MMM (Mr. Money Mustache) Philosophy

[Tara Hall]

Do any investors out there follow, know of, or appreciate the money-savvy principles and philosophies of Mr. Money Mustache?  I've been following the posts on his blog for the past year and have learned quite a bit from his money-saving tactics and views toward minimalist-ish spending.   Any investors that do follow MMM, how do you implement his thoughts/practices into your real estate investing?  

I often cringe when I see some investors telling others they need to spend 10s of thousands of dollars on marketing when they're starting out...it just seems to contradict everything I've learned about only spending what we need and not being wasteful with our money.  I'm not into real estate investing just so I can make endless amounts of money, I just want to make enough to live responsibly and to cover my living expenses...and have fun in the process.  I don't want to be one of those people where the more money I make, the more money I need.  Thoughts?  Insights? 

[Rob K.]

First off, anyone who advocates biking the way he does has a soft spot in my heart.

His basic message of frugality fits in with my way of thinking, although in some areas he seems a bit extreme.

From a long term buy and hold perspective, the focus on cutting costs and watching and being conscious of your spending is a good thing to take to heart. On the other hand, as a landlord you need to remember you are providing a service, and what may seem frugal to you may seem “cheap” to your tenant. They will not be as appreciative of MMM’s philosophy if your frugality impacts their lifestyle.