The Original Cheapskate

Today is the first day of the annual America Saves Week, a non-profit effort that encourages individuals to examine their financial savings, and to set and pursue savings goals. 
The project’s importance is underscored by the millions of Americans who remain just one or two paychecks away from severe economic crisis.

Jim Schenke creator of the blog The Original Cheapskate focuses on the myriad of ways each of us can save in daily life. His frugal, debt-free, high-saving ways have been featured in Parade magazine and a number of financial publications.

• Jim says saving money isn’t magic, it’s a mindset.
• The key to saving is accurately separating wants from needs then filling needs as affordably as possible.
• Be satisfied with what you have.
• Invest in items that appreciate like a house versus spending on things that rapidly depreciate like cars and clothes.
• Get the $100 wristwatch that will still be ticking in 10 years versus a $10 watch that could fail in 10 days.
• Ask “Can I do this task for myself?” and if not, ask “How can I change that?”
• Saving is an endless series of wise choices.

Is being a full time cheapskate a grind?

NO WAY. It’s a big game of getting something for almost nothing.
And having a year’s expenses saved up buys peace of mind. Caribbean vacations are out, especially since my extended family unloaded condos in Florida and Mexico. But driving to visit family in historic eastern locales has a lot to offer.