10 Frugal Living Habits of the Middle Class Millionaire

Middle class millionaires are people who managed to reach "millionaire" status through a normal 9-5 job. Here are 10 habits they possess. Support My Channel!: https://www.buymeacoffee.com/williamsauQ My $15 Phone Plan: https://mint-mobile.58dp.net/rn6rJQ My 4.6% APY Savings Account: https://www.sofi.com/invite/money?gcp... My Favorite Personal Finance Books Your Money or Your Life: https://amzn.to/3VExSUV The Simple Path to Wealth: https://amzn.to/3RODWJp Die With Zero: https://amzn.to/4bjwQ6D My World Map: https://amzn.to/3Y90Sac Chapters 00:00 Start Here 01:04 Looking Poor 02:06 Choosing An Affordable, Reliable Car 03:04 Living Below Their Means 04:06 Paying Yourself First 04:04 Avoiding Debt 05:36 Taking Advantage of Every Benefit Their Employer Has to Offer 06:38 Investing Outside A 401k 07:15 Taking Ownership In Investment Plan 08:14 Practicing Patience 09:27 Practicing Contentment There are two types of millionaires in this world. The first is the entrepreneur who came up with an idea that allowed them to reach a million dollars. The second are middle class people who work average jobs with average salaries that made good financial decisions over a long period of time in order to reach a million dollars. In this video, I share 10 frugal living habits of middle class millionaires. 1. Looking Poor The reason we do not hear about middle class millionaires is because they do not have any visual indicators of their wealth. They live very modest lifestyles and to many people they even look poor. They are in the habit of looking poor because they would rather live a modest lifestyle in order to save and invest more money. 2. Choosing An Affordable, Reliable Car Middle class millionaires understand that cars are the #1 wealth killers due to car payments, maintenance, and upkeep. Middle class millionaires make sure they choose the right car in order to not let this expense control their life. They choose a car that is both affordable and reliable. 3. Living Below Their Means Many people think that in order to make a million dollars, you must find ways to increase your income; however, middle class millionaires focus on decreasing their spending. They focus on budgeting, tracking their expenses, and living below their means in order to stretch their money as far as it can go. 4. Paying Yourself First Although middle class millionaires live below their means, if they are not careful they can still run out of money at the end of each month. And so in order to make sure they are always on top of their goals, they pay themselves first or set aside some money before paying their bills. 5. Avoiding Debt Another habit is they avoid debt because they view it as the modern form of slavery. They understand that debt makes you behind, inflates the price of everything, and prevents you from reaching your goals. 6. Taking Advantage of Every Benefit Their Employer Has to Offer Middle class millionaires are employees with average salaries; however, despite that they focus on taking advantage of every benefit their employer offers them like a 401k match, good health insurance, contributing to their HSA, and taking their vacation time because they understand the financial advantages of these. 7. Investing Outside A 401k Although they take advantage of employee benefits like a 401k, they don't stop their investment journey there, but they focus on growing their money in the stock market through other investment accounts like a Roth IRA and a brokerage account. 8. Taking Ownership In Investment Plan In addition to choose to invest, they also take ownership over their investments and educate themselves to create an investment plan. They understand that you are the person who cares about your money the most. 9. Practicing Patience Middle class millionaires are not young people in their 20s and 30s, but they are older people in their 50s and 60s. Building enough wealth to reach millionaire status takes time and middle class millionaires practice patience and trust the process. 10. Practicing Contentment Finally, in order to consistently make good financial decisions over a long period of time, middle class millionaires practice contentment and focus on being happy with what they have and not always wanting more. **Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **