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Millionaire Next Door

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The Millionaire Next Door
“Frugal Frugal Frugal” Jayla Helton
ECON 202
Summary
What defines Frugal? According to Webster’s dictionary, this means the behaviors reflecting the economy in the use of a resources. This chapter also includes many statistics that are very interesting to someones knowledge. One will also learn that the shopping habits people have and where they shop determines if they are well off. In the story about Johnny and his habits of life, one will learn that he is not considered a “bespoke” because he does not spend the money on customized suits. It is proven that people will buy certain pieces of clothing or a pair of shoes just to have the logo on it. One will also learn that most Americans in this generation will never become wealthy because they are wasteful. Many people do not have the discipline to stop spending money on wasteful things. Just like with a credit card, one is not considered wealthy if they own a credit card. People do not know how to properly manage money. While reading the story of Mr. Friend, one will learn that he owns a lot of valuable things but barely ever has time to enjoy those things and time with others because he is always working. People do not realize that simple little things you buy everyday will accumulate. It is shown that Mr. Friend will not be …show more content…

Many people in todays society think that in order to be considered “wealthy” they have to have the newest of everything so that people will think their family has money. People will spend fifty to one hundred dollars on something just to have the Buckle logo, or under armour logo, or Nike logo, or American Eagle logo. If you wear something that is not name brand, people think that one can not afford the nice new clothes. Teens today consider someone cool if they have nice clothes and have good fashion, if one does not have a certain logo they are considered to be lame and

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