One Million Dollars Isn't What It Used to Be

There was a time the word “millionaire” carried cachet. According to the Oxford English Dictionary, the word was first used in French in the early eighteenth century and in English nearly a century later. Regardless of your station in French society in 1719, you would recognize a net worth of one million lives being notable. The same would be true for one million U.S. dollars a century later. Only a small percentage of society could be listed within a roster of millionaires(Forbes magazine).

Millionaires are easier to find today. Inflation and the erosion of the value of a dollar over the course of two or more centuries has put the goal of having a financial worth of one million dollars within reach for more Americans, but the club is no longer the exclusive party it once was. When the term became popular in American print, the persons most likely to be millionaires were the heads of large, multinational corporations. These are the same folks who are most likely to be multi-billionaires today.


- Don

A little on the dark side of too much money

We have all heard of the stories that lotto money can change your life for better or worse.

For these people, this lump sum of money have turned their lives into a nightmare.

First we have Keith Gordon who won $14 million and thought that he wouldn't ever be stressed about money again. He ended up dying from a heart attack that was caused by 'money stress' as he quit his job and made some bad investments which lead to him getting a drinking addiction.

Another person we have is Callie Rogers. She is a 16 year old teenager who won $3 million. She  ended up splurging her money on expensive gifts, night outs and unfortunately drugs. None of that made her happy and the consequences were that she tried to end her life. She has now learned her lesson and now understands the value of money.

For more stories on how lotto changed the lives of people, check out the link below:

http://www.news.com.au/finance/money/wealth/beware-the-lotto-curse-when-instant-riches-ruin-your-life/news-story/e5cd968928f894f6404cdc0924493884


- Katie

'Cheap' or 'Smart' ?

We all know at least one person that hears the word FREE and would come running to you. Or even drive across town to save 10 cents on a litre of petrol. 

They absolutely love freebies, coupons, discounts and bargains. Doing everything at all cost not to pay full price or pay as little as possible ! You would usually find these people comparing various deals before they let the hammer drop. And if they can't find a deal, then they'll simply not purchase and wait until there is some kind of promotion. Some of them, may even try to still bargain despite being on sale.

Although some may like to call them 'cheap', while some may argue 'smart' ! 

It is very important to make notice of these people, as they demonstrate a lifestyle that is able to not solely focus on material possessions and not allow impulses to get the better of them. Money is truly appreciated, valued  and MAXIMISED ! Many in which can't do in today's society.

Imagine these individuals with a million dollars... do you think they'll still be savers ? or will they turn into 'spenders' ?

It is indeed a difficult question but I still believe there will be a % of them who would still be 'savers'. As many don't save simply because they don't earn enough for their future rainy days but rather they have an ideology in their mind that values money.

So what are your thoughts ? Are they 'cheap' or are they 'smart' ?

- Mimi