While looking for ways to lower our “magic number,” we focused on cutting our expenses without sacrificing too many of the comforts that we were used to. While doing research, I came across a really funny but thought provoking book called The Ultimate Cheapskate's Road Map to True Riches: A Practical (and Fun) Guide to Enjoying Life More by Spending Less
My wife and I read this book aloud and became true converts to the idea that it really was possible to live frugally and happily at the same time. The author writes that by conditioning yourself to spend less and being content doing so will help slay your “enoughasaurus,” that is the need to always acquire more and more to feel satisfied. We started to think about how much income we really needed to be happy and the price that we were paying to have a bigger house, new car, and more stuff. It caused us to take a good hard look at every category of our spending to see where we could reduce our expenses, especially in some of the less obvious ways. It opened our eyes to the idea that we could cut back on spending and actually enjoy life more with the freedom of time that it would afford us. We now proudly call ourselves “cheapskates.” In my next post, I’ll describe the easiest way I have found to keep track of your finances.