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The Street
The Street
Colette Bennett

Dave Ramsey Reveals a Secret Habit of Millionaires

For those of us who aren't millionaires (yet, anyway), we may often find ourselves wondering what they key is to becoming one.

While it's tempting to eyeball the investments they've made and do your best to imitate them, many financially successful people will tell you that what their success is really about is their habits.

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Financial guru Dave Ramsey just shared a new tidbit about the top 10 cars brands millionaires drive -- and if you're already conjuring up images of gleaming Porsches and Lamborghinis, think again.

In fact, Ramsey's list is topped by enduring, reasonably-priced brands such as Toyota, Honda (HMC) and Ford.

"Most millionaires don't drive flashy cars," Ramsey wrote. "When people don't waste money to LOOK wealthy, they have money to actually become wealthy."

Notably absent from Ramsey's list were brands like Porsche, Ferrari and Tesla.  

Ramsey's take is backed up by actual data, too. A 2022 study from Experian Automotive showed that 61% of people who make $250,000 a year or more do not drive luxury cars.

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Of course, $1 million isn't what it used to be. In addition, inflation is at generational highs, so there may be a bit of enforced frugality at play in the results as well.

However, it's worth noting that Ramsey contradicted this statement a mere four months ago on his own show.

It's also worth noting that Ramsey currently owns two vintage Jaguars and a Porsche 911 S (and those are only three of his seven cars).

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