1. Don't throw your money away. Ever notice that people with money can often be the stingiest? If you are cashing a decent sized paycheck every couple of weeks, don't feel obligated to go out and purchase the most expensive car that you can possibly afford (and in some cases, can't afford). Don't feel that you have to start spending a certain amount of money on meals "just because." Don't feel like you have to take 2-3 expensive trips a year. There is nothing wrong with making a great deal of money and remaining frugal. This is a situation where you should be saving as much money as possible for your future, instead of raising your expenses to fall in line with your income. There is absolutely nothing wrong with maintaining a modest lifestyle even when you are banking a lot of money. This is perfect, because it will give you plenty of money to invest towards your future. Why not buy that car in cash twenty years from now, instead of being tied with large monthly payments that you can't really afford now?

2. Understand the difference between "good debt" and "bad debt." "Bad debt" is taking out a huge car loan to pay off a car that will depreciate as soon as you drive it off the lot. "Bad debt" is credit card debt that you are likely paying an arm and a leg in interest on. "Good debt" is taking out a loan to buy an asset that will most likely appreciate in value, such as a house. "Good debt" is taking out a mortgage so that you won't have to throw money away on rent. You should have as little "bad debt" as possible (zero is optimal obviously), and you also shouldn't be afraid to utilize "good debt" if the right situation presents itself. Some people think that all debt is bad - this isn't true. "Bad debt" is bad.

3. Money doesn't buy happiness, but it can certainly make you less sad. There are people that will tell you that you should spend all of your extra money on vacations and nice cars because you "can't take it with you" and "money doesn't buy happiness." Money doesn't buy happiness, but it certainly buys you some piece of mind. What is the number one cause of stress for most people? Money. Debt. Bills. What is one of the top three reasons that people get divorced? Financial issues. Money doesn't buy happiness, but it sure takes away a lot of sadness. With your investments growing and a decent amount of cash stashed away in a "rainy day" fund, you will sleep much better at night compared to most people who are stressing out about money issues.

4. Invest every month. After paying off your expenses and setting aside some "fun" money for vacations and nights off, you should be investing every extra penny that you have. Tax refund? Invest it. Sell one of your stocks for a big profit? Re-invest the proceeds. Even a modest 6-7% return per year will result in a king's ransom once most people get to retirement age. You should be trying to max out every investment plan that you have. If your job is offering some kind of matching share-purchase program, then take full advantage of it.

5. Small changes result in big savings. A small change may not seem like a big difference over a one or two day period - however, when you add up the money saved over the course of a full year, the savings become fairly substantial. Brewing your own coffee instead of buying a couple of Starbucks drinks per day could easily save you $8-$10 per day. This is a savings of $2900 - $3600 per year! Preparing your own food instead of eating out every second night could easily save you thousands of dollars over the course of an entire year. Paying down your debt instead of buying that brand new car when your current car is perfectly fine could save you thousands of dollars in interest fees every year. There are small, subtle changes that you can make in your life that will easily save you thousands of dollars over the course of a full year. "Wealthy" people understand this.

6. Don't let someone else dictate how you live your life. Unhappy with your current job? If you have been saving your money, you will find the decision to make a career change much easier. If you are living from paycheck to paycheck, then leaving a job is probably next to impossible for you. No matter how "stable" your job may seem, you are probably only a firing away from having your life turned completely upside-down. Creating a "nest egg" will soften the blows that will come your way over the course of your lifetime.

(Reprinted with permission from Dave Manuel, www.davemanuel.com)

Editor's Note:  In a March 9, 2010 article published by Bloomberg Businessweek, the millionaires' club in the U.S. grew by 16% in 2009, following a 27% decline in 2008.  Families with a net worth of at least $1 million rose to 7.8 million in 2009, an increase from 6.7 million a year earlier. Affluent households with net assets of $500,000 or more increased 12% to 12.7 million. The number of households with a net worth of more than $5 million rose 17% to 980,000.