- Guest John Pugliano joins us to share the result of 30 years of frugal living has had on his finances
- Simple rule that allow the Pugliano's to become financially independent
- The crucial element to building wealth
- Why you need to focus on what is really important to build wealth
- Quote of the lesson from Jon Acuff
John Pugliano from wealthsteading.com joins us today to share the impact that 30 years of frugal living has had on his family's finances.
Usually when I have guests on the show to share their story, it is a story of getting out of debt in the last two to three years. However today story is unique in that John is sharing his story of over 30 years of wise purchases. What I love about his story is that he stuck to a plan and it has paid off quite nicely for him.
John and his wife’s story is one from the Thomas Stanley classic, “The Millionaire Next Door”, in that their plan was nothing flashy. Instead is what just being consistent over and over. John and his wife had similar views on spending and saving which helped a lot. In addition they didn’t simply ever spend more than they made, outside of a mortgage only ever had one car payment, no student loan debt, and no credit card debt.
But it always wasn’t a smooth ride, there were ups and downs and bad decisions regarding career choices were made. In fact John didn’t really start to make progress on becoming financially independent until he was 35 years old. But it didn’t deter him and now John is a money manager and founder of Investable Wealth LLC.
To John there are three main wealth building principles to master:
- Learn to earn an income
- Develop the discipline to save
- Learn how to invest
For John there really isn’t one way to build wealth. You can do so via real estate, stock investing, commodities, or starting a small business. However being debt free was crucial to building wealth for John and his family.
I’m honored that John shared his story and I hope you find it encouraging in your journey towards improving YOUR economy.
To check out John’s podcast visit wealthsteding.com
Today's quote of the lesson is brought to you by Podbean.
“Never compare your beginning to someone else's middle”
― Jon Acuff
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