5. Mr. Money Mustache Has a Set Philosophy Regarding Money and Savings
There are six points to the Mr. Money Mustache philosophy. Thanks to his large readership, there are many people who utilize each of these points to the letter in hopes of achieving the same financial security as Mr. Money Mustache has.
The first point of the philosophy is to avoid waste. According to Peter, the “average” person and family wastes ridiculously large amounts of money. Avoid this at all costs. If you don’t really need it – for life – chances are you don’t need to waste your money.
The second point is that everyone needs to spend their money on what makes them happy. Conversely, they don’t need to spend money on items that don’t add to their happiness level.
Number three is, don’t ruin the planet. Recycle, reuse, and try to live as a global citizen. Think of others and rather than throwing away old clothes, give them to charity. Number four is that spending money on items that help make your life easier may make you soft in the long run.
Number five is to find simple investments to put your money into. Consider real estate and index funds, which is exactly what Mr. Money Mustache did. The last point of the philosophy is to teach your kids to work hard and how to save money.
While there are some who call him extreme, others see this as honesty and a smart way to save to have a secure financial future.
4. The Real Reason for the Name “Mr. Money Mustache”
One of the biggest and most common questions Peter receives is why he chose Mr. Money Mustache as his financial persona. He loves giving people nonsense answers. In fact, he once stated that he had several origin stories he used from time to time. One was that he was having issues sleeping on a hot night, so he left bed and ran to the peak of a nearby mountain. While there, a bolt of lightning left the imprint of a mustache on a nearby piece of granite.
The real reason for the name, according to Mr. Money Mustache, is because the word “stache” rhymes perfectly with “cash,” and the old saying goes, you need to “stash your cash.” Also, mustaches are seen on gunslingers, bankers, and Magnum, P.I., which are all things that inspired the name, as well. At any given time, Mr. Money Mustache has some type of mustache going on, whether it is a small, handlebar mustache, or a full, bushy, curved one like what is seen on his blog site.
The goal was for him to create a persona that showed he had an extreme level of confidence in himself, and his financial advice. Once in an interview he stated that no one listened to him in real life; however, on the internet, everyone listens. He said that people work best when told what to do, and that they need a boss so they quit making excuses.
3. His Financial Advice has been Published on Several National and International Platforms
If you are into financial, savings, and investing news and tips, there is a good chance you have heard of Mr. Money Mustache. Even if you don’t actively seek information on these topics, you have likely heard the name or persona in the past. The fact is, the financial tips and advice provided on his blog have gained quite a bit of attention. This is not just attention from readers and those who are searching for a way to save more money and live in financial freedom. In fact, a number of national and international news outlets, magazines, and respected websites have published and taken notice of Mr. Money Mustache.
Some of the publications where you can find Mr. Money Mustache mentioned, his blogs and tips published, and present on, include: AARP, Business Insider, Der Spiegel, The Economist, MSN, The Huffington Post, Yahoo!, CNN Money, CBC News, Forbes, The Washington Post, and NPR.
As you can see, Mr. Money Mustache is not just another advice style blogger who is just rehashing the same, tired material about how to earn and save more money. His tips are based on his life. He lets you know what worked for him, and how to do the same thing yourself. The valuable information on this blog keeps coming, allowing more and more people to become privy to this information that can help them save money, and perhaps retire much earlier than they ever imagined.