Afterpage · week card
The Millionaire Next Door
Thomas J. Stanley and William D. Danko
Key ideas
- Live well below your means.
- Test your net worth.
- Big hat, no cattle.
- Budget is the defense.
- Spend time on building wealth.
The week
| Day 1 | Read the summary. Five key ideas and where the book overreaches. |
| Day 2 | Run the net worth test. Work out your expected net worth with the authors' formula and compare it with your actual net worth. Bad day: Multiply your age by your income and divide by ten. Write the number down. |
| Day 3 | Find your status spending. Go through last month's spending and mark anything you bought mainly so others would see it. Bad day: Name one recent purchase you made mainly for how it looked to others. |
| Day 4 | Set a spending plan. Write a simple monthly spending plan with a limit for each main category. Bad day: Write your three biggest spending categories and a monthly limit for one of them. |
| Day 5 | Rethink your next car. Look up the full cost of your current car and compare it with a reliable used alternative. Bad day: Write down what your car costs you each month, all in. |
| Day 6 | Talk about money at home. Have a short conversation with your partner or family about one spending goal. Bad day: Send one person a message naming one spending change you'd like to try. |
| Day 7 | Book a monthly planning hour. Put a recurring hour in your calendar to review your spending plan and net worth. Bad day: Create a repeating monthly reminder titled “Money planning hour.” |
Free week by email at getafterpage.com/books/the-millionaire-next-door