One of the best books on frugality I have ever read is “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko. This book was published in 1996, but it contains timeless principles on frugality, wealth and financial freedom that ring true even decades later.
I came across this book years ago because the death of Thomas Stanley from a car crash was in the news. What really struck me was the outpouring of gratitude from millions of people who read his co-authored book.
This book really surprised me when I read it. This book correctly identifies millionaires as being cheapskates, not the overspending stereotypes we are used to hearing about. It talks about how high income earners can go broke by overspending, and how those with modest incomes can achieve millionaire status by being frugal.
“The Millionaire Next Door” should be required reading in school. I know it sounds like this book does not belong in /r/frugal, but I think that the themes inside it really should resonate in this subreddit.
Posted by LindaJDostal
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