Quotes
People can accidentally become a millionaire. It happens all the time.
True or False
False
Frank lived with his parents and grand parents growing up. Not only were they hard workers, they were also what______________.
Frugal spenders.
A majority of millionaires carry a balance on their credit card to maintain a good credit score.
True or False
What is false. 96 % of millionaires do not carry a credit card balance.
What is a "money leak"?
Little holes and cracks in your spending habits that let your money leak out of your wallet. Without you even knowing what is going on.
Consider what you already know about saving. What are some reasons you should be intentional about saving money. What should you save for?
You can save for emergencies, large purchases, and to build wealth- to become a millionaire.
"Instead of drifting through life, you're hopping in the driver's seat with your GPS locked on your destination."
Is this deciding or sliding?
Deciding.
When asked why Frank thought there weren't more millionaires, he said " Too many people are more worried about ____ __ ____ ___ _____, than leaving a legacy for their own children.
keeping up with the Joneses.
Millionaires don't need to make a shopping list and most of them don't because they can buy anything they want anyways. What millionaire has time to sit down and make a list?
True or False?
What is false. 85% of millionaires make a shopping list.
Sometimes being broke is not a money problem. It is a __________ problem.
Behavior problem. And is one that you have the power to change.
What does living on less than what you make mean?
Not spending more money than you actually have. Such as using credit to buy things when you don't have enough cash. It is an intentional decision to spend less so you can save more.
You're just going with the flow, drifting wherever the current takes you. You aren't in control of anything, you aren't directed toward anything, and you have no idea where you'll end up.
Is this deciding or sliding?
Sliding
93 % of millionaires do not stick to their budget.
True or false
What is false.
"It is rocket science to live on a budget and stay out of debt."
Who said this?
No one, it is not rocket science.
In the does a budget give you restrictions or freedom.
It can give you financial freedom from debt.
Intentionality. Without being intentional, you wont reach millionaire status. You must have a plan and make saving a priority and habit.
Billionaires are surprised by where they end up.
True or False?
False, they work towards this their whole lives. Being intentional with all of their decisions.
What percent of the general population live on less than what they make?
10% or 55%
55%
Millionaires think it is silly to use coupons. True or False?
Some financial advisors can give bad advice. True or false?
True
What percent of millionaires surveyed plan ahead and save for large purchases.
95% save and pay cash rather than credit.
This article uses two words to describe intentionality. What are those words and what do they mean?
Deciding - conscious act
Sliding- going with the flow
Millionaires will spend over $200 a month eating out because they are too busy to cook, because they are taking care of their businesses. True or False
False, a typical millionaire spends less than $200 a month at a restaurant.
51% of millionaires believe that the top factor holding people back from becoming millionaires is ______________________________.
a basic lack of financial discipline.
Millionaires don't ___________ live on less than they make. They do it on purpose.
accidentally.
Only _____ percent of millionaires feel the pressure to keep up with their friends.
1% or 7%
7 % . Most are content to have older cars, modest homes, and $35 dollar jeans.