The 7 Habits of Millionaires 

#2 and #3 are key, which leads to the others on the list.

seriously. people really need to get over the mindset of eating out is cheaper than cooking at home. or quicker. neither of which is true. and restaurant prices are only getting worse.

@@kingsgold Yes, while the quality of served food is getting worse and worse. Yet here i am, eating out way to often. :(

Totally agree, my dad is a chef and taught me how to cook all kinds of different food! The only times I order food is when i'm too sick to be in the kitchen lol! It's a nice creative outlet and stress reliever for me as well.

@@kingsgold Or it is that much better, you can cook pretty tasty food at home for 1/4 of the price.

Exactly, I am not a great cook but cook pretty decent tasty meals. There are so many products on the market, even if you want to do low effort cooking like me, you just need to find or buy food you enjoy or can eat over and over and don't mind it. It's really not hard to come up with a hand full of recipes. RU-vid has many easy to cook meals, you can get really creative without it taking too much time. If you enjoy cooking, the sky is the limit. I rarely eat out. when I look at food, I calculate how many meals I can get out of a product.

Don't forget to look at the scale either

Me too! 🎉🎉🎉

🎉🎉🥳🥳

Who just buys things because they are on sale?

This one is so crucial!! Been saying this since I was old enough to know what a sale does 😂 I can’t bear to watch people throw away money for the sake of “saving”

if I don't have prostitute problem then I would be very rich now, addicting to hiring escort has made me shun interaction with real women.

Airbnb is a good investment but it requires capital, I'm in it too, it's good but crypto trading has been the main source of my income even though I barely trade. I earn a minimum profit of 4,500 dollars from my cryptocurrency trading investments

I work with an expert Larry Kent Burton, his consistency in making profits makes him exceptional compared to other traders. I appreciate his services

He's on Instagram***

@ Larry Kent Nick Trading **

I also work with him, it's very impressive, meeting this man was a blessing, I never thought I would make so much profit in such a short time, that's why I call him most of the time a wizard, his services are reliable

Good reminder...thanks!

@caseymuller3480 I'm also a professional. I'm interested in learning more about *Robin Brezik* . What do she do exactly?

@caseymuller3480 That sounds impressive. How do you know she is Authentic and qualified?

@caseymuller3480 Thank you for sharing your experience with me. I think I will give check her out and see what she can do.

I was thinking the same thing with a family of 4 eating mostly at home with meat, fruit, and veggies.

Even for 2 it’s hard without driving to 4-5 stores in crowded city

Winn-Dixie used to have buy one get 1 free meats, miss those days. Now still have some deals, but it's junk food or sodas, both waste of $

The Ramsey people like to pretend inflation doesnt exist and it just an excuse to be poor.

Family of 6 here, monthly food budget is $1,500. Unless you live on junk food, you can’t survive on $400 per month.

Gold and copper remains the best investment to venture in, especially as a beginner, it’s not always affected by the downturn of the market

Finding financial advisors like Patricia strain who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

Can also look upto her on web

Patriciastain

Telegramms

Yes it's been helpful to my general income, I make about an extra 3k from my investment portfolio

Wow that's awesome I'm really excited about this how do I get started

There's a lot of investing options real estate, stocks, crypto, ETFs but my best advice get a professional lead you into profitable one and make good financial decisions

Ok how do I get a professional to guide me through the process can you recommend one ?

I recommend Rachel Blanc, she's a good one I've been working with her for a good time

This is spot-on. My husband and I spend about $800 monthly on food.

You eat to much I guess.

That is definitely high. My wife and I are under $400 together

@@morbotheturtle3796 Same here the wife and I are also under $400mo

That's crazy high. Do you live in an expensive area or something? I feel like I would have to work hard at spending that much on groceries.

Plan for the week ahead breakfast, lunch and dinner plus snacks by cost. Your groceries and home products have to fit into the budget. Also never shop when hungry.

I'm not Michael Jackson. I am not going to change a part of my anatomy to make anyone happy. The gap in my teeth is not a deformity. It's just wide enough to fit your girl's clit. Please don't cancel me 😂 your girl is into it.

Sounds like you are doing awesome! (And actually, your bell bottoms weren't that impulsive: You've wanted them "for awhile", you "checked your budget" - nothing wrong with that if they fit in the budget!)

