Millionaire Habits

I read this post from Budgets Are Sexy recently and I thought the habits of millionaires that were outlined applied to us Kiwis as well.

8% shopped at Goodwill stores

I just bought 2 nice jackets at the Dove hospice shop.

20% used coupons

I use coupons when I can find them.  Especially if I’m buying stuff online – I always do an online search for discount codes for the retailer.

64% said they lived in a modest, middle-class home

Hmm, I live with my in-laws in a very big house.  Think I fail on this one.

28% mowed their own lawns to save money

Yep, don’t pay anyone to mow my lawn and don’t think I ever will.

44% only purchased used cars

I’ve never bought a new car in my life although my last car was only 3 months old – I still got close to 20% off the sticker price so I was happy.

19% managed their investments themselves – they do not use financial advisors in order to save money

Likewise.

60% said they were frugal with their money

 

I’m definitely improving on this one.  My wife has always been super frugal and I’ve been the spender but now it is very rare that I will buy something that I don’t need.

81% used credit cards that offered reward dollars — this way they could get something for free

I definitely do this.  I look with envy at the US credit card hackers as we have very few opportunities for travel hacking etc. in NZ.

And lastly, 41% spent less than $3,000 on their annual vacation

I’m not sure about this one.  Is it per person?  Then I’m ok.  If it is for the whole family then I probably spend more.

How about you folks?

Published by

ebsfwan

Technically FI but still haven't RE'ed! Love my job and feel I add value. Based in Auckland, married with 1 lovely daughter who is still at school. Became FI through a combination of good investments and a very high savings rate!

Leave a Reply

Your email address will not be published. Required fields are marked *