 3k/month loft and driving a new cadillac escalade. Can't ever retire because they never saved more than 100k.

Person B- spends money, but only on stuff that is important to him. Puts 3k/month away 1k to buy something they want in cash, they other 2k for retirement. Retires at 55 with 1.5 million in the bank his house and used cars paid off.

Money buys happiness in the sense that it buys financial security, ie knowing you will have enough money to get buy if you had to stop working, if you wanted to retire, etc.

My argument is that financial security is the only goal that one should seek to obtain and is obtainable without much money at all. Anyone who isn't retarded should be able to make around ~80k/yr and have enough money to not only be financially secure but experience much of what life has to offer. Living frugally will offer literally no benefits, but will rob you of life experience.

Enjoy watching your number rise, while I backpack around the world.

I'll explain it in a parable:

A CEO (FYI $10k/day) went to a small fishing village for a vacation, there he met a fisherman. He asked this fishman, what do you do all day? He said, well I fish for a few hours to provide for my family and spend the rest of the day playing guitar, playing with my children or with my amazing wife.

The CEO said, wow, with a just a small investment from myself you could buy another fishing boat and employ a whole crew. You don't have to pay them that well and they will work for 8 or even 12 hours a day. If you save the profits soon you will have an entire fleet. By the age of 60 you will be a millionaire and can retire happy.

The fisherman asked, what will I do then? To which the CEO replied, well you go could fishing, spend time with your family, play guitar or enjoy your amazing wife of course, whatever you wanted!

The fisherman just smiled.

[RockyIV]

lmao this.

When I turned 23, I had $60k saved, kept saving until I turned 24, then used the money as a downpayment and bought my dream home. If you think having $15k in the bank is anything worth bragging about, you are doing it wrong.

OP, my point to you would be to stop focusing about the idea of becoming rich. You seem to be determined to make a lot of money at some undetermined point in the future, just for the sake of making money. Why not set a goal of living the life you want?

For me, I have a killer house, save a ton of money, and still have money to pay all my bills and have money left over to life a very comfortable, yet fulfilling lifestyle. I cook my own meals because it a) tastes better and b) is much cheaper. If I hated my own cooking, I'd probably eat out more, but because I enjoy it, I choose not to eat out. This helps me financially, but I certainly could afford to eat out more if I wanted. I don't spend money on flashy clothes, not because I can't afford them, but because the clothes I get at Kohl's look perfectly fine and are much cheaper.

I spend money, but not foolishly. Instead of being frugal for the sake of being frugal, why not make SMART financial decisions that let you live the life you want? Don't just save so you can brag about how much money you have one day. Live a life that you love 24/7. If you love being super frugal, more power to you, and keep doing what you're doing, but it sounds like you are saving just so one day you can say you are rich, and in my opinion, is not worth it.

You have to make money to have security so that you aren't under the contract of anyone else like a bank. Unfortunately having a mortgage is part of it usually but if you can get out from under that as soon as possible then... profit. People that live on the edge of financial ruin are often the ones that ask what happened? You went on 4 vacations every year for the last 5 years that's what happened.

[Dariuzs]

I didn't mean it like that, he looks like a pretty tall, in shape, good looking guy (no homo) and could easily land someone like her w/ or w/o money. I meant the rich fuks that I know.

This is a good example of what youre talking about, this is my brothers best friend/neighbor when we were growing up, he makes ~200k a year but cant find a girlfriend because he has no game. He thinks speaking French and throwing money at women is how you get them, and he still hasn't learned that's not important. The way to get quality women is to become alpha, not to get women, but to be it for yourself.





This is a bar whore who likes money, sadly most miscers seem to think these qualify as female, this guy probably isnt a miscer, but he has the qualities of one and will undoubtedly go through the same cycle every miscer that hates/chases sloots and cries that theyre all sloots afterwards on the misc.

[Reddyset]

Reading through the super one-sided posts in this thread I feel like people need to strike a balance. Being super cheap often you lose out on life experiences and are socially handicapped. Spending your whole pay cheque on drinking and high priced clothes obviously isn't a good strategy either though.
You can still splurge on nice items periodically while maintaining a comfortable lifestyle and not being a cheap *******, this is the way I and many others I know live their lives.

[Huke]

This subject is always very interesting. There have been a few good books mentioned. I'll add the Wealthy Barber and the Wealthy Barber Returns.

As many have pointed out, the trick is living below your means. That will allow you to stay out of debt and maintain a positive cash flow. Once you're in the positive, you can save some cash and either spend it on things you need (and own them) or make the money work for you by investing. Plus you'll always have some extra money for personal enjoyment.

[seanb1979]

I lol @ people in the office who eat out everyday, who wear only designer brands, who buy coffees every morning.

