Yes, recently I read a blog post from FrugalDad where he discussed that members of The Tiger Club, exclusively for DecaMillionaires, are very particular about BUDGETING their money. In fact, they usually spend only SEVEN percent or less of their decamillions on expenses annually!
They also know to almost the penney how much they spend for household, clothes, transportation, utilities, etc. Unfortunately the lower percentile of wealth do just the opposite. They spend and spend and most have a negative networth. They abuse credit cards thinking they are Fortuna’s never ending purse. They also are the ones that spend even the baby’s food money on lottery tickets and other forms of gambling.
So as a DecaMillionaire In-Training start BUDGETING ASAP!