The Millionaire Next Door by Thomas Stanley and William Danko

Largely taken from

Although focused on wealthy Americans, there are some interesting takeaways.

  • Don’t try and look rich for example don’t buy a new car to show off rather save some of that money for future you.
  • Feel Secure and don’t feel pressurized to spend money to keep up with your friends and neighbours
  • Defend the money you make by budgeting and planning and Generate your offence
  • Aim to save 15% of your income every year.
  • Use a Budget app to find areas of savings
  • Plan you spending
  • As you earn more keep your spending the same and save the rest.

A related topic is reaching that £100,000 savings amount as quickly as you can why your first 100k is the magical number for generating real wealth

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