I lol @ students who drive cars when they live on campus, who have data in their phone plans for $15/month, who buy clothes for special occasions ($20 green tee for St. Patty's Day).

I lol @ miscers who drive supercars their daddies buy them, who make threads about drinking out 5 times a week, who post pics of themselves balling in watches worth more than my salary.

I'm cheap as fuk, even my friends call me cheap. But one day I'm gonna be rich and lol @ all the haters.

i dont see the problem with this one... a lot of people need this for work... good luck succeeding in business when you tell clients they had to wait for that email because your phone can't send/receive email

[Dariuzs]

Reading through the super one-sided posts in this thread I feel like people need to strike a balance. Being super cheap often you lose out on life experiences and are socially handicapped. Spending your whole pay cheque on drinking and high priced clothes obviously isn't a good strategy either though.
You can still splurge on nice items periodically while maintaining a comfortable lifestyle and not being a cheap *******, this is the way I and many others I know live their lives.

This is probably the post that should sum up the thread, I'm going to go eat my free breakfast and lift, I remember why I dont misc anymore, I waste too much time here and end up teaching instead of learning

[arabrah]

I lol @ people in the office who eat out everyday, who wear only designer brands, who buy coffees every morning.

I lol @ students who drive cars when they live on campus, who have data in their phone plans for $15/month, who buy clothes for special occasions ($20 green tee for St. Patty's Day).

I lol @ miscers who drive supercars their daddies buy them, who make threads about drinking out 5 times a week, who post pics of themselves balling in watches worth more than my salary.

I'm cheap as fuk, even my friends call me cheap. But one day I'm gonna be rich and lol @ all the haters.

whats the point of money if u not gonna spend it

[Jyeatbvg]

lmao this.

When I turned 23, I had $60k saved, kept saving until I turned 24, then used the money as a downpayment and bought my dream home. If you think having $15k in the bank is anything worth bragging about, you are doing it wrong.

OP, my point to you would be to stop focusing about the idea of becoming rich. You seem to be determined to make a lot of money at some undetermined point in the future, just for the sake of making money. Why not set a goal of living the life you want?

For me, I have a killer house, save a ton of money, and still have money to pay all my bills and have money left over to life a very comfortable, yet fulfilling lifestyle. I cook my own meals because it a) tastes better and b) is much cheaper. If I hated my own cooking, I'd probably eat out more, but because I enjoy it, I choose not to eat out. This helps me financially, but I certainly could afford to eat out more if I wanted. I don't spend money on flashy clothes, not because I can't afford them, but because the clothes I get at Kohl's look perfectly fine and are much cheaper.

I spend money, but not foolishly. Instead of being frugal for the sake of being frugal, why not make SMART financial decisions that let you live the life you want? Don't just save so you can brag about how much money you have one day. Live a life that you love 24/7. If you love being super frugal, more power to you, and keep doing what you're doing, but it sounds like you are saving just so one day you can say you are rich, and in my opinion, is not worth it.

Solid post bro, would read to children and grandchildren (srs).

I'd love to be rich one day, but not just for the sake of being rich. I've identified many things in my life that I have a passion for and many goals I wish to accomplish, and I know that without becoming rich it'd be very difficult to achieve these things. That's why I want to become rich. Money isn't the end goal, just a stepping stone to live a quality life.

[gokubrah]

Loling at the people who think saving means not buying anything saving means stop wasting money on things that you don't need or aren't going to appreciate for a long time when I think about buying something I think about how long will I appreciate what I bought vs the cost of the thing based off how much money I have and the money I'm making it's fine to buy things but when your buying things needlessly and not really using them or appreciating or spending over your limit then that is a waste of money.

This.

Saving means paying yourself first.

[seanb1979]

ITT: we ignore the role of chance in our life and attribute success or failure to superficial attributes

being in the right place at the right time >>>>>>>> whatever your personal characteristics are

100% srs

I've seen some of the dumbest people run succesful businesses.

This is so ****ing true. I think its because they lack the foresight to see what might happen if they fail, so they tend to jump in blindly optimistic, and if they have the right contacts, they will usually succeed. Knowing the right people is what its mostly about. I have customers who are fairly wealthy who can barely spell or turn on their computer.

[MakeMeHUGE]

You'll be the richest pile of rotting flesh in the graveyard brah, congrats.

I wear designer clothes and party hard on the weekends. I have 15K saved in my bank account and I don't even really try to save. My parents will probably buy me my first property, which I can then parlay into better and better properties further on into life, or convert them into rentals and enjoy passive income. That property alone will likely be worth far more than the entire sum of your lifetime savings vs. my fun and awesome lifestyle.

