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Optimal Finance Daily - Financial Independence and Money Advice

2991: The Tale of Bad Car Bill by Mr. 1500 of 1500 Days on Frugality and Resisting Lifestyle Inflation

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.41.3K Ratings

🗓️ 2 January 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2991: Mr. 1500's story of "Bad Car Bill" highlights the power of frugality and resisting lifestyle inflation. Bill’s modest choices driving a clunker, packing lunches, and avoiding flashy expenses allowed him to quietly accumulate wealth while peers squandered theirs. This thought-provoking tale challenges us to reconsider the allure of materialism and embrace financial wisdom. Read along with the original article(s) here: https://www.1500days.com/the-tale-of-bad-car-bill/ Quotes to ponder: "The consultants were a fascinating bunch to watch. They had no trouble finding ways to blow all of their new wealth very quickly." "Bad Car Bill lived the frugal life, saving and investing his money. Same old clothes, same old car and same old lunch in a paper sack from wherever home was." "Every once in a while, I think back on my days at that job, sitting on the patio at work eating lunch, I like to think he was laughing on the inside at the rest of them." Episode references: Mr. Money Mustache Blog: https://www.mrmoneymustache.com The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:31.5

finance daily the tale of bad car bill by mr.500 of 1500 Days.com.

0:40.2

One of my first real jobs in the world was working as a computer programmer at the fancy

0:45.9

headquarters of a big U.S. retailer in the late 90s. I was an employee, but I worked with a team

0:52.8

of consultants that the company had hired to help with the Y2K code remediation.

0:59.7

These consultants, with their old skills, were now tripling and quadrupling their pay as the demand to fix the old systems skyrocketed.

1:10.0

The consultants were a fascinating bunch to watch. They had no

1:14.5

trouble finding ways to blow all of their new wealth very quickly. They had fancy clothes and shiny new

1:21.9

SUVs or sports cars. They would go to restaurants for lunch every day and then go out to expensive clubs after work.

1:30.3

I had never seen people spend money like this.

1:33.5

At the time, I thought, wow, these guys are rich.

1:37.3

I was naive, just out of school and grew up in a lower middle class neighborhood.

1:42.8

I was the first one in my family to graduate from

1:45.0

college, so had never been around people like this. Later on, the book The Millionaire Next Door,

1:51.8

opened my eyes to the reality of the situation. These people were not rich and never would be.

1:59.0

I was just witnessing extreme cases of lifestyle inflation. However,

2:03.9

there was one consultant who was an exception to the big spenders, and his name was Bad Car Bill.

2:11.4

Bad Car Bill was different. He was given the moniker because he drove a hideous clunker.

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