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Episode Chapters:
- 01:03: Frugality
- 01:34: Savers are Losers
- 03:13: The Millionaire Next Door
- 05:12: Episode Break
- 07:28: Prugality
- 09:50: The Value of Being Prugal
Excerpts and Highlights:
Millionaires spend less than what they earn. That they are in fact, “prugal” or a combination of prudent and frugal.
It’s important to again emphasize that smart spending and saving money will not make you rich. However, it will increase your chances of becoming wealthy through other means. Savers are not losers. In fact, they’re winners who create opportunities for themselves.
Saving money is not just about saving money. It’s also about developing financial discipline, understanding your spending habits, and nurturing in you, a long-term mindset.
Book mentioned: The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas Stanley and William Danko.
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