197: Jeff Yeager, "The Ultimate Cheapskate"

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 27 July 2015

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

What’s your definition of cheap? Do you think you’re cheap? Is the person you’re living with – cheap? I got into trouble once because I went on ABC news and talked about MY personal definition of cheap versus frugal…To me, being cheap means wasting time and energy to save money, being inconsiderate or rude or harmful in your pursuit of saving money. And as an example I mentioned some forms of extreme couponing. And boy did that get the couponers MAD! I got SO much hate email…! Now, not all couponing is bad. But I know there are people out there who spend hours a day to cut coupons and all they save is $20 or $30. $20 or $30 is not insignificant BUT when you account for all that time and energy and perhaps the fact that you were cutting coupons while your son needed your help with his science project…(I’m making this up!) that perhaps you’re not being frugal. You’re being CHEAP. And if you’re going to hate me for saying that, that’s OK by me! And all of this brings me to TODAY’s guest. Jeff Yeager, dubbed “The Ultimate Cheapskate” by Matt Lauer on NBC’s Today Show, specializes in teaching others how to spend smart in order to spend less and living frugally. He is also an accomplished author of several books on the topic, including “Don’t Throw That Away!” “The Cheapskate Next Door” and “The Ultimate Cheapskate’s Road Map to True Riches”. He hosts The Cheap Life on YouTube which also provides video content about living the good life at a fraction of the cost. If you’re an AARP member, perhaps you may recognize today’s guest as he is one of their saving’s experts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So Money episode 197, Jeff Yeager, the ultimate chieftain.
0:05.0	You're listening to So Money, with award-winning money guru Farnu Shkorabi.
0:10.0	Each day, get a 30 minute dose of financial inspiration from the world's top business minds,
0:15.6	authors, influencers, and from Farnus herself.
0:20.0	Looking for ways to save on gas or double your double coupons?
0:23.6	Sorry, you're in the wrong place.
0:25.6	Seeking profound ways to live a richer, happier life.
0:29.1	Welcome to So Money.
0:30.8	Hey, welcome back to money.
0:36.0	Hey, welcome back to So Money everyone. I'm your host, Farnish Terabi.
0:38.0	What's your definition of cheap?
0:40.0	I'm curious.
0:41.0	Do you think that you're cheap or someone you know is cheap perhaps the person you're living with
0:46.6	I got into trouble once because I went on ABC News and the topic was cheap versus frugal and they wanted my opinion.
0:53.8	So I went on a limb and I said that, you know, from my perspective,
0:59.8	I think frugal is great, frugal is sort of savvy spending. It's a wise thoughtful approach to
1:07.0	spending your money and managing your money. Cheap on the other hand means you're wasting time and energy to save money. It's sometimes being
1:16.0	inconsiderate, it's sometimes being rude, harmful in the pursuit of saving money,
1:20.1	and as an example, maybe an extreme extreme example I mentioned that you know some
1:24.7	forms of extreme couponing I think exemplify this and boy did that get the
1:29.6	couponers mad I got so much hate mail. I literally had clusters of couponers coming at me on
1:36.9	Facebook and Twitter and personal email. It was it was actually I was like
	...

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