Have you ever noticed how millionaires and billionaires are acting with their money? People who are worth millions of dollars are being frugal and this is a habit you might want to adopt. Because becoming rich is only a half way, what is more important is keeping your wealth and making it grow. These pieces of advice will help you to develop a frugal mindset.
Do your best to avoid debts. This sometimes can be hard, especially if you are launching new business. But this also means avoiding using credit cards. Using them might be tempting, but before you do think about how much you will overpay for using it. While credit can be a really useful money management tool in retirement, giving us freedom to do things for ourselves and the people we care about, it can also leave us in a debt trap if we don’t use it carefully.