The Millionaire Next Door book is one of my all time favorites on personal finance. It objectively contrasts the financial well being of a surgeon and a plumber. On the surface, people would incorrectly assume that the surgeon had more financial resources, but in reality, it was the self-employed plumber who was more financially sound because he exercised frugality, lived within his means and was not trying to impress anyone with his “stuff.” The authors of the book discovered that true millionaires live well below what they could technically afford – my favorite quote from one of the millionaires they interviewed, after offering him an expensive beverage: “I drink two kinds of beer – Bud Light and Free.” I like that.
Recently, I had the good fortune to meet a real “Millionaire Mommy Next Door” with a similar story, who actually lives near me in Northern Colorado. Before becoming the mother of an adorable girl, she was a dog groomer and her husband is – guess what – a plumber (just like in the book!). Neither of these are notoriously high paying professions, but their financial success just goes to prove that anyone who is financially literate and follows some simple steps can achieve financial freedom, allowing them to live the life they want.
Millionaire Mommy Next Door has actually created a blog to “share her recipe for success, happiness and financial freedom,” which also got her an appearance last year on the Montel TV Show (she also has a book deal in the works). Her current articles cover their move to being renters in a “resort style” community, a strategy that will actually save an additional $4,000 per year – very smart! I like her story and just wish that more people would heed her advice. Check out her blog to learn more:
http://millionairemommynextdoor.blogspot.com/
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