I mostly read non-fiction these days. Usually I stick to travelogues and historical accounts that generally are about the North Atlantic and, well, History. This year I made a point of starting to read business books.
"The Millionaire Next Door" isn't a book on business. It provides outstanding insight into how one should manage his or her personal finances through frugal spending. The authors aren't talking about investing in stocks. That is not the intention of the book. The key here is the word frugal. We live in a "high consumption" society and the temptation to spend on unnecessary items is way too high.
Using ample evidence (real life cases and consulting with millionaires), the authors drive home the point that a high income earner will not necessarily become a millionaire...and that guy driving the gleaming new Ferrari may not have enough to retire comfortably. Some of what the authors say may seem repetitive but their message works. They talk about everything from spoiled rich kids who have never managed to escape the influence of their parents to the tactics employed by those wealthy people when shopping for used cars.
My own spending habits (since I've finished reading the book) 3 months ago have changed considerably...for the better, I am sure. Because of its easy to understand format (the authors use plain English and no math), this book would make an interesting enough read for teenagers about to finish high school.
The Millionaire Next Door (Paperback) by Thomas J. Stanley (Author), William D. Danko (Author).
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