The Millionaire Next Door — A Giveaway

by Katy on August 23, 2010 · 60 comments

Are you under the impression that millionaires drive expensive cars, live in mansions and spend their days sipping champagne? Well then, you’re in for a bit of a surprise.

The Millionaire Next Door, written by Thomas Stanley and William Danko looks at research related to American millionaires and is not only an interesting read, but extremely informative. I read this book when I was first figuring out how to invest in my retirement account, which means I was 30 years old at the time. But despite the, ahem, 12 years since I read the book, much of it still remains with me.

Millionaires are more likely to drive older cars, you’re more likely to become a millionaire if you own your own business than if you’re employed by someone else, and (here’s the crux) millionaires live below their means.

This copy of The Millionaire Next Door is a second hand, but never read copy from Goodwill. It was a gift at one point, which I know because someone wrote this on the second page:

To: Jeremiah,

From: Cleto


Here is the essence of saving & accumulating wealth!

Apparently, this was not a welcome message, as the book appears untouched. πŸ˜‰

To win this copy of The Millionaire Next Door, write a little something in the comments section about money. It can be anything you wish, positive or negative, short or long. I will randomly choose a winner Wednesday, August 25th at midnight. U.S. residents only, please enter only once.

Good luck!

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without”

P.S. This book may look a little worn by the time you get it, because I’m kind of wanting to reread it.

{ 60 comments… read them below or add one }

Anne Weber-Falk August 23, 2010 at 5:17 am

Sometimes the thought of money makes me tired.


Steve H. August 23, 2010 at 5:38 am

Money is the solid land that even a good swimmer in the lake of minimalism has to be able to keep in sight and occasionally visit.

(not quite satisfied with that analogy–thanks for getting me started on this question of just what to say/think about money! )


Jen August 23, 2010 at 5:48 am

I like your blog. I love the idea of living simply instead of using tons of coupons to buy things I don’t need. Needing less is freedom to me.


Lee Ann Lenfest August 23, 2010 at 5:55 am

Don’t fall off track with budgets, keeping track of money spent and the like — especially for a long period time. Life caused me to use the excuse of not keeping on track (approximately nine months). I now wish I had forced myself to do what I needed to do because it is now HARD to get back on track. *sigh*


Nancy from Mass August 23, 2010 at 6:00 am

Your blog is one I read every day and I would like to win this book…I would pass it on to my brother after, who would probably pass it on to his daughter after that….who knows who will end up with it after her! See, the ultimate in frugality and non-consumerism if I win! πŸ™‚


laura August 23, 2010 at 6:15 am

I just discovered your blog this weekend-if you’ve checked your stats and wonder if you are being stalked, I confess…I working my way through the archives. πŸ™‚

I’m feeling very lucky right now…for the first time in our 20 year marriage my husband and I are on the same page regarding money-(spend less) and he’s finally joined me on the de-cluttering and living more simply quest–it’s really lightened up-we are actually moving into the smallest apartment we have lived in since we first married and it feels great.


Valerie R. August 23, 2010 at 6:17 am

We have been debt free for the first time in our marriage at the beginning this year. Its been great! My DH’s name is Jeremiah, so I think it would be appropriate for me to give it to him if I win. πŸ™‚


April August 23, 2010 at 6:22 am

My aunt just reminded me that my New Years resolution was no drive thru food. I was telling her about the great deal I found at BK of a egg, sausage and cheese breakfast sandwich for only $1 and I had been getting them on the way to work each morning. I had totally forgot about my resolution but am saving money because the McDonalds version is $2. I guess saving money on breakfast hasn’t been good for my resolution. Woops.


Jean Mittelstaedt August 23, 2010 at 6:33 am

Our neighbors would love to have a millionaire next door! Would love to see/win this!


Linda August 23, 2010 at 7:13 am

I must admit that I struggle with both living below my means and within my seams.


Tightwad August 23, 2010 at 7:33 am

Wish I could enter! But I will just reserve a copy at my local library. I love the idea of passing things like this on.


Samantha August 23, 2010 at 7:38 am

I would love to win this book! For the past 2 years my husband and I have been working our tails off to eliminate our debt and increase our wealth! πŸ™‚
I love your blog!


Rachel August 23, 2010 at 8:02 am

I’m learning money and stuff certainly don’t equal happiness but having more money means you can bless others!


