Comments on No Debt MBA: I don't want to be like the Obamas

Great post - I read the Davis Discipline, and the ...

2011-06-10T11:42:52.501-07:00

Great post - I read the Davis Discipline, and the Davis family really opened my eyes to frugality and living well below your means. Their methods were a little extreme in my opinion, but the discipline and mentality is to be admired.

Haven't read The Millionaire Next Door: Surprising Secrets of America's Wealthy, but sounds like it has similar concepts - I might have to check it out.

Thanks for sharing this story. It's the first ...

2011-06-10T11:21:26.855-07:00

Thanks for sharing this story. It's the first time I've heard about the amount of school debt they had.

This makes me want to avoid business school all the more, so that I don't rack up all that debt.

I'll continue reading the Personal MBA books and blog about it instead.

I'm not sure I have an actual financial role model. Almost all the helpful advice I've learned was from reading.

Mattu00 - My dad is my biggest financial role mode...

2011-06-10T08:57:06.339-07:00

Mattu00 - My dad is my biggest financial role model. Like your parents he's done a lot when he started out with very little salary-wise.

optionsdude - I hear books about young wizards gross billions. You should get on that!

Paul - I read his book The Millionaire Next Door: Surprising Secrets of America's Wealthy a couple years ago. Frugal living leading to wealth is the premise of the book and the author supports it with data.

I didn't realize he had a blog or had written another book - Stop Acting Rich: ...And Start Living Like A Real Millionaire. Thanks for the link!

Very interesting post. I had no idea the leader of...

2011-06-10T08:38:40.837-07:00

Very interesting post. I had no idea the leader of America was so bad at personal finance.

I just stumbled onto this site yesterday. (http://www.thomasjstanley.com/blog.php?Category_ID=1) and thought you might be interested. A ton of really wealthy people appear to have gotten rich by living very conservatively with very frugal spending.

I guess I need to start working on that book, huh?...

2011-06-10T08:28:12.950-07:00

I guess I need to start working on that book, huh? Maybe a little boy wizard, perhaps?

That would be my parents. Both graduated in the mi...

2011-06-10T06:51:15.337-07:00

That would be my parents. Both graduated in the middle of a recession with little or no debt, but little or no assets. Soon thereafter they were married and my dad started his own company. For years until my dad's company took off they got by on very limited income, creativity, and a kind neighbor's asparagus patch.
Even so, they managed to build a house with their own hands, pay it off in 15 years, and raise 10 children there. That still doesn't mean I ever want to eat asparagus again, though. ;)