7 Frugal Habits of Millionaires


Most people think millionaires aren’t all frugal, but did they ever stop to wonder how millionaires got so rich in the first place?

Maybe, just maybe, they started out with modest, frugal lifestyles to get to their millionaire status. Here are some ways in which millionaires lead their lives to live up to their millionaire rankings.

Saving Is Essential

Setting good example. Young parent mother teach child little daughter girl to manage finances save money spend earnings with economy plan family budget.
Image Credit: fizkes/Shutterstock.

Most people think that it’s all about making a lot of money to get rich, but in fact, it’s more about saving money, and this also goes hand in hand with keeping your debt levels low or non-existent! Saving should be an autopilot action every time you have money coming in.

Differentiate Wants From Needs

Woman shopping online on Amazon website on iPad.
Image Credit: Kaspars Grinvalds/Shutterstock.

Everybody wants a nice car, but do you need one? Is it going to make a big difference when getting from A to B, or will this be the same in an ordinary car? Yes, you may look cool and flashy, but at the end of the day, spending money on luxury products like cars isn’t any help towards getting closer to millionaire status. Only spend money on the things that you need.

Budgeting to Organise Finances

Budget rule concept 50% needs, 30% wants and 20% savings
Image Credit: Nokuro/Shutterstock.

Budgeting not only helps us allocate the right funds for the things we need to spend money on but also gives us a general overview of what’s happening with our hard-earned cash. One should at least try to allocate money for investments each month and avoid spending too much money on things that are not essential.

Spend Wisely

Woman in shopping. Happy woman with shopping bags enjoying in shopping. Consumerism, shopping, lifestyle concept.
Image Credit: Bobex-73/Shutterstock.

This one is a given for anyone who strives to be wealthier. It’s easy to participate in luxury spending as one’s monthly income grows over the years, but it’s necessary to maintain a modest lifestyle if you want to ensure financial growth and stability. Just because you’re making more money doesn’t mean that you should be throwing more of it around.


Business team investment working with computer, planning and analyzing graph stock market trading with stock chart data, business financial investment and technology concept.
Image Credit: Freedomz/Shutterstock.

Most of the time, the point of saving money in the first place is to hopefully grow it to enjoy it further down the line. The only way to grow money is to invest it. Here, it’s essential to invest in assets that appreciate over time, and such assets include real estate, stocks, and even business expansion if you are a business owner.

Get Out of Debt

Sad depressed man checking bills, anxiety about debt or bankruptcy, financial problem, bank debt or lack of money, unhappy frustrated young male sitting at work desk with laptop and calculator.
Image Credit: fizkes/Shutterstock.

The best strategy regarding debt is to not have any at all, but somehow, this is not commonplace, especially in America if you’ve gone to college. It’s essential to crunch whatever debt you have as soon as possible because every penny and time spent on paying debt off takes away from the ultimate goal of saving and growing wealth.

Always Have an Emergency Fund

Emergency fund in the glass jar with cash.
Image Credit: Vitalii Vodolazskyi/Shutterstock.


It’s so crucial to always have a reserve of cash that can be tapped into in case of an emergency. You never know when you’re going to need an urgent medical expense or have a breakdown with your car. If you have a solid cash reserve, it would be far better to use it here than whipping out a high-interest credit card or taking out a loan. The latter will only set you back a few steps and have you further away from your financial goals.

I’m Frugal: Here Are My Top 30 Frugal Living Tips to Save Money

Funny child hugs the radiator. Kid in hat and warm clothes enjoying home heater. Heating of housing during the energy crisis in the winter cold season. Restrictions and savings of gas and electricity.
Image credit: Sharomka/Shutterstock.


I’m super frugal, and one of my passions is sharing my frugal living tips with everyone.

Here are some of my absolute favorite frugal tips to help you get started on your journey to frugal living.

I’m Frugal: Here Are My Top 30 Frugal Living Tips to Save Money

15 Things That Are No Longer Worth It Because of How Expensive They Have Become

Portrait of beautiful young blonde woman posing and giving a kiss to the camera.
Image Credit: PKpix/Shutterstock.


Everything comes with a hefty price tag these days. From indulgences to essentials, the cost of living keeps rising. We used to consider certain items affordable options, but now they’ve become so expensive that they’re no longer worth it. Here are 15 things that have lost their affordability and make us wonder if they are worth it!

15 Things That Are No Longer Worth It Because of How Expensive They Have Become

28 Practical Ways Frugal People Save Lots of Money

Young pretty woman traveller in baseball cap looks and smiles at camera at green nature forest background, portrait close up.
Image Credit: DedMityay/Shutterstock.


Saving money doesn’t have to mean saying goodbye to life’s little indulgences. With a few smart tweaks, you can stash away cash for that dream vacation, rainy day fund, or splurge-worthy purchase without feeling like you’re on a constant budget patrol.

Think of it as a side hustle that pays off without the extra hours. Whether you’re looking to conquer debt or simply boost your bank account, these tips are guaranteed to put more money in your pocket, painlessly.

28 Practical Ways Frugal People Save Lots of Money

Leave a Comment