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In my five-year lengthy Wealthy Habits Examine I studied the habits of 233 rich people and 128 poor people. I requested every particular person 144 questions on each side of their lives, which interprets into 51,984 questions. Because of my research, I realized some fascinating issues concerning the rich that I by no means knew or examine earlier than.
A type of fascinating issues was the truth that 92% of self-made millionaires stated they didn’t drive a luxurious vehicle. I simply assumed most rich people owned luxurious vehicles, so this stunned me.
One other knowledge level which caught me without warning was that 97% of the self-made millionaires in my research didn’t lease their vehicles. As an alternative, they nearly all bought their vehicles and took glorious automobile of their vehicles, which enabled them to drive their vehicles for ten years or extra. These millionaires solely changed their automobile when both the transmission or engine wanted to get replaced.
Right here’s one other fascinating factoid – 55% of the self-made millionaires in my research bought solely used vehicles. These have been sometimes new vehicles coming of a two or three-year lease.
I realized from my Examine that the majority self-made millionaires noticed vehicles as a utility or instrument to get them from level A to level B. They weren’t concerned about or didn’t must impress others by driving some luxurious vehicle.
Earlier than I launched into my Wealthy Habits Examine, I had pushed a Mazda RX7 sports activities automobile, Jaguar, Lincoln Continental and even leased a Mercedes. Good vehicles!
My Examine knowledge brought about me to suppose lengthy and exhausting about any future vehicles I might drive.
In 2013 I bought a brand new 2013 Hyundai Elantra. It value me about $26,000 again then. I made a decision to pay $500 a month, with the aim of paying off the mortgage on my automobile inside 4 years, which I achieved.
After I bought that automobile, I wished to do what a lot of the millionaires in my Examine did and drive it till the transmission or engine wanted to get replaced.
Like my self-made millionaires, I’ve been diligent about taking good care of my Elantra. I’ve been driving this automobile for 11 years now and have, at this writing, 196,400 miles on it. This 12 months, I set a aim of attempting to hit 250,000 miles or extra on my automobile.
I believe my self-made millionaires can be happy with me.
