Financial advisers often tell us that we should save money on some of life's smaller niceties in order to have a secure financial future.
[Ads /]
But recent studies show that those who are "super savers," those who actually end up with that secure financial future, don't do that. What they do, is they live in a modest home. Where the majority of us spend about 25% of what we make on housing, they spend only 14%. They also drive older cars. The rest of us drive cars that are somewhere between five and seven years old.
So, when you're looking toward a secure financial future, you might want to think about what the bank robber Willy Sutton told a reporter. A reporter asked him, why do you rob banks? And he said, "That's because that's where the money is."
And that's where you should save, too -- where the money is.
[Ads /]
Take a look at more stories and videos by Michael Finney and 7 On Your Side.