Money Archives

The Frugal Millionaire: More Common Than You Think

What are the habits of the frugal millionaire? Why are there so many frugal rich people? The frugal millionaire next door shuns an extravagant lifestyle and instead practices frugal habits such as living below your means, budgeting, and saving money. There are many frugal rich people because they didn’t get rich through wasteful spending, they got rich by smartly investing their money. Read more to discover the habits and quirks of the frugal millionaire.

How an Inheritance From Your Parents Hurts You

How Inheritance From Parents Affects Adult Children

How does inheritance from parents affect adult children? How do you teach your adult children independence and financial responsibility? Inheritance from parents makes less capable, unemployed children more dependent, while adult children that got no inheritance from parents are more likely to take risks and accumulate wealth. You can teach your children financial independence by teaching them the values of frugality, discipline, and independence. Learn how inheritance from parents affects adult children, and what parents can do about it.

The Effects of Taxation on National Production

What is the role of taxation in an economy? Under what circumstances does raising taxes hinder the economy on the national level? Some tax-funded projects are essential to keep the country running. But when the government uses taxes to fund projects and pay wages that are unnecessary, the consequences begin to outweigh the benefits. In this article, we’ll consider the effect of taxation in the context of public works funding.

Start Working for Millionaires and Get Rich Too!

How Working for Millionaires Can Make You Rich

How can working for millionaires make you rich? What are the professions that serve the wealthy? Working for millionaires can definitely make you rich because they spend a lot of money to get professional advice and services important to them. Lawyers, accountants, fund-raising experts, and healthcare specialists are some of the professions in demand among the wealthy. Read more to further discover how working for millionaires can help you boost your income.

Parity Pricing Strategy: The Unintended Consequences

What is parity pricing? How does the parity pricing strategy influence employment and national wealth? Parity is the notion that farmers must be paid on par with the cost of industrial goods and farm equipment. According to economist Henry Hazlitt, parity pricing hurts consumers and decreases national wealth. In this article, we’ll take a look at how the parity pricing strategy works and why it can hurt the consumer.

How Self-Made Millionaires Made Their Fortune

Why are there so many self-made millionaires? What are the millionaire businesses that made self-employed millionaires rich? There are many self-made millionaires because entrepreneurship is very important for creating and preserving substantial wealth. Millionaire businesses are typically in dull industries like Auto parts, consulting, real estate development, and others that are not unusually susceptible to economic downturns. Read on to discover the secrets of self-made millionaires.

Mastering Investments and Taxes To Build Wealth

How can mastering investments and taxes help you build wealth? How do investments affect taxes? Mastering investments and taxes helps you minimize your taxable income and grow your wealth. Investments minimize taxes because you don’t have to pay taxes on your capital gains until you actually sell your assets. Read more to discover the importance of mastering investments and taxes.

Budgeting and Planning: Essential for Wealth

Budgeting and Planning: Why Is It So Important?

Why is budgeting and planning important? Can financial planning and budgeting help you build wealth? Budgeting and planning is important because it helps you accurately set goals, track your spending, and plan your investments. Budgeting and planning ensures the funds you need for wealth-building investments are available when you need them. Read on to learn more about the importance of budgeting and planning.

American Hospital Bills: A Peek Behind the Curtain

How do hospitals bill for their services? Why does hospital care cost so much more in America compared to other developed countries? American hospital bills can get exorbitantly high because the pricing practices are designed to maximize billing to the point of what’s acceptable. Hospitals can even add optional services without necessary patient benefit—using ultrasound to inject steroids in a knee adds $300. This article takes a look at the hospital billing system in America and gives some practical recommendations on what you can do to reduce your bill.

The Top 4 Habits of Millionaires You Need to Know

What are the habits of millionaires? Can you adopt the habits of rich people to become a millionaire? The top habits of millionaires are frugality, excellent time management, stock investments, and a tendency to shun high-status vehicles. You can also become a millionaire if you are willing to control your spending and focus on building your wealth. Read more to discover the habits of millionaires that made them rich.