I read something similar in Fortune sometimes ago. I was very surprised at a couple who had a million but makes less money than my family. Somewhat forty to fifty thousand dollars at that time. Anyhow they saved money in every way. Mike Burke's gangs call it "cheap" I was very impressed what the couple did. I don't know I live in Bay Area and many things cost too much. Gas price in Pleasanton is 20 cents higher than other areas. A little less than S.F. My workplace is not far from here so price a little less around my workplace.
Also, another thing is to persuade my wife. If the "Millionair Next Door" is Bible, I bet my wife will read in Korean version but in English, heck no. She is not a spender but not much pays attention to wait for sales or turn off lights, etc. I am the one who replaced regular bulbs with fluorescent bulbs (Costco selling them with PG&E rebate at $7 for 5 bulbs), lowered waterheater temp, bought my daughter's elementary workbooks through Barnes&Nobles, etc. B&N gives free shipping if ordered more than two. That is hard part. I hope my children, who are two young now, learn from me not her for living in "cheap" ways-g-.
"Spending less than they make" is really important. Couple of years ago S.F. Chronicle articles run a story that a couple who made over 150,000 were in bankruptcy. Even they didn't own a house. Surprising.
p.s. I read couple of posts in Burke board that a few pulic pension funds of cities or counties are in deep trouble due to this down market. They must invest a lot in high tech. That means we cannot trust the pension funds too.
p.s.s. I hope my father had gave the book like you did. that is wishful thinking. But I don't blame him. I am very grateful that my father struggled to make end meets for his life but due to his sacrifice and devotion to children's education, we are now much better off.
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