Rich people budget their money

The millionaires' savings tips

Stay flexible

The Indian proverb shown here was adopted by many millionaires for personal savings tips. When the job they had started offered no more income opportunities, they changed saddles. It takes courage and a little adventurous spirit, but has always been rewarded - if not with millions, then at least with the end of boredom.

Create a budget

A budget plan is a combination of dreams and efforts. Set fixed amounts for beautiful and useless things. Protect yourself from impulse purchases and phases of buying frenzy. A budget plan is your map of the goal. Without a card you will be lost!

Cut down on your expenses

Astonishing for many: first the plan, then the savings. When your budget puts you in control of your money, you have powerful new reasons to cut your everyday expenses. Stanley and Danko were amazed to see that almost all millionaires live “under their means”.

Invest

Spending money or speculating with money - both ways into bad luck. It can also be a mistake to increase your income because it will also make you pay more tax. Money that flows into your account is easily spent. Millionaires bought stocks, real estate or company shares. If you follow such savings tips, invest in assets that increase in value - and that are not so easy to sell quickly.

Save taxes

But not by incurring new debts for questionable investments (media funds, ship investments). Help with your money, donate to humanitarian organizations, and thereby reduce your tax burden. Get help, for example from tax advisors - their fees are also tax deductible.

Avoid stinginess

“Most people don't get rich because they keep all their money to themselves.” The lesson from this saying: Share your possessions, invest in the community, be hospitable and generous. "We met stingy millionaires too," noted Stanley and Danko, "but there were few, and we didn't want to swap with any of them."