Stay Financially Fit All Year Long

By Thomas J. Stanley on Jan 6th, 2015 in Mentor's Corner

Next year will be the 20th anniversary of the publication of The Millionaire Next Door.  It keeps on selling!  In fact there is a seasonal component in terms of demand for the book.  Why is it that sales seem to be highest the first few weeks after the Christmas/New Year’s festivities?  I believe that many buyers are frustrated by their recent hyper consuming activities in preparation for the holidays.  Some are dejected because they were unable for yet another year to save little of their hard earned income. 

But it takes more than the information in a book to become a wealth accumulator.  Most importantly building wealth takes financial discipline in a country highly populated with the undisciplined. 

I was recently reminded of the discipline issue in another part of life.  Nearly every day I walk my dog along a nearby “nature wonderland.”  It is very pleasant for walkers, joggers, cyclists, bird watchers, etc.  Typically is it not overcrowded, except for a few weeks after the holiday season.  I estimate that more than 80% of those exercising at this time are first timers.  The veterans like myself pretty well know each other and exchange “hellos and waves.” Nearly all the rookies, however, disappear over time.  I have often speculated that their eventual absence is a result of the pain associated with trying to become physically fit in a few days after a year of indulgences and inactivity.

So I would like to offer a little bit of advice.  Start trying to emulate the millionaire next door by staying financially fit all year long.   This includes budgeting, controlling expenses, and keeping an eye on your financial goals.

2 responses to “Stay Financially Fit All Year Long”

  1. Amir Homayoun Rafizadeh says:

    Loved all your books and still a big fan!

  2. […] How will you spend your time, emotions, and brainpower in the new year? From becoming emotionally involved in politics to the drama in what neighbors are buying, my father recognized that distractions could be a key source of why many struggle to become financially independent or achieve other goals. He gave us this advice on financial fitness last January: […]

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