Welcome cheapskates, to our frugal classroom
Hi! We’re Mr and Mrs Cheapskate
OK, so here’s how it normally goes. You graduate uni or finish college with a little debt and you get that entry level job you’ve been waiting for. Your life is just beginning. You continue to work your way up the career ladder earning more so you can get a mortgage and fill that new house with the things you’ve always wanted, maybe borrow some money for a new car and have one, maybe two kids. You continue to do this, borrowing holidays and cars and paying them off, for the next 30 odd years until one day, that mortgage is paid off and you can think about retiring. The kids leave home and you decide you can now just about afford to pack in the job and live in semi comfort in your old age. Welcome to the middle class, where if you can’t afford to keep up with the Jones’, you can borrow it! All for the low low price of working a dead end job until your best years are behind you (FYI, the Jones’ also cannot afford it!).
Sounds bleak when I put it like that right? The problem is, this way of living is sold to us as success. It’s baked into our very culture and is taught in schools as the right thing to do. Even so, most people, in the back of their mind know that there is another way. We see it in the news all the time; investors making money in the stock market, wealthy people owning multiple properties, someone raising millions to start that tech business.
The thing is, these things seem so out of reach for the average person. I mean, where do you even go to learn about those things? Well, I’ll let you in on another secret. The fact that the average person doesn’t have a grasp on these things – is also intentional.
Now, let’s get one thing straight, this is no tin foil hat conspiracy site by any means. However, isn’t it strange that they don’t teach basic taxes, or the benefits of an ISA, or even what a credit score is, let alone how to invest and why it should be something every single person is doing? You see, the banks and hedge fund managers make too much money with the status quo. The whole wealth space is made purposefully confusing and hard to access – anyone know what a ‘K shaped recovery’ is? After all if there was nobody borrowing the money, then who would they make the money from?
The financial education they do drip feed to us is engineered to keep the average person from making any serious money. We’re told the best thing to do is to save some money for a rainy day, parhaps in a bank or a cash ISA for a cool 0.5% interest (if we’re lucky). Another great example; how many of you know exactly what your pensions are being invested into, how much interest it’s making and how much you’re likely to get when you retire? The answer is almost 0.
All this to say that what we’ve been taught as the right way to do things, is basically wrong. We still advocate going to school, working a job if you need money and even getting a mortgage. But doing these things with a good financial understanding could be the difference between retiring early, and never retiring.
And that’s exactly what we’re here to provide. Welcome to Cheapskate Investing, where we strive to provide the best investing, budgeting and wealth growing news, reviews and guides, broken down into simple to follow articles.
We believe that there is a real, simple way to financial freedom; saving more, earning more and investing the difference. Sounds simple, but it’s a lot harder than it sounds. We also think that it shouldn’t cost you the earth to do it! Cheapskate investing is a site dedicated not only to growing wealth, but ensuring that the money you do make stays in your pocket. Historically, investing was reserved for the wealthy elite, for people who could afford for someone to manage it for them. But these days, with a little know how, building an investment portfolio is more accessible than ever and we’re here to help you find the best way to do it.
So join us on this financial journey, get off that hamster wheel today and get comfortable with being a cheapskate!
Mr and Mrs. Cheapskate
We were on a plane to Italy on our honeymoon when I bought an audio book called Rich Dad Poor Dad (buy it and read it now if you haven’t, these days the author is more interested in trying to sell courses, but the message and info in the book is great) that would change the way I thought about making money. I always knew that saving money was a good idea. The saying ‘you don’t get rich giving it away’ had been drummed into me from a young age. Problem is, I still wasn’t rich. After reading the book and doing some research of my own, the saying clicked – You don’t get rich giving it away, but you do get rich investing it.
Over the next few years I researched as much as I could about growing wealth the right way. What I learned you can basically distill into 2 things – Firstly, it can be done as long as you have patience and dedication and second – there’s as much misinformation out there as there is legit. So I started cheapskateinvesting.com, a website dedicated to documenting my journey to financial freedom and to share with you all of the best tips and tricks I found / am finding along the way
This site is still a side hustle for us, more of a hobby to document the methods and tips we’re using to build our portfolio. However we’ve already managed to build a sizeable portfolio over the past few years and we’re both on track to be retired before the age of 50 (we’re in our thirties FYI).
P.S. – If you want to know exactly what we invest in, sign up for our newsletter below and receive our portfolio breakdown straight to your inbox!