David,
My dad was way ahead of his time. When I finished paying off my first car loan, he suggested I bank my loan payment to my savings and pay cash for my next vehicle. Not only have I paid cash for my cars, I continued to bank my “loan payments” and put 20% down on my first, and hopefully last, home at age 36. I took out a 30 year fixed rate mortgage, but paid it off entirely 8 1/2 years later. I fully fund my 403b and I have ALWAYS PAID MYSELF FIRST, automatically for the past 17 years. I set aside about 25% of my gross income each pay check. I currently have a rainy day fund of 8 months. You just happened to be the one who has written about it for the general public. My dad was a “depression baby” and a genius to me because he really taught me how to save. I was amazed to read my dad’s philosophy about money in your Automatic Millionaire book. Bottom line is that it’s all about paying yourself first and living within your means.