The founder of Nasty Gal explains why she didn't buy anything when she became a millionaire
Courtesy of Nasty Gal
In fact, the first thing she sold online wasn't clothing - it was a stolen book.
"Books were an easy entry point for a novice shoplifter like me," she writes in her book "#GIRLBOSS."
Today, she has no reason to shoplift or dumpster dive: She's worth an estimated $250 million.
The self-made millionaire started to see major financial gains in 2010: "After Nasty Gal moved off eBay and transitioned to a full-fledged business, I had almost $1 million cash in the bank," she writes.
While seven figures would cue most people to go on a shopping spree, Amoruso kept her wallet closed.
A "big no-no is increasing your spending as soon as your income increases," she explains. "I have always been careful to avoid this pitfall."
Part of her resistance to lifestyle inflation came from the fact that she simply didn't have time to spend. "For a long time I was so focused on growing the business that spending money on myself didn't even cross my mind," she writes. "Even if I had wanted to drop $500 on a pair of shoes, I was just too busy."
She essentially tricked herself into saving money, she explains: "When your time spent making money is significantly greater than your time spent spending money, you will be amazed at how much you can save without even really thinking about it."
And besides, she says, "You can't act like you've arrived when you're only just receiving the invitation."
NOW WATCH: 4 lottery winners who lost it all
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- Election Commission issues notification for sixth phase of Lok Sabha polls
- 6 Coffee recipes you should try this summer
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market