Guess who's cheap? People who know a lot about money

[jeffrey]

Chances are, if you've spent your life studying how money and economics work, or if you've been fairly successful at actually making money and compiling it in a bank account, you're a cheapskate when it comes to food, wine, cars, homes, clothes, and nearly everything else.

"Economists are often cheapskates," writes the WSJ. In terms of food, for example, they routinely shop in discount grocery stores and buy cheaper, generic brand foods rather than recognized national brands, according to much anecdotal evidence...

Guess Who’s Cheap? People Who Know Lots About Money - It's Your Money - TIME.com

[disneysteve]

No surprise here. This goes along with what was documented years ago in The Millionaire Next Door. I've always found it to be ironic that the people who need to watch their money the most seem to be the ones least likely to do so.

[am_vanquish]

Originally Posted by disneysteve

No surprise here. This goes along with what was documented years ago in The Millionaire Next Door. I've always found it to be ironic that the people who need to watch their money the most seem to be the ones least likely to do so.

Thomas Stanley has been stirring up several articles similar to this one lately to publish his new book, "Stop Acting Rich". I think I saw a NY Times article featuring his work on average home values of millionaires a couple weeks ago. I haven't read it yet, but I'm a fan of his work & it's quickly rising on my list of books to read.

[Saving_spree]

It is mostly seen that they are....

[rob62521]

I think most of know the value of living below our means, at least the Saving Advice folks.

[LivingAlmostLarge]

Theres' a difference between being cheap and living below your means. Cheap is making everyone else pay for it. hoosing to live below your means and not expecting others to pay for it is fine.

[Mike75]

Originally Posted by disneysteve

No surprise here. This goes along with what was documented years ago in The Millionaire Next Door. I've always found it to be ironic that the people who need to watch their money the most seem to be the ones least likely to do so.

Yup! As they say, the people who claim "money is not important for me" are normally the ones who don't have any.