Cyndel August 23, 2010 at 8:02 am

My newest interest right now is personal finance, and I’ve been wanting to read this book for awhile now. I do well with my money, but I still a few student loans I’m trying to get rid of (I’m only out of college one year!). After those go away, I’ll be working toward becoming the millionaire next door in a very subtle and different way. I’d be nice to have that much money, but I think I’d rather make donations, start a business, help out family members, or travel a lot with the money.


Lisa August 23, 2010 at 9:02 am

“Money can’t buy happiness.” – Unknown source


Earthdrummer August 23, 2010 at 9:24 am

Money makes me nervous & uneasy. Actually, debt does that. Controlling money, making good money choices, is a learned behavior it seems. And oh, so well worth it!! Control of money (in my world) = Freedom!!


Suburban Prep August 23, 2010 at 9:41 am

Due to a health issue I am not working.
I would like to know issues regarding how to gain some money on what I have saved.


Sarah August 23, 2010 at 9:46 am

Money stresses me out until I create some systems and rules around it. Then I feel better. Watching my savings account grow makes me so happy!


fae August 23, 2010 at 10:08 am

Still having trouble on that “below our means” part of the equation – disability and part-time work don’t add up to much – but we’re trying, and intend to get there. I’d love to read another good book on making the money concept actually work.


Becky August 23, 2010 at 10:18 am

Pick me, pick me, pick me. Depending on what day of the month it is I either hate or love money.


Leslie K. August 23, 2010 at 10:23 am

I try to be conscientious when I spend money. Having said that, the idea of tracking my expenses for a month (week, day) and really looking at what goes out scares me.


Christine S August 23, 2010 at 10:58 am

Being a new mom (and now a stay at home mom) makes me think about money A LOT! But I need to remember that the more I think about it, the more I worry about it — like a dieter that obsesses with food! Its all good, and even if I never become a millionaire, I know I am still rich because of where we live. As Americans, we are so fortunate. Treasure what we have.


WilliamB August 23, 2010 at 11:05 am

I suppose “What’s the point of being a millionaire if you live below your means?” isn’t quite what you had in mind…?

In fact I aspire to be like the millionaires who live next door and since, given family history, I worry about the costs of my last year of life, I also aspire to live below my means so that when I die I won’t saddle anyone else with my debt.


A. Marie August 23, 2010 at 11:11 am

Quote from my oldest sister’s high school yearbook: “Money isn’t everything–but it’s way ahead of whatever’s in second place.”

More seriously, some good thoughts from others so far; thanks to all.


Candace August 23, 2010 at 12:46 pm

I just found your blog – I love your slogan “Use it up, wear it out, make it do, or do without”. As a single mom to two boys, renovating a 2 family home and holding down a full time job, I am always looking for ways to stretch what I have. Looking forward to exploring the rest of your blog!


Jennifer August 23, 2010 at 1:53 pm

Well, I guess it’s time to come out of hiding. I’ve really enjoyed discovering your blog.

Money to me is a mystery. It’s only dirty paper, for God’s sake! But it does rule so much of who we are.


Barb @ 1 Sentence Diary August 23, 2010 at 2:27 pm

I struggle with my relationship with money — in some ways I’m a total tightwad, and in others I spend frivolously. And investing? Reading about investing? I’d rather have a root canal treatment.


Kellene August 23, 2010 at 3:26 pm

You don’t need to put my name in the drawing (I already have a copy). I just wanted to let you know how impressed I was that you found something so valuable at a thrift shop to offer as a giveaway! Most giveaways are shiny and new, but this is in keeping with your non-consumerism philosophy and I love that. (I personally think a well-read book has more character and warmth than a brand new one.) Now, I just need to pull out my copy, dust it off and read it again!


Barb August 23, 2010 at 4:48 pm

I really have no desire to become a millionaire. Being “wealthy” means not needing much. My husband and I live below our means and always find worthy causes to give away the extra. This book may have some ideas that would be worth reading. If I don’t win, I’ll check out the library.Thanks for bringing this title to my attention.


sharon stanley August 23, 2010 at 5:07 pm

i am loving this blog…looking through it a little each day….my thoughts on money….we need less than we think….we have always paid cash for everything….everything…home, cars, trucks, education, etc…husband, self employed…me…stay at home mother…it CAN be done…and it’s great…there is so much happiness to be had that costs absolutely nothing….and entertainment is also out there for nothing….kids don’t need tons of toys, playdates and expensive games…they need parents who say no…or at least, you can have it when you can buy it. think of saving money and making do as a challenge rather than a hardship….my two cents worth…


Kristen Harrison August 23, 2010 at 5:18 pm

Being a millionaire (or at least better off than I am now) would buy me more free time which I crave!!


