Savings Accounts, CDs, and Millionaires

Investopedia has a nice piece up right now about how to save a million dollars. Tips include:

– Stop spending on useless stuff.

– If you deserve a raise, make sure you get it.

– Don’t overpay your income taxes.

Money-Rates provides readers with the ability to quickly find the best CD rates, best savings account rates, best money market account rates, and best mortgage rates…and those savings add up, too.

More important than any particular trick of the trade, though, if your mission is to have and/or keep a large amount of money in your savings account, is the attitude you take towards saving money.

Refusal to pay unnecessary bank fees, for instance, is a sure sign of a millionaire saver’s mindset. Demanding that you get the best CD rates, rather than the second best, is another millionaire-istic life choice.

The list goes on, there are so many manifestations of wealth-minded thinking.

No doubt the most valuable thing for the determined saver to realize, then, is that good saving is the fruit of good thinking, of really committing at a deep level to wealth-minded thought processes.

People who make that first, fundamental choice frequently make other, also correct choices as they progress down the path.