Do you have a mortgage? A car loan? You have many kids so I am not surprised. My husband and I have 2 kids and we are spending $1,200 a month (not including pediatric formula, which costs us between $200 to $250).

@@IrisP989 Hi Iris. I have a mortgage. That’s all. We have 6 cars, a tractor, ATVs, trailers, etc. and they’re all paid off. All of our investment properties are paid off too. My hesitation is that I want to buy my neighbors 3400 sq ft home on 5 acres, which according to Zillow is worth about $900k. I have enough to pay cash for that, but not to bug that and pay off our ranch at the same time. Also, I leave about $400-$500k in my C-Corp each year. I suppose I could take it out and pay my home off, but I didn’t want to pay all the taxes, so I’m just leaving it there. My interest rate is 3.99% and the payment is $3400 a month. That’s only 2% of my monthly income, so I’m not really worried about it. Raising boys is a fun task!!!

How many years do you have left on that mortgage? We have two mortgages (one house is a rental). One at 2.99% and the other at 3%. My husband doesn’t see the need to rush to pay them off if we can invest instead and the rental can be sold anytime (over $450K equity). The total of the loans is high but we managed to purchase these homes on a one 6 figure income in a high cost of living in CA and their market value nowadays in total is close to $2M. Both of our kids are boys so it’s fun and can be challenging at times too haha.

@@IrisP989 our home is also in CA, east of Sacramento towards Lake Tahoe. We have 16 acres and a 4200 square feet, and I work mostly out of my Roseville, CA office. The out buildings at our home are barns, shops, etc. We bought it in 2019 but left it empty for 18 months until we moved in during COVID. We still have about 25 years left if I keep paying traditionally. I haven’t chose to pay it off because the upkeep has been a lot. We spent $120k on fences in 2021 to keep the animals in and the predictors at bay, and maybe spent as much on barns and landscaping. I still want to remove an older pole barn and build a 60x40 steel shop. My wife wants to remove part of the roof of our home and build out 2 more rooms and another deck. I have cash flowed all of our projects, so I haven’t been throwing extra on the mortgage yet. I understand your husbands perspective. That’s actually very common. I talk about those sorts of decisions almost every day as a Financial Planner. There is absolutely a level of peace that comes from having a paid off home. That peace has value, and it’s difficult to quantify what that’s worth vs. the potential of investment gains. I believe that women often value the peace more and men value the investment gains more. Just this week I had a meeting where a client couple of mine is receiving a $671k check from the PGE Fire Victims trust due to their home burning down in a wild fire up near Chico (Paradise, CA). The husband wants to invest it all. The wife wants to pay off their $171k mortgage. As their advisor, I suggested a compromise, and I think it’s something they can both support. We decided to invest it, but let their new investment expedite the payoff of their home. If it gets an 8% per year gain, that would pay their home off in just about 3.5 years, and the wife’s budget would no longer have a mortgage payment as we would be paying their loan from their investment account. If it grows like the husband wants it to, it may still have $671k in 3.5 years, or could have even more. I thought this was a good middle ground, and they both felt good about it. Haha. Another marital conflict averted!!! Maybe a strategy like that would work well in your situation??

Less is more

Agreed, I think they are trying to appeal to a younger audience

Agree

Stock and shop method

Very nice. If I ever go out for a burger, I never order with cheese. I bring my own

Interesting. I guess it's all about priorities...I only want a decent car that is (as close as possible to ) 100% reliable; uninterested in the maker's name or fancy technology. But if I go out to eat, it's an "experience" with a friend; I usually want to savor it with excellent conversation and not rush. I don't mind paying a tip. You are clearly the opposite!

@@cashflow68 Hilarious...you save, what...$1? Nothing wrong with it, just strikes me as a funny way to save a little money. Do you, like, carry it in your pocket? Do you decide what you will order before you leave home or carry it "just in case"? And what about other condiments, like tomato slices or lettuce? Do you do that with them as well?

@@dking1362 yep. I can't enjoy a meal if I feel like I'm eating $50, I don't care who it's with. Something's gotta give to justify the McLaren, lol.

