Recommendation of the Month · The Millionaire Next Door

Millionaire Monday: Chapter 3

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Its Millionaire time, time to refocus our minds towards improving our financial outlook.  This is the beginning of a new week of reflection, planning and implementation.  Our goal this week corresponds with the title of our next chapter -“Time, Energy, & Money” In honor of this title, I am disclosing my plan to obtain additional income for investing – I am scheduling time to make coffee at home, spending energy on packing and carrying my lunch and saving the money which would typically be spent for my daily coffee and meal.

It is my hopes that making these simple changes will provide me with additional revenue for investing.  I have also praised my mother for raising me to be economically dependent.  It is my hopes that we teach our children the lessons we are learning during this co-reading session.

I have been engrossed in World Cup Soccer and found myself delayed in posting today.  So without further adieu, here are this week’s questions for reflection:

1.  What is the most important component of wealth accumulation?

2.  What can Mr. Dennis teach us about wealth?

3.  True of False Planning & controlling consumption are not key factors to wealth accumulation

4.  How do PAWS allocate their spare time?  How do you allocate your spare time?

5.  What is the difference between Dr. North’s & Dr. South’s children?  Whose parenting style are you more like and what can you do to improve it, if any?

6. How are you allocating your time?  What activities are you partaking in to increase your wealth?

7. What is one disadvantage for being an employee in terms of wealth building?

8.  In terms of wealth building, what are the steps you should take in order to operate your household like a business?

I hope these questions are helping you as you journey on this road of self-improvement and financial planning.  This book focuses on the aspects of millionaires but it is also integral in helping you realize that anything is possible with a few lifestyle & behavioral changes. 

Til next time,
Things may come to those who wait but only the things left by those who hustle – Abraham Lincoln

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