Becoming a millionaire and distinguishing between splurges vs ongoing expenses
Having recently become a millionaire, I consider the lessons learned. An important lesson is the importance of watching ongoing expenses. It makes no sense being a millionaire if your ongoing expenses are very high. As such, a splurge of spending every now and then is not too harmful. What is extremely harmful to your personal finances and to your freedom are ongoing expenses such as when you have children, get a house, or buy a car.