Lets face it. Weve all daydreamed about what it would be like if we were absolutely wealthy. I mean, worth millions and millions. I used to think about the lifestyles of the seriously rich and think How Unattainable. And how fantastic it must be to have unimaginable amounts of money in your bank account at your disposal. Until I read Losing my virginity by Richard Branson. (Owns virgin Atlantic, Virgin Mobile and links with tons of other Virgin Label businesses.) This was the start of a new hobby of mine: Reading Business Biographiesbut I digress.

For many years, Mr Branson was a millionaire in debt. In fact most people often talk about having an overdraft of a few thousand or a few hundred dollars or pounds. Richard had an overdraft of 30 million! Not just that, the banks kept harassing him, demanding that he pay them back their money ASAP. I dont know about you but I remember receiving those arrogant letters from banks reminding me (like Id forgotten) that I was overdrawn and that I was going to be charged a ridiculous fee for being overdrawn and P.S. youre going to be charged for this letter. Unbelievable. But Richard turned things around (by selling some of his businesses) paid the banks back their money, and continued to build his empire.

But the point is , being a millionaire really isnt necessarily all that it is cracked up to be. You still need the fundamental money management skills that everyone needs. Millionaire or not.