"Who is rich? He that rejoices in his portion." B. Franklin

I was searching for some books about investment at my library and instead checked out this one.  Something about it rings true with me. The premise of the book is to get out of the "money step" cycle of earning money to spend money on something we think we want.  He encourages to reader to "embrace their inner miser!" 

A key point in this book is to decide what quality of life you want and say enough.    "Establish a permanent standard of living- one that is both comfortable and affordable."  He suggests that this should be an income that you are making in your 30's.   After deciding this is "enough" a person becomes free to stop chasing after more money.  Any money made above the level set goes to saving not to enlarging the standard of living. 

My family has chosen to do this.  Last year we drew the line in the sand and said, "this is enough."  Raises all go to retirement savings.  We will continue to save and not raise our standard of living above the comfortable level that we experience now.

A second key to the book and his philosophy, is to "never underestimate the power of not spending."  He argues that a penny saved is indeed a penny earned, but also a penny that doesn't have to be earned again!  This is the key to being a happy cheapskate.  They have more time for their own goals if their money is not being spent.  "By choosing to not spend the dollar, you know with 100% certainty you will still have the dollar and the luxury of not needing to earn that dollar again." 

I admit it, I am a cheapskate, but who cares.  I'm a happy cheapskate. I don't need to worry about saving a million for retirement, because I won't need to spend a million. :)