Rule 33: Small Economies Won’t Make You Wealthy but They Will Make You Miserable

You won’t become wealthy scrimping and saving your coffee money for the rest of your life, but you will be miserable. You don’t have to penny-pinch forever. Some people get satisfaction out of being frugal, but if that isn’t you, then don’t deny yourself intermittent small pleasures in the belief that this behavior is the way to wealth.

Hang on though. Didn’t I say in an earlier Rule that the wealthy are eagle-eyed and that you had to stop money leaks? Indeed. But that’s different. While getting your finances in order is a good thing, going without isn’t. Make sure you aren’t giving money away by being careless (those are the leaks) but don’t deny yourself the very small pleasures that enrich your life so you don’t go nuts. If you can’t afford what you want, buy less, but buy quality. Save up by all means for those big purchases or ask if you really need them, but don’t start thinking that giving up little luxuries, little treats will somehow increase your wealth. It won’t. It will keep you trapped in the poverty cycle. Understand that I say “little luxuries, little treats.” Going out to eat for lunch every fucking day is not a little luxury, a little treat.

Wealthy people don’t scrimp and save. Sure some of them are quite tight fisted and you’d have to crowbar their wallets off them. But while they watch their money carefully, they don’t cut the odd coffee or buy cheap peanut butter in the hope it will make them more wealthy. It obviously won’t.

Like being on a diet, if you deny yourself every small pleasure, you’ll probably fail. Little indulgences are the way forward.

I bet you didn’t expect to hear that from me…