Optimal Finance Daily - Financial Independence and Money Advice

2463: [Part 2] Wealth Advice That Should Be Obvious by Mr. Money Mustache on Best Money Saving Habits

Sep 28, 2023

Mr. Money Mustache, a retiree, shares wealth advice that should be obvious in this podcast. Topics include maximizing savings and living efficiently, building wealth through expense optimization and resourcefulness, and strategies for reducing expenses and achieving financial independence faster.

08:25

Episode guests

Money Mustache

AI Summary

Highlights

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Using platforms like Craigslist for storage can save money and help declutter.

Avoid dining out without a plan to save money and have more control over expenses.

Deep dives

Don't pay for permanent storage units

Many people pay for permanent storage units in the U.S. for years, costing them around $100 per month or more. Instead, the podcast suggests using platforms like Craigslist to store items that are not needed, and if required again, these can be repurchased. This not only saves money but also signals that people have accumulated too much unnecessary stuff.

Sustenance from Backpack

00:20

Introduction

5min

Maximizing Savings and Living Efficiently

2min

Building Wealth Through Expense Optimization and Resourcefulness

2min

Mr. Money Mustache shares wealth advice that should be obvious. This is part 2 of 2.

Episode 2463: [Part 2] Wealth Advice That Should Be Obvious by Mr. Money Mustache on Best Money Saving Habits

Mr. Money Mustache is a thirty-something retiree who now writes about how we can all live a frugal, yet awesome, life of leisure.

He and his wife studied engineering and computer science in Canada, then worked in standard tech-industry cubicle jobs in various locations throughout the late ’90s and early 2000s.

Then they retired from real work way back in 2005 in order to start a family. This was achieved not through luck or amazing skill, but simply by living a lifestyle about 50% less expensive than most of their peers and investing the surplus in very boring conservative Vanguard index funds and a rental house or two.

The original post is located here: https://www.mrmoneymustache.com/2013/09/20/wealth-advice-that-should-be-obvious/

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