I have known several millionaires in my lifetime. I’m talking about people with enough money to burn a wet horse - a Texas phrase for a whole bunch. The one thing that millionaires seem to have in common is not how much money they earn. It’s about how much money they spend.
In one of my previous lives - different jobs - I worked for a man that had millions, when millions were worth a lot more than they are today. One day I got a seven page letter from him chewing me out for a seven dollar expenditure. Understand, this was in ancient times so this man had taken the time and dictated the letter to his private secretary. When I read the letter, I was furious. Then I thought about what he had to say.
He explained to me that it meant nothing to spend $7.00 in the grand scheme. But, how many $7.00 do you spend? The letter went on to point out there is no thought given to such a trivial amount and therefore it is the most dangerous money spent. In little or no time, small amounts like this amount to hundreds, then thousands and even more over a period of time.
In my job, I had to submit monthly reports on income and expenses. The next month I spent thousands on one item. He sent me a note praising me for the fine judgement I had used in making the purchase. Because, I had taken time, done my research, carefully weighed my options and made the best deal on the item.
I wonder just how much money individuals and government could save if they refused to make the small expenditures made every day?
I know in my wife’s case, it could be thousands - maybe billions. That’s probably why I am not a millionaire.
PMO
©2010
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