Millionaires tend to be more thoughtful about savings and financial decisions. Take that deliberate approach to every nook and cranny of your budget, and you can free up hundreds—or thousands—a year.
Are we missing opportunities to accumulate wealth because we fail to get our priorities right?
Sometimes I think it would be great to have a new car. Mine is thirteen years old and runs really well. It lacks many of the new gadgets but there’s a GPS and a backup camera I totally appreciate. Right now I know it makes more sense for me to ignore the allure of advertisements and keep the paid-for car I already own. That decision allows me the opportunity to accumulate more savings. Paying for a newer car would result in a missed opportunity I would regret in years to come.
Daily, we face temptations to spend impulsively. Maybe it’s simply an unplanned lunch with a friend. That’s harmless. Isn’t it? The little extras begin to add up. Before we know it, there isn’t enough money left over to fund our real financial goals.
Basic necessities can’t be pushed aside—wants can. Pay the light bill. Fill the gas tank. Don’t ignore medical care. Buy groceries. But keep extras within budgeted restraints. Eating out more than once or twice a week could keep us from attaining our goals.
Doing nothing is a sure way to end up poor. Millionaires don’t typically accumulate wealth by sitting in a chair wishing money would come their way. Wealth comes through hard work and careful planning. Most well-to-do folks set financial goals, make the most of opportunities that come their way, and regularly track where their dollars go. They know nickels and dimes add up to big bucks over time.
How we spend money unmasks our primary financial dispositions. What is yours? Frivolous. Hoarding. Impulsive. Generous to a fault. Stingy. Do your daily habits initiate wealth building opportunities or cause future missed opportunities?
Accumulating wealth relies on cultivating smart money habits. Think back to that first job. How important was budgeting? Was money spent impulsively or carefully? Did we clip coupons then—but not now? Did we once grow a vegetable garden, or borrow tools from a neighbor, but don’t do that today?
Take stock of missed opportunities. Did a job opportunity get blown off? Was an unexpected windfall squandered on short-lived pleasures?
Knowing the nooks and crannies of past spending habits is advantageous. With a keen eye on the bottom line, opportunities that lead to financial stability are much easier to see.
When a gentle south wind began to blow, they saw their opportunity; so they weighed anchor and sailed along the shore of Crete. Acts 27:13 NIV