Jessica Wolk-Stanley August 23, 2010 at 5:23 pm

We have a lot of “Millionaires Next Door” here in my Seattle neighborhood. The ones I know definitely live below their means, shop at Goodwill, are avid library users and clean their own homes. A lesson to us all.


Ani Mia August 23, 2010 at 5:33 pm

Money is like food – you can’t live without it and so you must learn to be wise with your consumption of it.


Robin August 23, 2010 at 5:35 pm

I don’t understand where our money goes. I budget and on paper it looks like we have enough to get through the month, but then, each month we run out of money too soon! Money = Frustration and Angst!


judyyy August 23, 2010 at 5:46 pm

My folks always taught me that no matter how much or how little I made to always save at least 10% of it.


namastemama August 23, 2010 at 5:47 pm

What timing. We are starting FPU tomorrow. Dave Ramsey has always recommended this book but I’ve never read it. Maybe it can give me some inspiration.


Jenny August 23, 2010 at 6:07 pm

I know that money does not equal happiness, but debt sure does put a damper on things! Love the comments!


Eileen August 23, 2010 at 6:20 pm

For good bargains, live in an area with people who buy more than they need (and then end up giving it away or throwing it out while still in good condition). For good role models, live in an area with people who buy less than they can, and save the rest of their money for *experiences*, not *things* !

We’re fortunate to have both types in our neighborhood, which means good thrift stores AND good millionaire-next-door examples πŸ™‚


Elisa Wells August 23, 2010 at 6:25 pm

I grew up next to a millionaire. He lives a quite modest lifestyle, saves and reuses everything, grows his own veggies, and has a foundation to give away his excess wealth. His favorite saying, even at 96 years old, is “Life is good!”


Margie August 23, 2010 at 6:27 pm

Awesome blog, Katie.
Being happy with what I have is where I want to be. More money is not the answer.


leslie August 23, 2010 at 6:39 pm

Money…I have to remind myself constantly that although my family needs money to survive, we also need happiness and quality time spent together. I am making a concerted effort to get my mind off finances and into laughing and talking when we are all together in the evenings.

Thanks for the chance to win the book πŸ™‚


Martha August 23, 2010 at 8:20 pm

I found this book fascinating. I have always wondered how SO many people can afford such nice cars and big houses…and from this book, I learned that many people who live in fancy houses and drive fancy cars are a paycheck or two from bankruptcy…at least thats the message I remember from having read it 12 years ago. I think it is a great book for you to give away as I think it helps people realize that keeping up with the Joneses is not a very stable thing to do.


annie August 23, 2010 at 8:59 pm

money is something I didn’t figure out how to manage until well into my 20’s and i’m still figuring it out.


Karen August 23, 2010 at 9:38 pm

I love what the real estate client says in the movie “Psycho” (the original from 1959, that is): “Money doesn’t buy happiness, but it does buy off unhappiness.” That sums up capitalism, to me. And isn’t it funny that we use the word “values” to mean ideas that are important to us? And we “invest” in relationships. It’s as if we were raised by bankers.


Jan August 24, 2010 at 4:01 am

Here’s a thought – I wish I hadn’t bought about 90% of the things that landed me in credit card debt. I’m probably still paying for things that I’ve given to the Goodwill. At least it makes me mad enough to not buy things now.


Carole August 24, 2010 at 4:26 am

I desperately need financial wisdom.


Dmarie August 24, 2010 at 4:36 am

if we “mind the nickels and dimes, the dollars will mind themselves”


Michelle August 24, 2010 at 7:07 am

Money doesn’t buy happiness but it sure makes being a minimalist a little more comfortable!


Gena August 24, 2010 at 7:21 am

I hope Jeremiah donated the book after he picked up lots of tips and tricks and has more money in the bank! My husband and I have incorporated so many new money hacks into our lives over the past few years; sometimes we get made fun of by our friends, but checking out our account balances certainly makes us smile!


Bonnie August 24, 2010 at 8:17 am

The less I shop, the more it makes me uneasy when I do have to shop. For example, school shopping – we just needed a couple pair of jeans and thought we would go to the mall. My son and I both came out with stomach aches after a couple of hours. I feel more comfortable in the thrift store. I’m grateful for this evolution in my life. It has helped us in more ways than monetary. Thanks for the opportunity to win the book!


