It's all about the spending (or lack of spending).

The internet is a great thing because one link often leads to another and another, taking you or me on an interesting and varied journey. As I’m writing one post, I’ll often get ideas for others and very quickly find supporting material on mainstream media sites like or as well as other blogs.

As I was writing the new millionaires post, I was struck by the average age of these millionaires. With an average age of 56, it proved to me slow and steady wins the race, that careful money management works.

I then found this post titled “It’s not what you make, it’s what you spend” and I couldn’t agree more. The post was based on this article on MSN Money.

The article gets right to the point and begins by saying: “It's getting harder to blame savings shortfalls on your measly pay stub.

In fact, how much you save has little to do with your income, research by economists Steven Venti and David Wise shows. It has more to do with whether you want to save and are willing to adjust to boost your saving.”

That reminds me of my post about the evils of cliches, specifically the “You have to have money to make money” cliché. We all have money, it’s what you do with it that counts. If you’re over spending and buying things you simply don’t need, you’re not going to save very much.

“The study also pointed out that it wasn't just the higher income folks who managed to save the most. Indeed, people in the lowest income groups were able to save more than some of their middle-income peers -- by about $100,000.”

The author of the article, Jennifer Mulrean, comes to the obvious conclusion that controlling spending is much more important than earning more (although why not do both).

The article then goes on to give seven steps to help you save up to $12,000 in a year. It’s worth the read.