Did you know that most wealthy people don't drive luxury cars? It's not all Lamborghinis and Bentleys. For many, the most likely cars are Toyotas, Hondas and Fords. You might be surprised at other millionaire habits more frugal than you'd expect.

In this podcast, we're going to talk about the habits of millionaires, because understanding what millionaires do can help you follow in their footsteps.

Host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. Today's special guest is Sarah Fallow, daughter of Dr. Thomas J Stanley, the author of The Millionaire Next Door and the founder of DataPoints, a company that looks at data surrounding self-made millionaires.

Before we start, remember this isn't financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn here.

You can download the episode wherever you get your podcasts:
Listen on Apple Podcasts
Listen on Google Podcasts
Listen on Spotify

Learning about millionaire habits

There are some you can learn from millionaires that can guide you to your own version of wealth. If you want to learn more about The Millionaire Next Door, Brandon Gaille offers a quick summary. We also found some great quotes on Good Reads from the book. One great quote: "Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighborhoods."

If you're looking for some more resources on becoming a millionaire, we have great articles on Money Talks News:
How to Become a Millionaire, Guaranteed
9 Millionaire Habits You Can Learn From
13 Smart Habits of Millionaires You Should Adopt
The 10 Golden Rules of Becoming a Millionaire
14 Myths About Becoming a Millionaire
Where Do Millionaires Keep Their Money?
6 Money Secrets of Self-Made Millionaires
5 Surprisingly Simple Ways to Become a Millionaire
9 Millionaires and Billionaires With Surprisingly Frugal Habits

Building a foundation for becoming a millionaire

As you work toward becoming a millionaire, you need a solid financial foundation. We have plenty of resources on this website to help you learn about saving and investing, as well as smart spending. Take a look:
Start Building Serious Savings With a Pay-Yourself-First Strategy
5 Effortless Ways to Boost Your Retirement Savings
How the Secure Act Could Make or Break Your Retirement Savings
The Pros and Cons of Dividend Stocks for Retirement Savings
Frugal Living Guide: How to Have Less Stuff and Save Money
10 Ways to Change Bad Spending Habits and Save Money
9 of the Best Ways to Save Money on a Tight Budget
How to Choose Between Active and Passive Investing
9 Tips for Sane and Successful Stock Investing
The Lazy Person's Guide to Flawless Investing
How to Find the Best Dividend Stocks, Step by Step
8 Budgeting Questions to Keep Your Spending in Check

Meet this week's guest, Sarah Stanley Fallaw

Sarah Stanley Fallaw, Ph.D. is the author of The Next Millionaire Next Door and the founder and President of DataPoints LLC, a behavioral assessment advisortech company. In her role at DataPoints and her research, Dr. Fallaw continues the study on self-made wealth begun by her late father, Dr. Thomas J. Stanley, author of The Millionaire Next Door. Dr. Fallaw's research on the psychology of wealth has been featured in numerous conferences and publications, and she consults with firms worldwide on measuring client money personality.
Website
Twitter
LinkedIn

Don't listen to podcasts?

A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle.

You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS.

If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did!

