On this week's episode, Scott talks frugality with past 3rd Decade participant TK. TK and his wife have been, by far, the most successful students to pass through the 3rd Class as far as consistent net worth increases over the past four years. In fact, we often exclude their numbers, so as not to overstate the stats, when describing the improvement seen by the average 3rd Decade participant.
Him and his wife paid their way through college and graduated debt free, purchased a home in their mid-twenties and paid it off by their early thirties. They recently paid cash for a wedding ceremony and a three-week honeymoon touring all over Italy. They now live comfortably, debt free, maintaining a 70-80% savings rate and maxing out their retirement accounts. They accomplished this with two average salaries and an exceptionally savvy and precise use of the 3rd Decade principles to manage their personal finances.
Whether you find yourself at a place where frugality is a necessity or a tool to reach other goals you have set for yourself, TK discusses some of his best tips for making it a reality for yourself.
Resources recommended by TK:
Books:
Banking:
Tracking Spending:
Blogs / Podcasts: