Take a stroll back in time with me all the way back to January 30, 2000. I was a young boy living with three other guys in Atlanta, GA. The Super Bowl was in town on that January night and parties were happening all over town. And yet, there I was sitting on the couch eating frozen fish sticks and minute rice…..again. For the millionth time in a row. Why would a smart young man choose such a miserable lifestyle? Because that night was part of a much bigger plan. A much, much bigger plan.
I was born in a small town located in southwest Georgia. My family wasn’t poor but almost everyone in that little small town lived differently than folks in cities like NYC and LA, or even Atlanta for that matter. That’s where my first taste of frugality was born and thank goodness for it. My Dad was the ultimate cheapskate. He drove ugly green trucks until they quit running. He tucked away loose change before cool machines would do the work for you. And he instilled a sense of frugality in me that would stick around forever.
I carried the frugal torch all the way to Atlanta as I grew into a young adult. I lived in a two-bedroom apartment with three other dudes. I drove my Mom’s old hand-me down car. I worked part-time jobs supervised by idiot teenage boys. I rolled those same pennies as my Dad. And yes, I ate cheap frozen foods and nasty minute rice every night because those foods gave the me most nutrition for the lowest cost. I lived this exact same way for a very long time.
For seven years after college, I consistently stayed home while friends hit the town. I chose reading books to late-night booze fests. I said no thank you to restaurant invitations hundreds of times. I wore the same clothes over and over again. And for seven years, every single day was the same.
Until one day, I looked up and recognized something that looked very familiar. You see, I had created a goal seven years prior to that day. My goal was to save $150K. The money was step one towards my bigger goal of building a business. And after seven hard years of living in frugality, it finally happened. The money was in the bank.
I promptly invested every one of those $150K dollar bills into a fledgling cleaning company called Two Maids & A Mop. For the next several years, I lost money every day. In fact, I almost lost every one of those $150K dollar bills. During that time, I continued my passion for frugality by driving ugly trucks just like my Dad. I never once paid for one cent of interest on my credit card. I continued to eat cheap foods. I purchased used clothing off eBay. I paid no one to do anything because my time was free. And I never spent one penny on a vacation.
Times were tough. But like always, I was fine with everything because all of this was part of a big plan. The plan was long, no doubt. But it was a plan that I devised a long time ago and there was no way I was going to lose. So I kept saving money. Kept living like a homeless man. All because my plan of attack said to do it.
Eventually, good stuff started to happen. Two Maids & A Mop started to take off and make some real money. The business expanded to multiple locations across multiple states. And all of the business’ growth allowed for every one of those initial $150K dollar bills to be re-injected back into my savings account.
Today, I’m what they call a one percenter. My personal net worth is pretty darn impressive in fact. But guess what? I still cut coupons. I still drive hand-me down cars. And I continue to eat cheap foods to save money. Seriously, I eat potato chips every day for lunch. Potato chips, a coke and nothing else. It’s terribly bad for my health but it sure does save me a ton of money.
The good news is that all of this is still very much part of a bigger plan. My goal is to create a national brand with locations in every market throughout this great country. It’s going to happen because that’s my plan today, yesterday and even thirteen years ago.
Frugality gets a bad rap. Saying no to a Super Bowl party may not sound like your idea of a good decision. But what if the decision was part of a much bigger plan? Would that make it different for you? I think so. Saving money and living below your means takes serious sacrifice. But the sacrifice doesn’t have to feel like a sacrifice if you’re making those decisions with a purpose. I have a purpose. What is yours? Whatever it is, take it seriously and refuse to lose. And start saving a few bucks too because you’ll need them at some point.
I’m a proud cheapskate but equally proud of everything that I’ve built. Yes, I’ve vacationed in some pretty exotic places now that my wealth has reached a certain level. And I’ve been known to spend a few hours on a private plane. But don’t confuse those decisions because I know where I’m going. The question is…where are you going?
Thanks for your time today and I hope my story provides you with at least a little bit of inspiration and direction. Please follow me if you’d like to learn more about my journey from a broke young man into a nationally-recognized CEO. And oh yeah, check me out on Linkedin too and let’s connect.
