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.