I do buy clothes but I would rather spend money on good clothes that last long and that have a classic fashionable look not a fad look.

I have practiced a “fiscal fast” unwittingly and unconsciously and when I do have to spend money I am much more conscious of what I spend my money on.

Don’t forget about budgeting for entertainment, there are lots of free thigns to do in larger cities that our tax dollars already pay for… seek them out.

http://www.urbanfrugal.com

[...] Trent gives thumbs up to the book “The Ultimate Cheapskate's Road Map to True Riches” by Wise Bread blogger Jeff Yeager! “The humorous tone, self-deprecation, and solid advice mix together into a very enjoyable read” that “focuses on frugal ideas and tips that can easily be applied to an average American life.” (The Easy Dollar) [edited to add: JD liked it too!] [...]

So do I, how do I recover it?

[...] Sunday, I reviewed Jeff Yeager’s new book, The Ultimate Cheapskate’s Guide to True Riches. Yeager has [...]

“Happiness is wanting what you have”

Now the hard part at times is believing and applying that…

Wow. Your story is almost exactly the same as mine. I’m 29, a renter who is 100% debt-free and, thank God, always has been.

But until this year, I had simply been living within my means, with no real interest in PF or much thought about the value of my time/money.

This year, after stumbling on GRS, I now have a maxed-out 401k, a healthy emergency fund, and an online savings account to which I make regular contributions.

Soon I will be marrying my fiancee, who is also debt-free. And we are planning to save, save, save.

Thanks to J.D. and all the GRS readers for providing motivation and food for thought. Here’s to a great 2008.

One of my goals is to start using my bike for commuting more than my car. I’ve commuted to the post office and to swim classes, but I want to regularly use it for going shopping and making a meal out at a restaurant even more special. I wouldn’t have realized that you apparently bike a lot if you hadn’t replied.

Also noting the social responsibility factor of your book makes me even more interested in it. I think paying less for goods and services can be detrimental to the community if you don’t pay attention to where your money is going. Sometimes it’s better to pay a little more, like at a farmer’s market.

Haha your compost pile has a name. Cool!

I hope your Tour de Cheapskate extends to Texas someday.

Congratulations on your book!

What kind of cheapskate uses a dishwasher?

I did a whole month back in June (http://theshoppingsherpa.blogspot.com/search/label/Fiscal%20Fast) and it was heaps easier than I’d thought. In fact I’d be doing another one next month except I know I’ve got two trips away so would fail before I start…

Best Wishes,
D4L

Looks like a genuinely helpful read. My hubby and I don’t have the sorts of jobs that make you rich, but we are very frugal.

It is actually David Chilton, (with a ‘t’).

..MG

Thanks so much for reviewing my book. It’s my first book, and I’m mighty proud of it.

I’m glad you liked it JD. I knew the basic message would resonate with you (“If you spend less money you’ll enjoy life more!”), and I was hoping that you’d appreciate the sense of humor and entertainment value of the book as well. In short, the book is about how to amass a quality of life, not just a quantity of stuff –and so I try to redefine, in a positive way, the traditional definition of “cheapskate” along those lines.

As a prolific reader of personal finance and self-help books in general, I always wanted to write a book that was equal parts: * humor/pure entertainment, *practical advice, and *messages regarding social responsibility. BTW, my professional background is 25 years as a CEO and senior manager of national nonprofit organizations in Washington DC, a rather unique – but I think valuable – background for a PF writer; like most American households, nonprofit managers don’t have the luxury of throwing money at their problems or measuring their success just by the size of their bank accounts.

Although it’s too soon tell (the book only came out on Wednesday), based on initial reviews and reader response it looks like the book is hitting on all three counts. Some folks have critiqued it from just a humor/entertainment perspective (quite favorably, I might add – even suggesting that it’s like a kinder-and-gentler Ben Stein, who I adore, BTW), others like JD have reviewed it primarily in terms of its practical PF value, and the Sierra Club and other nonprofit groups have embraced it because of its larger messages about how spending / consuming less can help solve the world’s problems.

Oh well, we’ll see. I can say that I’ve been personally heartened by the number of hard core PF junkies (folks like me!) who have said that it’s the first PF book that their spoiled adult kids or spendthrift friends might actually read, essentially conned into the read by the book’s entertainment value and sense of humor (much of it at my expense). Of course, my poooor wife still hasn’t read it, despite the fact that I dedicated the book to her. Yep, I’m still waiting for her to fork over the $12.95, just like anyone else. “Sorry honey. You gotta buy a tickie to see the show, even if the book is dedicated to you.”

Thanks again JD for reviewing my book. If anyone has any questions, comments or ideas to share, you can email me at UltCheapskate@aol.com. Also, if you have a book club or finance club that would like to discuss my book, I will gladly participate by phone or in person, if you’d like. And finally, I’m going to be doing a series of book-tours-by-bicycle – the “Tour de Cheapskate” – starting in January and staying with fellow cheapskates along the way so that I can donate my expense savings to local libraries (one of my favorite causes); if you’d consider putting me up for the night, please email me or see my website http://www.UltimateCheapskate.com.

Stay Cheap!
-Jeff Yeager
The Ultimate Cheapskate

Wow. That is an excellent one-liner. Short, sweet, and to the point. This rings true with me in so many ways.

“Do for yourself what you could have others do for you. Grow your own food. Change your own oil. Do your own home maintenance. By taking on a few chores you usually pay others to do, you can save money.”

This is one that really amazes me. Growing up, we went hunting and fishing every year (and ate what we caught), always had a garden, always changed our own oil, and rarely called someone in for home maintenance. We didn’t do this to save money, we did it because that is what you just naturally do when you don’t have much money.

In other words, I think not having alot of money tends to lead to greater self-reliance. Now that I am a professional and have enough money, I don’t do any of those things anymore (although we are trying to set up a garden at least). But I still try to be self-reliant in other ways, just on a different level.

Also, its nice to know that I have that experience to fall back on if things get really rough. Alot of people I know barely have any idea where food actually comes from, let alone how to catch it for yourself in the wild and convert it into actual edible food.

Excellent post!

I wish I could! Today I earn less adjusted for inflation than I did at thirty. What would Yeager say?

His reading of the time/money tradeoff seems odd to me. By being cheap, you are valuing your savings (very important, to be sure) over your leisure time. The quote here makes it sound like cheapness increases your leisure time, but it sounds like his book (which I haven’t read, though it sounds enlightening and amusing) spends large passages on the ways in which you can give up your leisure time to increase your savings.

It’s from Rudyard Kipling’s autobiography (published in 1935). Kipling lived for four years (1892-1896) in his wife’s hometown of Brattleboro, VT, where he wrote “The Jungle Books” among other works.

So the “enoughasauraus” seems to be not a very recent phenomenon, for us Americans at least.

[...] Trent gives thumbs up to the book “The Ultimate Cheapskate's Road Map to True Riches” by Wise Bread blogger Jeff Yeager! “The humorous tone, self-deprecation, and solid advice mix together into a very enjoyable read” that “focuses on frugal ideas and tips that can easily be applied to an average American life.” (The Simple Dollar) [edited to add: JD liked it too!] [...]

Peter