3. They underspend on housing.

There are other areas in which these self-made millionaires save money that doesn’t involve penny-pinching. One of the most shocking ones revolves around housing. We all imagine them living in huge, comfortable houses but the truth is, most of the people who want to save money underspend on housing.

Cozy one-bedroom apartments cost less, especially when it comes to maintenance. You don’t have to choose a minimalist life, but living in a house that’s suitable for you without going overboard will help your finances in the long run. Purchasing other properties that you can then rent out is a fantastic way of generating passive income too!