| Who knew that one could learn about contentment | | | | 7. Never buying via telephone solicitations. Yay for |
| and frugality from millionaires? | | | | caller ID! |
| The millionaires that Dr. Thomas Stanley studies in his | | | | 8. Developing a shopping list before grocery shopping. |
| two books (The Millionaire Next Door and The | | | | I never have to do that because one of my |
| Millionaire Mind) are first generation millionaires, so | | | | daughters tends to do that for me. At least she |
| keep that in mind. We're not talking old money or | | | | sometimes includes the note "buy something for |
| people with a sense of entitlement. | | | | yourself too." |
| According to his exhaustive research, first generation | | | | 9. Using discount coupons when buying groceries. |
| millionaires tend to do the following: | | | | Rarely do I find coupons for things I actually buy, so |
| 1. Have shoes resoled/repaired. Oops, I never do | | | | I don't get how so many people think coupon clipping |
| that. But then again, like most people, I don't pay | | | | really works for them. |
| $200-300 per pair of shoes, the way these | | | | 10. Purchasing appliances and/or motor vehicles |
| millionaires do, because that's a lot of money to | | | | "top-rated" by Consumer Reports. |
| spend up front. But millionaires know that if you | | | | 11. Leaving department stores as soon as purchase is |
| make a higher up front investment, and occasionally | | | | made. I prefer not entering department stores in the |
| get the shoes resoled, then the cost per wear is | | | | first place. A couple of weeks ago I was in Macy's |
| much less. Even if I could pay $300 without batting | | | | and it dawned on me, for the first time, that I don't |
| an eyelash do I really want to keep a pair of shoes | | | | like shopping in department stores. I hardly ever find |
| for ten years? Um, I do not. I like the excuse of | | | | anything I want. I much prefer entering a small store |
| going out and getting something new every 2-3 | | | | that tends to sell clothes that I like (Gap and Banana |
| years. | | | | Republic come to mind) and hit the sales racks. And I |
| 2. Having furniture reupholstered/refinished instead of | | | | don't have to walk past makeup clerks and feel all |
| buying new. That probably doesn't work when a lot | | | | insecure as I pass by their harsh mirrors and catch a |
| of your furniture is from Ikea. Ahem. I see their point | | | | glimpse of my face sans makeup. |
| though. It's so much easier to pick out new fabric for | | | | 12. Buying household supplies in bulk at warehouse |
| your couch - the upholsterer will even come to your | | | | stores, i.e. Sam's, Costco. Ugh. I hate shopping at |
| house - than it is to spend endless hours shopping for | | | | those places and also hate shopping at stores like |
| a new couch. | | | | Target; tromping around a huge store doesn't appeal |
| 3. Having clothes mended/altered instead of buying | | | | to me at all and just lures you into buying things you |
| new. | | | | don't need. I can go months between trips to Target. |
| 4. Raising the thermostat setting on your air | | | | I buy most of what I need at the grocery store or |
| conditioner during summer/daytime. | | | | online. |
| 5. Switching long distance companies. Thanks to free | | | | 13. Doing more and more business with a discount |
| long distance from cell phones this really isn't an issue | | | | brokerage firm(s). OK, I'll keep that in mind. Ahem. |
| anymore. | | | | Maybe you already do or have done a lot of these |
| 6. Paying off/paid off home mortgage early. I hope | | | | things. If you have other tips (even if you're not a |
| to experience that. | | | | millionaire) please feel free to share them. |