Few people who look like they have money actually do. This bit of wisdom was tweeted by money expert Dave Ramsey, who added that the expensive cars and vacations we often see on social media very seldom indicate someone has wealth.

The average millionaire, according to a post on Ramsey Solutions, leads their wealthy life with five simple habits. Here are the five ways millionaires live more cheaply than you.

1. Millionaires Read

The post on Ramsey Solutions reads that millionaires use their free time to get caught up on their reading list. They focus on reading biographies and books on leadership, because they want to learn and have a desire to always learn more.

2. They’re Fine With Delayed Gratification

Most people do care about keeping up with the Joneses. They’ll shop for expensive possessions, like fancy new cars or clothes, in the hopes they impress others.

Millionaires will buy older, used cars and live in an inexpensive neighborhood. They’re focused on saving their money today for things that set them up for success tomorrow, like a large down payment for their dream home and a robust retirement fund.

3. They Do Not Get Into Debt

According to Ramsey Solutions, one of the biggest misconceptions about the average millionaire is they see debt as a tool. This is not true.

Debt is the biggest obstacle to building wealth, and millionaires do not get into it. If a millionaire wants something but cannot afford it, they do not go into debt to buy it. Instead, they save their money and pay for it using cash later on.

4. Millionaires Budget

Not everyone uses a budget. Ramsey has tweeted before the reason why they don’t is because they see a budget as something restrictive, which takes away their choices. Budgeting helps create a plan for your money. Once you have this plan, you’ll be able to control your money and reach your financial goals.

There’s one group of people who always budget and those are millionaires. You can choose to think of a budget as restrictive, or think of it the way millionaires do and use your budget as the foundation to build your million-dollar net worth.

5. They Give Generously

Some of the most giving people you’ll ever meet are millionaires.

The post on Ramsey Solutions reads millionaires understand the most important thing you can do with wealth is help others. They give, and they give generously, both to those in need and to members of their family to leave behind a legacy of generational wealth.

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