Twice as Nice or Pay the Price: How One Man Banks 95% of His Income

A leading money guru has overnight become a star after espousing a radical savings philosophy: "Don't buy it unless you can afford it twice." This simple but potent rule has enabled him to save a staggering 95% of his income, and has inspired a new generation of cheap spenders and wise savers.

 

Key Points:

 

•⁠  ⁠The "Twice Rule" is where you only spend on discretionary items if you could afford to spend on them twice, never stretching a budget or undermining savings goals.

 

•⁠  ⁠The advisor emphasizes aggressive saving and investment, investing most of his income in diversified portfolios, emergency funds, and long-term investments.

 

•⁠  ⁠He resists lifestyle inflation, choosing simple living and frugal spending—despite the increase in his income.

 

•⁠  ⁠Necessities like groceries, shelter, and medical care are planned out in the budget, and impulse buys and indulgences are rare and always brought under the "twice" scrutiny.

 

•⁠  ⁠This plan builds wealth, enabling you to retire sooner, invest more, and have peace of mind in times of fiscal distress.

 

Prospects: The "Twice Rule" is a wise rule of thumb for those who wish to attain financial independence. By focusing on frugal spending and high levels of saving, people can build enduring wealth and security—regardless of income.".

 

Source: CNBC, Business Insider