Get Lucky by Saving a Penny
Posted by Amir Lehrer
Everyone has heard the saying, “a penny saved, is a penny earned”. I know I grew up hearing it. I always took it too literally and thought of it as just being pennies. I often thought to myself, who cares about a few pennies, they are all over the place and pretty much worthless. There has even been talk about getting rid of the penny altogether since it costs more to make a penny that it is actually worth.
Today I started reading the book “The Millionaire Next Door” and something clicked. It is pretty obvious now that I think about it but it is worth mentioning. The book is a research study on the typical millionaires in the
The point that really got me was that the average millionaire is frugal and his wife is even more frugal that he is. One story in the book has a person hand over $8 million worth of stock in a company he just took public to his wife and she thanked him and went back to cutting her coupons to save a few cents off of her weekly shopping.
One of the ways to be successful is to think big. Take the smallest concepts and think of them in the biggest terms possible. Instead of making a few hundred dollars on a rental apartment, you can think big and make thousands on an apartment building. When thinking of the saying “a penny saved is a penny earned”, think of it in as big terms as you possibly can and you will get rich. If you are always saving every penny, over time, you will get rich. It may not be tomorrow but one day it will happen.
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