Most Millionnire according to the millionnaire next door by stanley, lived a very low profile lifestyle. A lifestyle of a middle class people. Despite the fact that they can afford the most expdensive suit, footwear and vacations. Millionares put a very high regard on budgeting. They are tracking their money to very last centavo that they spend.
Budgeting is a way of life for them, budgeting is simple but not easy. I also am doing my tabulation and tracking down my expenses. It really has a good effect on how I manage my finances its my 3rd month now and i can compare my spending habits from the previous months and where i have adjustments to save first, invest second and spend the third.
I also have a daily alloted money for my daily expenses. I make sure that i dont exceed 50 pesos a day for my expenses for food and transportation at work. Although I have different expenses for food at home because i am living with my student assistant. But nevertheless I make sure I live within the alloted budget for the week.
My awareness of budgeting doesnt come out of nothing. When I join the Truly Rich Club by Bo Sanchez, I learned some easy ways to hold-on on my spending.
The very first thing I do when I receive my salary is to set aside specific amount for my stock market investment, tithes and savings. And spend the rest.