About the hosts

Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

Did you know that most <a href="https://finance.yahoo.com/news/not-living-life-impress-others-140000227.html">wealthy people don't drive luxury cars</a>? It's not all Lamborghinis and Bentleys. For many, the most likely cars are Toyotas, Hondas and Fords. You might be surprised at other millionaire habits more frugal than you'd expect.
In this podcast, we're going to talk about the habits of millionaires, because understanding what millionaires do can help you follow in their footsteps.
Host <a href="https://www.moneytalksnews.com/author/stacy/">Stacy Johnson</a> is joined by financial journalist <a href="https://www.moneytalksnews.com/author/mirandamarquit/">Miranda Marquit</a>. Listening in and sometimes contributing is producer <a href="https://www.moneytalksnews.com/author/aaronfreeman/">Aaron Freeman</a>. Today's special guest is Sarah Fallow, daughter of Dr. Thomas J Stanley, the author of The Millionaire Next Door and the founder of <a href="https://datapoints.com/">DataPoints</a>, a company that looks at data surrounding self-made millionaires.
Before we start, remember this isn't financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn here.
You can download the episode wherever you get your podcasts:
<ul>
<li>Listen on <a href="https://podcasts.apple.com/us/podcast/money/id1465774878">Apple Podcasts</a></li>
<li>Listen on <a href="https://www.google.com/podcasts?feed=aHR0cHM6Ly9hcGkucG9kY2FjaGUubmV0L3Nob3dzL2ViYzg4ZWYxLTczYmUtNDU4MC1hYmFiLTQ4M2FkYjQ0ZDA5Yy9mZWVk">Google Podcasts</a></li>
<li>Listen on <a href="https://open.spotify.com/show/4XzsoL58984FkzefrRay0c">Spotify</a></li>
</ul>
Learning about millionaire habits
There are some you can learn from millionaires that can guide you to your own version of wealth. If you want to learn more about The Millionaire Next Door, <a href="https://brandongaille.com/the-millionaire-next-door-summary/">Brandon Gaille offers a quick summary.</a> We also found some great <a href="https://www.goodreads.com/work/quotes/5210-the-millionaire-next-door-the-surprising-secrets-of-america-s-wealthy">quotes on Good Reads</a> from the book. One great quote: "Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighborhoods."
If you're looking for some more resources on becoming a millionaire, we have great articles on Money Talks News:
<ul>
<li><a href="https://www.moneytalksnews.com/how-to-become-a-millionaire-guaranteed/">How to Become a Millionaire, Guaranteed</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/9-millionaire-habits-you-can-learn-from/">9 Millionaire Habits You Can Learn From</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/13-smart-habits-of-millionaires-you-should-adopt/">13 Smart Habits of Millionaires You Should Adopt</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/the-10-golden-rules-of-becoming-a-millionaire/">The 10 Golden Rules of Becoming a Millionaire</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/14-myths-about-becoming-a-millionaire/">14 Myths About Becoming a Millionaire</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/where-do-millionaires-keep-their-money/">Where Do Millionaires Keep Their Money?</a></li>
<li><a href="https://www.moneytalksnews.com/8-money-secrets-of-self-made-millionaires/">6 Money Secrets of Self-Made Millionaires</a></li>
<li><a href="https://www.moneytalksnews.com/7-surprisingly-simple-ways-to-become-a-millionaire/">5 Surprisingly Simple Ways to Become a Millionaire</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/millionaires-and-billionaires-with-surprisingly-thrifty-habits/">9 Millionaires and Billionaires With Surprisingly Frugal Habits</a></li>
</ul>
Building a foundation for becoming a millionaire
As you work toward becoming a millionaire, you need a solid financial foundation. We have plenty of resources on this website to help you learn about saving and investing, as well as smart spending. Take a look:
<ul>
<li><a href="https://www.moneytalksnews.com/slideshows/start-building-serious-savings-with-a-pay-yourself-first-strategy/">Start Building Serious Savings With a Pay-Yourself-First Strategy</a></li>
<li><a href="https://www.moneytalksnews.com/5-effortless-ways-to-boost-your-retirement-savings/">5 Effortless Ways to Boost Your Retirement Savings</a></li>
<li><a href="https://www.moneytalksnews.com/how-the-secure-act-could-make-or-break-your-retirement-savings/">How the Secure Act Could Make or Break Your Retirement Savings</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/the-pros-and-cons-of-dividend-stocks-for-retirement-savings/">The Pros and Cons of Dividend Stocks for Retirement Savings</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/frugal-living-guide-how-to-have-less-stuff-and-save-money/">Frugal Living Guide: How to Have Less Stuff and Save Money</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/10-ways-to-change-bad-spending-habits-and-save-money/">10 Ways to Change Bad Spending Habits and Save Money</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/the-best-ways-to-save-money-on-a-tight-budget/">9 of the Best Ways to Save Money on a Tight Budget</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/how-to-choose-between-active-and-passive-investing/">How to Choose Between Active and Passive Investing</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/tips-for-sane-and-successful-stock-investing/">9 Tips for Sane and Successful Stock Investing</a></li>
<li><a href="https://www.moneytalksnews.com/the-lazy-persons-guide-to-flawless-investing/">The Lazy Person's Guide to Flawless Investing</a></li>
<li><a href="https://www.moneytalksnews.com/how-to-find-the-best-dividend-stocks-step-by-step/">How to Find the Best Dividend Stocks, Step by Step</a></li>
<li><a href="https://www.moneytalksnews.com/slideshows/8-budgeting-questions-to-keep-your-spending-in-check/">8 Budgeting Questions to Keep Your Spending in Check</a></li>
</ul>
Meet this week's guest, Sarah Stanley Fallaw
Sarah Stanley Fallaw, Ph.D. is the author of The Next Millionaire Next Door and the founder and President of DataPoints LLC, a behavioral assessment advisortech company. In her role at DataPoints and her research, Dr. Fallaw continues the study on self-made wealth begun by her late father, Dr. Thomas J. Stanley, author of The Millionaire Next Door. Dr. Fallaw's research on the psychology of wealth has been featured in numerous conferences and publications, and she consults with firms worldwide on measuring client money personality.
<ul>
<li><a href="https://datapoints.com/">Website</a></li>
<li><a href="https://twitter.com/sarahfallaw">Twitter</a></li>
<li><a href="https://www.linkedin.com/in/sarahfallaw/">LinkedIn</a></li>
</ul>
Don't listen to podcasts?
A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle.
You can listen to our latest podcasts <a href="https://www.moneytalksnews.com/podcasts/">here</a> or download them to your phone from any number of places, including <a href="https://podcasts.apple.com/us/podcast/money/id1465774878">Apple</a>, <a href="https://open.spotify.com/show/4XzsoL58984FkzefrRay0c">Spotify</a>, <a href="https://radiopublic.com/money-6rRgm9">RadioPublic</a>, <a href="https://www.stitcher.com/podcast/money-talks-news/money-104">Stitcher</a> and <a href="https://api.podcache.net/shows/ebc88ef1-73be-4580-abab-483adb44d09c/feed">RSS</a>.
If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did!
About the hosts
Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

Money Talks News: The Podcast

7 Millionaire Habits You Can Adopt Today

https://api.omny.fm/orgs/67ee9ddc-11a3-4cec-841d-ac9a015d5b41/clips/47beef9d-e3f8-4613-9e4e-b0220146d059/transcript

Transcript

Advertisement