Frugality, frugality, frugality!

My journey through my money year of 2018 had started with some earlier insights. As I kept listening to more and more motivational speakers I started to understand. Understand that rich people are rich because of what they do. They didn´t get rich by chance and I was not poor due to mere luck. I was where I was at due to my recent actions.

So, why are rich people rich? 

There is a saying in my language: "You learn to save from rich people" 

which is used when somebody is overly economical. But there is a lot of truth in it. What do rich people do differently than steady Edi who keeps working at an office for a all his life and never gets ahead, never gets promoted, is just working the bare minimum, goes bald and has an unattractive wife?

Rich folks have healthy positive habits and they have discipline: 

  • They don't overspend 
  • They spend less than they earn
  • They don't over-consume
  • They work 50 or more hours a week 
  • They keep improving themselves throughout their life
  • They move forward quickly
  • They understand the money game

So nobody is not rich by accident, right? 

Rich folks achieved their riches because of their habits and discipline. I know, I know, a minority of you will say this "What about XY who has inherited 10 million". Sure but he/she will not remain there for along time without all the above qualities.

Many people though only see the Bentley and the mansion and think that "this coward has it due to luck". Really? Are you sure? But we know: success has nothing to do with luck! What I have learned the hard way.


Frugality, frugality, frugality! 

I have an amazing talent: I am capable of accumulating large sums of money within a very short time.  I usually work 3-5 months during winter and earn enough for 1 year. By working 60 hours workweeks. Or more. At 14 I saved enough for a 1 month holiday in Sweden, I booked and paid the flight myself, I even paid other peoples stuff and I came home with some left overs. After my first trip to Prag in 1990 I came back home with half of my money.

What helped me to accumulate lots of money within short times during all my life? 

Frugality. That is the key. I don't own a car, a house, fancy clothes or even a mobile phone subscription. I don't overspend.

I don't have a mobile phone subscription and I still own a LG old school phone... it works just fine. I think I bought it in 2009, and Im sure it could hold for it´s 10 years anniversary but this year all the mobile companies are going to discontinue the old school sim cards. Therefore I will be forced to buy one of the fancy new phones. I might get an old one from a friend. See where I am getting at?


  • I use good second hand stuff.
  • I don't own many things.
  • I don't buy unnecessary things. 

At the age of 20 I moved out from home

As a student that means total frugality. And I had my expenses under control at all times. None of my furniture was new (except for the broom), none of my clothes were new, I spend my money on books and I owned a scooter with which I drove to university, that saved me hassle and lots of time. Yet another important trait: rich people are time-aware.

  • Time is your most precious asset!
A little later, I had accumulated 10´000 CHF (that is swiss francs in the 1990ties, a lot of cash for a student) with which I bought myself a trip to Australia with 3 months of Cambridge Englisch Schooling including the internationally reknowned examination. I was still a student.

How did I achieve all this? Frugality, frugality, frugality

No eating out, eating rice and carrots, no cinemas, parties, no wine, no new clothes, working every weekend and during holidays and studying monday to friday.

Unfortunately, nobody told me to invest and back then and the internet didn´t exist but here I am now at 40 having lived a much more intense live than most pensionists nowadays. I am ready to work my butt off for the next 10 years and I know because of the power of my healthy habits, that after a few years, I will want to work for the rest of my life.


Start taking action:

Take charge of your own life

What books to read if you want to learn more:
Think and grow rich by Napoleon Hill
Think and grow rich for women by Sharon Lechter

Follow these speakers: (they also wrote a lot of books)
Brian Tracy
Toni Robbins