Bow3: The CheapSkate Next Door by Jeff Yeager

This guy's so cheap he doesn't even publish under the name "Jeffery."

This was an easy read on living within or below one's means. There's enough humor to keep it moving but it is not overly obnoxious.

Triple S and I are in the process of reassessing our savings rate and determining how to do the things we want to do (like Montessori for Beanie and world traveling). Reading this book has helped me de-priortize expenses that we really couldn't (shoudn't) care about (home decor and trendy clothes?).

I was shocked to learn how much 'the Joneses' have in debt: 133% debt rate (ie working for 1.3 years to pay off DEBT) and an average of $10,000 on credit cards. WOW. No wonder I don't have so many of the things it seems others have.

He also had good suggestions, many of which he refers to in more detail in his first book, such as going on a spending fast for one week, doing a spend analysis two times a year, and spending a set amount of cash each week (and when it runs out, you're out). He also suggests saving for a car or other big expenses, instead of taking out a loan. One cheapskate interviewed in his book 'saves twice, spends once.' In other words, if they are saving for a new appliance, they will save twice the money they need to buy the big item before they buy, and thus have an extra $1000 or so to put to long term savings. It's all about delayed gratification.

If you are looking to get out of debt, save more for rainy days or be a better steward of your own financial security, I recommend checking this book out from your local library. Everything seemed doable and the writing was not preachy or accusatory.

This week, I am reading "A Universe from Nothing" by Lawrence M. Krauss. Nothing like a bit of astrophysics...