My top private school education and degree from one of the top universities in my country, combined with my white middle class status, good looks, excellent grades high level social skills and sales ability make me incredibly employable and I live in a country whose economy has been doing extremely well despite the instability everywhere else.

You mad?

Back in the real world you have nothing and are ugly as phuck

/thread.

so at age 50 your a millionare? WOOT LETS GO HIT THE BEACH/CLUB PICK UP SOME UHH... OLD WOMEN?

That's what OP's talking about.

Your first thought of what a millionaire should be doing is blowing his money at the club? SMH.


OP knows whats up. I'd much rather save on stupid little things like regular clothes instead of designer etc and have financial security, where I can drop a couple grand on something i REALLY want.

I don't have a problem with people who spend big, I have a problem with people who spend big, when they clearly can't afford it - and even moreso when they then complain about being broke etc, with the whole of oxford street in their wardrobe.

I wouldn't buy ridiculous amounts of designer clothes until I had at least 2m+ (GBP, not dollars) and wouldnt think about a ridiculously exotic car + huge house until about 5-6m+

The main difference is that millionaires spend on utilities and things they want.
Poor people spend on insecurities, and try to make it look like they're millionaires.

[Jyeatbvg]

i dont see the problem with this one... a lot of people need this for work... good luck succeeding in business when you tell clients they had to wait for that email because your phone can't send/receive email

Did you miss the part where I mentioned students?
Besides, if you work for a good enough company, they will pay for your phone expenses..

[Bar182]

90% of this thread is just LOL.

Half the people are saving like crazy and washing themselves with buckets of water to save as much money as they can to end up never spending any money even though they are millionaires.
The other half are living paycheck to paycheck being balla and buying a heap of useless **** that won't be worth anything the next day.

The smart ones are the ones who save, but live a normal life. Enjoy luxuries every now and then but always know they have a good nest egg if **** goes down.

[KaTaNa111]

This... read the 4 hour work week. Being a millionaire doesn't mean ****, saving money is great but you should never sacrifice today to save for tomorrow.

depends on who you are though, I save alot of money for being a poor college student, i tend to skip out on drinking or doing drugs often so i don't waste money, and im gonna use this money to travel either to honduras, japan, or somewhere in africa


so im sacrificing today for an amazing experience down the road

[ebtek]

Is there a "Race" element to this equation, OP?

[mug]

It's all about the utility of your purchases, why buy an i7 laptop if you only go on youtube and ********. Don't impulse buy and research the hell out of anything your gonna spend a sizeable amount of moolah on, don't just but it because its 'in' or what the 'cool kids have'. It's all about restraint, why buy a full price video game when you can buy the game for 1/2 the price a few months down the line. Buy cheap and you may buy twice, cheap crap may break easier, if you spend a bit more on some quality it might last a lifetime.

I had a asus tranformer tablet, decent laptop, ipod touch and a xperia play (half decent android phone). Other than the ipod touch I hardly used much of that stuff because my desktop PC is much more convenient to use. I sold it all and purchased a Samsung Galaxy Note (bigass phone/tablet) and just have my PC left. Sure the galaxy note cost about $650 but I'm gonna use the hell out of it and for a few hours each day.

[diab0licbmx]

100% agree.

Dad is one, Doesn't buy a thing unless he thinks about it for two weeks. Cheap brand clothes, buys everythign on sale, we hardly ever go out. etc.

Another guy that was a millionaire wanted to play poker but was freaking out that 20$ buy in was too expensive.

They're millionaires because all the care about is money and want to have a lot of it. Willing to sacrifice a lot to get as much as it as possible and not let it go.

Edit: But then i know people who make 4-500k a year and go on trips all the time out of no where. buy expensive stuff all the time.

Goes both ways.

I save because I am deathly scared of being poor and not being able to support myself. If i ever have a family, i want them to be free and not have to worry about money that m uch.

[TallDH]

Congrats OP, money is what your life revolves around. You live your life for money.

I don't care about money, I'm just as happy making 30k/yr as I am making 300k/yr. The only thing having more money does is allow me to not worry about not having money.

I'd rather live my life, enjoy the f*ck out of it, and experience things you "frugal" people won't. Money is a tool, it shouldn't be your life. You have one life and you can not take that money with you when you're dead.

[seanb1979]

Did you miss the part where I mentioned students?
Besides, if you work for a good enough company, they will pay for your phone expenses..

if youre working for a company, theres a very good chance you will never be financially independant... that normally happens when youre on your own... and yeah i just skimmed your bullet points and didnt read the student part

[Jyeatbvg]

Is there a "Race" element to this equation, OP?

Anyone of any race can become rich if they spend frugally (srs). There is no race element because you decide how you spend your money, not anyone else.