Deb August 24, 2010 at 9:37 am

Just paid off all credit card debt – $18,000 to be exact. It took us 2 years, but we did it! I suspended my Roth IRA contributions for a year to meet the goal I had set for paying off the credit card. My reward? Being able to fully fund my Roth IRA for the first time ever!

I am ecstatic!

I have a well worn, dog eared copy of the Millionaire book that I will never ever part with, so I’m not even interested in winning it. But I must profess that when I read the book, it completely changed my outlook on money and wealth. It was a phenomenal shift in thought for me. It is a great book!


Madeline August 24, 2010 at 3:32 pm

My happiest moments were the days we had the least. I mean, money and “stuff.” The early days of my marriage we had to be more creative and we learned to enjoy and savor every little “extra” that came our way: a bushel basket of ripe Jersey tomatoes from the farmer’s market, courtesy of Mom in law. The old,red velvet couch, left behind when older brother Ron got transferred and gave up his bachelor apartment. The day I won TWO FREE MOVE TICKETS..woo hoo!!!!

I “have more” now but am not necessarily happier. Now, mind you, I am VERY content- but I was HAPPY then too.. more money and more stuff does not necessarily add up to more happiness.

It’s an inside job!!


Amanda August 24, 2010 at 5:35 pm

I have been thinking about money a lot lately. I am very frugal but recently my husband lost his job and now I am looking for ways to make even a no frills budget go even farther. I have learned I see money as security ….and in a way it is, but it is no substitute for love.


Linda August 25, 2010 at 12:50 pm

I read this from the library years ago and it had a great impact on me. Just amazing how we think millionaires live. In reality, most are very frugal. That is why they are millionaires.


Noot August 25, 2010 at 2:22 pm

For me, the key to money is knowing where it goes…..KNOWLEDGE is POWER!

While I was married (14 yrs), my spouse was responsible for paying all the bills in our Dual Income No Kids household. I (regretfully) did not take an active part in our money management other than my own 401K.

We had a 2 yr separation before the divorce was finalized….and while the experience was painful, I am strangely thankful for the adjustment period to give me the time to learn exactly what money was coming in, what money was going out, and how much debt we had accumulated. Boy, was this eye-opening for me!

Four years after the divorce, I feel so much more in control, and feel the power that comes with knowing both sides of the equation (income + expenses).

For those out there who are married/in relationships with joint finances….please please PLEASE ensure that both parties are aware of what’s going on.

If you don’t know…ask your partner to share this info with you.
If you do know but your partner doesn’t…please encourge him/her to take part.

Both of you….share the reponsibility & accountability for your financial decisions….TOGETHER!

(OK, off my soapbox now…)


Darla August 25, 2010 at 5:09 pm

Am working on getting us out from debt now…was really close then the car needed a bunch of work, which unfortunately we didnt have the cash for…its a vicious cycle that I will be really glad to be rid of!!!


Katy Akers August 25, 2010 at 5:35 pm

I live on $750.00 a month. First, pay the necessities – rent, utilities, dog food. Then, spend what’s left on food. Scavenge, garden, trade, re-purpose. I am sheltered, fed, and have good friends and family. “Enough is a feast”.


JEANNIE September 3, 2010 at 3:29 pm

What good is money and fame if you don’t have love in your heart to help the poor, lame, maime and the blind…


chasity January 7, 2011 at 1:27 pm

Im 24 Years old Stay at Home Mom have 2 kids i have bills that is comeing faster then money its very hard but i have faith in god that he can make it better!!


raul August 27, 2015 at 11:01 pm

i’m 55 yrs old everything in my life went from good to bad but really bad ,i realy don’t know what happen but now one thing that’s good for now i stay with my mom and dad. i know i need to move out but i have no jod i need dental work , lost my bank account ,no money ,owe at lest 22,000 in bills ,my truck is falling a part,no one wants to hire a 55 yr old man,so really i know that i need to go out into the streets , so my mom and dad can go on with there lives . i had good jobs but people down grad you so you can lose your job .if only you knew how hard my life was as some what good .i have no home to show for,no money ,192.00 on food stamps a mounth,and that going to be taken away, i’m so mad at my self because i can not stand up for my self at times,and the thing i need someone beside me but i’m to a shame of my self ,for going down hill ,that’s why im to my self because i have nothing to show four.will i guess i need someone to talk to this screan does not take back to you that’s make me happy . will i need hope ?


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