Yep! If you spend your money on toys and silly expensive cars, you will not become wealthy.
There aught to be a whole thread dedicated to this topic alone. I'm not saying that my Wife and I are perfect , but we save more than 50% of our incomes by living pretty frugally. A few things on the list includes:
1: We keep our vehicles a very long time. Both are Toyotas, both with over 200,000 miles each. Whatever, they still run fine. I know people who buy new cars every 4-5 years. In 20 years that's more than $100,000 just in cars. Also- learn how to repair your vehicles yourself. It isn't rocket science and you save a crapload of money
2: We rent, which makes sense where we live. We pay $1,200 a month. Buying a house of the same size in this location even now would be $550k or so, or approximately $3,200 a month on a 30 yr fixed. HUGE difference. Perhaps in other markets it makes sense to buy. Not here. Secondly, we share the house with another person, which cuts down the rent even more.
3: We eat in. If you figure an avg meal for two people today is around $30, that's $150 a week just if you eat dinner out every night. If you threw in lunch and coffee, add another $100-150. That's a lot of dough just for food.
4: Buy clothes at Goodwill. Most clothes I have are from Goodwill and half of them still had the tags from the store attached: they had never been worn.
5: Buy generic groceries. We go to grocery outlets and get no-name food.
6: Carpool. It makes sense for us: We work in the same area. We save $20 a week not having to pay the bridge toll plus we use half the gas.
7: Get movies and books from the library. We're lucky. There's a big library near us that gets new movies all the time. Cost to us: Zilch.
8: Get furniture and household goods from the street. We have nice stuff in our house, but almost all of it was thrown away on the street. That doesn't happen as much today, but a few years ago when people were throwing out their stuff in preparation to sell their house, I picked up practically new mowers, a few TV sets, a stereo, a Brazillian hardwood Coffee table, a couple of rugs, a Kitchen Aide mixer, and a whole crapload of other perectly good items.
9: Buy middle of the road or refurbished car parts. My truck has a lot of aftermarket remanufactured parts in it like the altenerator and starter motor. They work fine, cost a lot less and look the same anyway. 217,000 miles and still going.
10: Keep cell phones until your contract is up. In fact, my cell phone is 6 years old. The "replacement" free versions I got afterwards were crap and blew up after a few months each. So I'm keeping this one till' she blows... which hasn't happened yet.
11: Buy CD's from Amazon
. Since nobody wants CDs anymore, you can get a new CD of any artist for $3-$4 each. Then you'll have a hard copy and upload the tracks to Itunes or something.
I could go on and on. But if you just make a conscious effort to save on everything you do, the nickel and dime stuff ads up.