Sarasota News & Books

“A compelling - and highly entertaining - look at improving both the quality of our lives and the health of our planet by consuming wisely and laughing out loud.”

— Carl Pope, Executive Director, Sierra Club

“Jeff puts the lie to the idea that frugality is no fun. I recognize in him my own delight at concocting high joy, low cost solutions to life's challenges. Enjoy!”

— Vicki Robin, coauthor, Your Money or Your Life

“Living on less is a good thing to do. It’s the only financial advice that will work for almost everyone. It’s about a quality of life you cannot buy, a sense of satisfaction you cannot fake, and an appreciation for others that gives life value. It’s also about helping to save the planet and sharing with those in need. Living on less can be funny, but it’s no joke.”

— Jeff Yeager, The Ultimate Cheapskate

Jeff Yeager is a supremely cheap guy. He re-cants, as opposed to decants, the wine he proudly serves his dinner guests, funneling cheap box wine into premium-label bottles. He only buys new clothes at stores that also sell pork chops in bulk. To save time and energy costs, he soft-boils his morning eggs along with the dirty dishes in the dishwasher. And he has reduced his dependency on money to such an extent that he was able to retire comfortably at age 46, despite having never earned more than $40,000 a year over the course of a 25-year career as a successful executive in the nonprofit sector.

Dubbed “The Ultimate Cheapskate” by Matt Lauer on NBC’s Today, Yeager now shares his unique philosophy of personal finance in The Ultimate Cheapskate’s Road Map to True Riches: A Practical (and Fun) Guide to Enjoying Life More by Spending Less (Broadway Books; January 02, 2007), a truly fresh and funny book that teaches us how to find financial freedom, make a positive difference in other people’s lives, help save the planet, and enjoy life more simply by being willing to spend less.

Behind the Dave Barry-esque humor and good cheer with which Yeager approaches the topics of frugality and simple living lies a serious message; in his view, the endless quest to make more money to buy more things that characterizes our consumer culture is a self-perpetuating trap, one that leads many of us to lose sight of our true values and priorities in life—as well as of the joys and sense of fulfillment and purpose for which there is no price tag. Having embraced his own “inner miser” long ago, Yeager now helps others break free of what he calls “The Money Step” (the dance of earning and spending that dominates our lives) by offering a novel approach to economizing on all of life’s “big-ticket” expenditures—food, health, housing, transportation, technology, and entertainment—advocating such practices and principles as:

· Fiscal Fasting – As an experiment, try to live for one week without spending any money at all. Sounds impossible? It’s not (with a little planning), and you’ll soon see just how much you already have in your cupboards and fridge; most important, a fiscal fast will force you to think about the impact that money has on your life day in and day out and will give you more insight into your spending habits than any fancy budget worksheet could ever impart.

· Forget the “Latte Factor,” Focus on Life’s Mega-Expenses Instead – It’s not scrimping on the four-dollar cup of coffee that will secure your financial future but rather being wise about life’s major Money Steps—mega-expenses such as as the size home you buy or whether you really need a new car (or a car, period). So buy a house, not a castle, and resist being caught up in the craze of buying ever-bigger homes as your income increases. There’s nothing wrong with finishing in your starter home.

· Live Within Your Means at Thirty, And Stay There – One of the great modern-day financial pitfalls is allowing your expenses to rise to meet or even exceed your income. Rather than constantly chasing an escalating standard of living, focus instead on establishing a permanent standard of living that’s both comfortable and affordable. Once you’ve attained a salary that enables you to comfortably take care of your needs, fix your standard of living at that point and invest your future salary increases in saving for your future.

· Buy Food that Costs Under a Dollar a Pound, Year-Round – It so happens that the healthiest foods in the USDA Food Pyramid – whole grains, fruits, and vegetables – are the cheapest, while the foods that should be the smallest part of your diet – red meats, dairy products, sweets – are the most expensive. Spending less on food by following the Cheapskate Diet will not only transfer weight from your thighs to your wallet, it will also make you healthier.

Disarmingly funny, yet full of practical tips and fueled by a positive life philosophy that highlights the importance of conserving resources and giving back to others, The Ultimate Cheapskate’s Road Map to True Riches will make readers question their assumptions about our “more is better” culture while pointing the way to a richly fulfilling life centered on the principle of spending less.

Now a freelance writer, public speaker, and creator of the web site www.ultimatecheapskate.com, JEFF YEAGER spent 25 years working in the not-for-profit sector, during which time he served as CEO of the American Canoe Association, the oldest recreation-based waterway conservation in the U.S. (founded in 1880) and a National Governing Body of the U.S. Olympic Committee. Previously he served as director of the American Youth Hostels, the U.S. affiliate of the International Youth Hostel Federation. He also served as the director of fundraising for the Partnership for Public Service, a think-tank based in Washington.

In 2004, at the age of 46, Yeager realized something startling. Because of the experience he gained as the self-proclaimed “Titan of Tightwads” in the nonprofit sector and the positive impact those same management techniques had on his personal finances, he had reduced his dependency on money to the point where he could retire. Or rather, as he likes to say, to become “selfishly employed,” free to pursue whatever interests he chooses, without inordinate worry over a paycheck.

Since leaving the work-a-day world, Yeager has done just that. As an active volunteer, Yeager serves on the boards of four nonprofit organizations involved in education and the environment. But most of all, Yeager has used his newfound financial freedom to pursue his passion for writing and multi-media journalism.

Jeff has appeared several times on NBC’s Today. During his career in the nonprofit sector and as a freelance writer, his media credits include the New York Times, Washington Post, Chicago Tribune, Boston Globe, Cleveland Plain Dealer, Detroit News & Free Press, Houston Chronicle, Budget Living, Modern Maturity, USA Today, ABC Evening News, Wall Street Journal, and Writer's Digest.

Jeff lives just outside of Washington, DC with Denise, his wife of 24 years. He grew up in rural Ohio, and is a Summa Cum Laude graduate of Bowling Green State University. He was a Rhodes Scholar nominee and was voted funniest student in his fourth grade class.