7 mistakes millionaires like Warren Buffett and Bill Gates never make—that average people do all the time via CNBCMakeIt
div > div.group > p:first-child"> If you want to reach millionaire status, the single most important thing you can do is to learn from the likes of the super wealthy, from Microsoft co-founder Bill Gates to Google's ex-CEO Eric Schmidt to Berkshire Hathaway CEO Warren Buffett.
They're also mindful of bank fees. Many banks will charge you extra money for their services, and you might not even be aware of it.Some of the bigger banks, for example, will charge you anywhere from $12 to $15 unless you meet a specific set of requirements, like maintaining a certain average balance in your account. Make it a habit to check your monthly statements for these hidden charges.
"Rich people don't get rich by spending it all. They know better than anyone that by being careful shoppers they can achieve a lifestyle several rungs up the income ladder," notes market researcher Pam Danziger. Impulse spending leads to waste, overspending and debt — three things successful people avoid.
Billionaire and former Google CEO Eric Schmidt says that short-term trading won't make you rich. He always thinks long-term and never tries to beat the market. "When I got 'The Tonight Show,' I always made sure I did 150 [comedy show] gigs a year so I never had to touch the principal," comedian and television host Jay Leno told CNBC."I've never touched a dime of my 'Tonight Show' money. Ever. I always had two incomes. I'd bank one and I'd spend one."
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