Tips on Saving

From a cheapskate. His arguments apply to families and I don't think apply to a single person like myself.

Two reasonable suggestions for families that don't apply to singles:

1. Go without a cell phone. I spend a lot per month on a cell phone, but I also don't have a landline. In the world of single-dom, this scenario works quite well.
2. Eat out less. I'm not convinced preparing food for an individual is cheaper than take out. And once you factor in quality and freshness...yeah, you can't convince me of this. Sure, I can eat like shit for cheap, but who wants to do that?

But he makes a pretty sharp point:

Collins: All right. And finally, give up college room and board. You want the kids to live at home forever?

Yeager: This is a big one, you know? Back in my day, if you have a child in school, consider having them live at home while they go to school. It's been a huge generational shift.

Back in my days, lots of people, including myself, lived at home when we went to college. Therefore, we didn't take out any college student loans. Now, of course, most kids go away to school, take out student loans. When they graduate, what do they do? They move back home with mom and dad! Let's skip the money step!

We all (AIG executives included) have grown used to some pretty expensive habits.