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wasn’t prepared to pay fuel prices for the 70-mile round-trip commute. So . . . I rode my bike.
    Riding an old mountain bike 70 miles a day through rain and sleet on my way to work and back gave me a frontrunner’s edge for the bonehead award. At the time, I had an investment portfolio that would have allowed me to buy a brand-new sports car in cash, if I had wanted to, and I could have rented an ocean-side apartment. But the people I worked with probably thought I was broke.
    One of my fellow teachers saw me at a gas station on my way home from work. We were both picking up fuel—but mine was of the edible kind. Rushing up to me as I straddled my bike and stuffed a PowerBar into my mouth she said: “We should really start a collection for you at the school, Andrew.” If I thought she was kidding, I would have laughed.
    After a while, even I decided my lifestyle was a little extreme. To make things easier, I moved closer to work after placing an advertisement in the local paper: Teacher looking for accommodation for no more than $450 a month . It was far below the going rate, but I reasoned an advertisement selling myself as employed and responsible—while leaving out a few other adjectives—might attract someone looking for a dependable tenant.
    I only got a couple of calls but one of the places was perfect, so I took it.
    Because I had been investing money since I was 19, I already had a growing nest egg. But I wasn’t willing to sell any of my investments to pay down my loans. I threw every extra income dollar I could toward reducing my student loans. One year after working full-time and living like a monk, I paid off my debts. Then I redirected the money enthusiastically into my investments.
    Six years after paying off my student loans, I bought a piece of oceanfront property and calculated how to aggressively pay down the mortgage. I even took a higher interest rate to increase my flexibility of mortgage payments.
    Once I paid it off, I shoveled money, once again, into my investments.
    Admittedly, few people despise debt as much as I do. But once you’re debt-free, there’s no feeling like it.
    Don’t get me wrong. This part of my financial history isn’t a “how to” manual for a young person to follow. It was a fun challenge at the time, but it wouldn’t appeal to me today. And my wife, who I married much later, admits it wouldn’t have appealed to her—ever. That said, if you want to be wealthy, you dramatically increase your odds if you’re frugal, especially when you’re young.
    Looking to the Future
    Responsible spending habits are often overlooked by people who want to be rich. It’s one of the reasons many people nearing retirement age have to work when they would rather be traveling the world or spending time with their grandchildren. Naturally, not everyone has the same philosophy about work. But how many people on their deathbeds ever lament: “Gosh, I wish I had spent more time at the office,” or “Geez, I really wish they had given me that promotion back in 2015.”
    Most people prefer their hobbies to their workplace, their children to their BlackBerries, and their quiet reflective moments to their office meetings. I’m certainly among them—which is the reason I learned to control my spending and invest my money effectively.
    If you’re a young person starting out and you see someone with the latest expensive toys, think about how they might have acquired them. Too many of those items were probably bought on credit—with sleepless nights as a complementary accessory. Many of those people will never truly be rich. Instead, they will be stressed.
    By learning how to spend like a rich person, you can eventually build wealth (and material possessions) without the added anxiety. You don’t have to live like a pauper to do it either. Apply the investment rules that I’m willing to share, and