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Thursday, May 8, 2008

Book Review: The Ultimate Cheapskate's Road Map to True Riches

Everyone that knows me well knows that I am a naturally fugal person. I gravitate towards living my life simply. So, it’s no surprise that I picked up Jeff Yeager’s book, The Ultimate Cheapskate’s Road Map to True Riches.

I must say The Ultimate Cheapskate is the best book I read in a long time. It’s packed with tons of practical advice to living frugally at the same time Jeff’s sense of humor really makes this a great read. My wife hates Suze Orman so we got a good laugh that losing at the fiscal fasting meant listening to 48 hours of her audio books.

Some Important Highlights from The Book.
  • Slaying your Enoughasaurus - Most of our financial worries start with us wanting too much. This starts a cycle of working-buying-working even more. Eventually, the quality of life suffers because we have no free time to enjoy life.
  • Fiscal Fasting – The ultimate cheapskate’s challenge is to go one week without spending money. This helps you perform a self-audit of your spending habits.
  • The 6 Rules for ruling your gold – I don’t have the space in this post to go into detail but they are eye opening. You’ll have to purchase the book to discover these gems.
  • Money may be dangerous to your health – We tend to hire people to do work that is good exercise (gardening, lawn, painting, cleaning, etc.) and pay for an unused gym membership for exercise. It’s a financial double whammy. Jeff Yeager suggests cutting the memberships and doing the work for exercise.
  • Buy a home not a castle – He gives a compelling argument to purchase a smaller house for happiness and save money by staying there.
  • Consider the one car per household option
  • That’s entertainment – He provides 100 free frugal thing to do.
Well, that’s the Ultimate Cheapskate in a nutshell. If you want so good reading entertainment and at the same time want to save some greenbacks, The Ultimate Cheapskate is the book for you.

Sensei Tim Rosanelli
Maximum Impact Karate
(215) 249-3532

Sensei Talks: Tim Rosanelli

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