Most of us tend to think of extremely cartoon-rich scenarios where we roll in puddles of gold or sleep in beds made of banknotes. In reality, most millionaires have managed to get so wealthy because they know where they are spending their money.
No matter how much you earn, you will never “succeed” if you are not smart about your finances. You won’t see a wealthy person buying $ 2 coffee a day twice a day or buying things they don’t need just because they are on sale.
If you don’t believe me, take it from the real millionaires themselves. When it comes to TV host Jay Leno, Shark Tank veteran Barbara Corcoran and Youtuber Graham Stephen – these guys have specific things they’ve vowed never to splurge on. Read on to find out what they are
1. Jay Leno – Clothes
With a net worth of more than $ 400 million, Jay Leno can afford to buy as much clothing as he wants, but he has never had much interest in fashion. In fact, the former host of Tonight Show says he only buys enough clothes to “cover all the parts of the body that are legally required to be dressed.” Obviously, this is an exaggeration since he wears more than underwear, but it is not an exaggeration that he finds that buying too many clothes is a “waste of money”.
Sources say Jay Leno’s economy was the result of his childhood when his parents, who had struggled during the Great Depression, instilled in him the importance of saving every penny he could.
Of course, millionaire Jay Leno has come a long way since then. He may not be spending money on his clothes, but he has more than made up for it with his expensive car collection. After retiring from the Tonight Show, he had his own series called Jay Leno’s Garage where he presented his amazing collection.
2. Graham Stephan – Shop Coffee
YouTube has been a gold mine for young stars and content creators to reach a large audience and, of course, make money. While there are several YouTubers who manage to make a decent living from their channels, only a few have achieved millionaire status. Graham Stephen, a real estate agent who became YouTuber, is one of them. Its annual revenue, including YouTube and several other sources, is approximately $ 1.6 million.
Stephens uses his experience in finance to give his followers useful advice on everything related to money. One of his most famous advice, and one he himself follows, is to give up the habit of buying coffee in places like Starbucks and Coffee Bean. His criticisms of these extra-billing locations are well known. He’s right, because a cup of tea can cost you between $ 1.5 and $ 5 depending on where you buy it.
Compared to the meager 20 cents, it will cost you to make one at home, it’s a ridiculous price to pay.