Living Rich By Spending Smart by Gregory Karp
I received this book for free electronically from Amazon. I was intrigued by the title. Much of my reading time lately has been spent reading blogs instead of books. I have found many blogs regarding the topic of frugal living and have been enjoying them immensely. Not only are they practical (how can you not like saving money?) but they also are entertaining to follow.
So when one of them pointed out that Amazon Digital Services had this book for free then I downloaded it immediately fearing it was a one day only deal.
I enjoyed most two separate topics Mr. Karp outlined.
The first was advice regarding stockpiling. Mr. Karp advised us to buy items on sale and stockpile them for future use instead of going to store and buying what you need. I thought this was a clever strategy considering we would be buying what we always buy but in a different order and paying less because we are stocking up at the best price.
The second strategy was advice on the trap of always having a car payment. Mr. Karp says to keep going and pay off the car you have but then keep it an additional three years and pay the payment to your savings account. At the end of those three years you buy a car for cash (saving thousands in interest) and continue to pay your savings account (earning interest). Very smart, indeed.
I not only enjoyed this book but found the advice given to be well thought out and practical.