@@XennialGuy LOL! (And I rarely spend $50 on a dinner out, either....maybe $25). Enjoy the car! It would probably fill you with disbelief to know I have to use Google Images to find out what a McLaren looks like!

Dude.....this is about habits to become a millionaire when you're older, not being a millionaire right now. I have six kids with a single income as a teacher and our grocery spending is more than yours, but still investing little by little, so when my wife and I are old, we will be millionaires (only if the economy continues to grow, it is still a risk).

I'm barely a millionaire and I shop at Aldi. About $160/month for a household of 1, so we're on the same level per person... though I'm guessing everyone in your household doesn't have the nutritional needs of a slightly active mid-30s male. It's probably worth noting that those grocery numbers are almost certainly a bit stale, prior to recent inflation making everything significantly more expensive. And yeah, it's probably closer to a 2 person household on average.

@@adambarlow81 so irresponsible having that many kids on your income.

@@ordinaryhuman5645 you must not be that active because I’m an ex D1 athlete that spends 10 hours a week working out and I spend at minimum $120-$150/week on high quality groceries just for myself. I am also a millionaire

Made it to millionaire by 45 with 2 kids at home. Start early, get/stay out of debt and invest. Compounding interest add up in the investors favor :) We shop local and at Aldi and I agree, things are expensive! That's why it's so important to budget every single month. EveryDollar has been a blessing!

Ahh yes. Let’s donate 100 dollars to save $24.00 Big brain energy

@@macsc5497 You're missing the point though. If the video says be generous: if you're going to be generous anyway, might as well get some extra benefit from it. So to use your example, if I was going to give my $100 anyway, I'm still getting $24 back. Big brain energy SMH

@@user-pe3wc7uv4b I won't lie, I have been known to give more money away at the end of the year to avoid sending it to the government. Yes, I would rather give $100 to save sending them $24! Also, we're sometimes closer to the next bracket and you better bet I'll give it away rather than sending it to them. We plan our giving each year but at the end if it's close, we're writing checks :)

Less than 300 on eating out per month that’s like going out 1 time per week which then makes that grocery budget seem low even for a house of 2

We reduced our eating out from about $200-$250 to $50 for 2 adults. Once a month. Also have a $1M plus net worth.

Nah I think it’ll be very much the same

@@TartarianTopG okay so the people who built their wealth with e-commerce & social media, etc doesn’t play a part for you at all?? 40 years ago most people worked 9-5’s so the process for building wealth was different. The next 40 years we have internet, e commerce, crypto, trading, wayyy more options for making money. It will absolutely be different.

That seems high to me-we have 5 kids, 4 are boys who play sports age 13 and younger. My husband and I lift weights and need high protein, we eat organic, no packaged or processed food and spend 1,400mo in Cali. This is separate from restaurant category. Every place and family is different of course, but I didn’t think his numbers were off. Check out freezer to family (not affiliated) if you want dinner tips. There’s a one time fee that has saved us a lot-in just the first month.

Constant overtime is stressful and fatal to human health

Great idea! I do that sometimes, too - write it on a list, then look later to see if I still think I really need or want it. Thanks for the reminder; I need to do this more often!

Not true. Surveys and studies show that 90% of millionairs have kids in the house on avg 2

No brainer, your kids college fund will return more than the interest you are paying on your home. Build the college fund.

My sister calculated her mortgage payments to be done when ger daughter was a senior in high school. If there was any extra on the budget, it went to the college fund. Then, they cash flowed college with the money they were previously putting to pay off the mortgage early, plus, they had all the college fund money for any additional college costs.

You will want to talk to a financial planner but as macs said, you will likely see a higher return than your mortgage interest rate. Also there are tax benefits when you invest in college funds. But if you need the funds in less than 5 years, you may want to pay off the house. Some parents don't pay for their kids college and you're not required to!

Ideally you should get on a budget, get out of debt and pay for school in cash and scholarships :) If you take out loans, we encourage folks to pay them off as soon as possible. Good luck!

Not a financial expert, but I know this to be true: You will never regret having paid off debt. If you can make some progress now, do it! If you need to save for interview clothing, your first apartment, car repairs, then do that first. Good luck!

Totally agree. Great content but tedious format. It will appeal to a lot of people though

Still sounds a bit high. Should probably be closer to $150

Same