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'Cheapskate' Gets By On Ideas

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By STEPHEN FRATER, Sarasota Herald-Tribune

Published: February 16, 2008

SARASOTA - 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 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.

He has reduced his dependency on money to such an extent that he was able to retire comfortably at 46 after a 25-year career in the nonprofit sector, having vowed, with his wife, Denise, that they would always live on $40,000 per year or less, no matter how much money they made.

Dubbed "the Ultimate Cheapskate" by Matt Lauer on NBC's "Today Show," Yeager was in Sarasota on Friday - on his bicycle - to share his unique philosophy of personal finance in his book "The Ultimate Cheapskate's Road Map to True Riches: A Practical (and Fun) Guide to Enjoying Life More by Spending Less."

It has been received by critics as a fresh and funny book that teaches 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. The book is in its fourth printing since being released in December.

Beneath a humorous style, Yeager approaches the topics of frugality and simple living as serious messages.

In his view, the endless quest to make more money to buy more things that characterizes our consumer culture is a self-perpetuating trap. He says it is one that leads many to lose sight of true values and priorities in life, as well as of the joy 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. He offers a novel approach to economizing on all of life's "big-ticket" expenditures: food, health, housing, transportation, technology and entertainment.

"Living on less is a good thing to do," Yeager said. "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."

Now a freelance writer, public speaker, and creator of www.ultimatecheapskate .com, Yeager spent decades working in the nonprofit sector.

He was chief executive of the American Canoe Association, which bills itself as the oldest recreation-based waterway conservation in the United States (founded in 1880) and a national governing body of the U.S. Olympic Committee.

Yeager also served as director of the American Youth Hostels, the U.S. affiliate of the International Youth Hostel Federation, and director of fundraising for the Partnership for Public Service, a think-tank in Washington.

Now 49, Yeager, who graduated summa cum laude from Bowling Green State University in Bowling Green, Ohio, lives outside of Washington with Denise, his wife of 24 years.

He grew up in rural Ohio and was voted "funniest student" in his fourth-grade class, and though he intersperses humor into his current work, he maintains that it is no laughing matter.

"It's about helping to save the planet and sharing with those in need. Living on less can be funny, but it's no joke."

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