Is it penny wise, pound foolish? I don’t think so. I think that trying to make small economies in order to become prosperous is doomed to failure. It won’t make you rich but it will make you miserable. And being miserable isn’t a good place to start out each day. You need a decent breakfast and a positive attitude. Cutting out your daily cappuccino might help you lose weight, and it might reduce your caffeine intake, but it isn’t going to make you rich and it might well make you feel miserable.

So what about all that penny-pinching stuff? It seems to have been invented by the puritans – if you enjoy something, it has to be wrong. Some people get satisfaction out of being frugal, but if that isn’t you, then don’t deny yourself small pleasures in the belief that that’s the way to wealth.

Hang on though. Didn’t I say in an earlier Rule that the rich are eagle-eyed and that you had to stop money leaks? Indeed. But that’s different. While getting your finances in order is a good thing, going without isn’t. Make sure you aren’t giving money away by being careless (those are the leaks) but don’t deny yourself the very small pleasures that enrich your life – just don’t go mad. If you can’t afford what you want, buy less, but buy quality. Save up by all means for those big purchases or ask if you really need them, but don’t start thinking that giving up little luxuries, little treats, little life enhancers, will somehow increase your wealth. It won’t. It will keep you trapped in the poverty cycle. Escaping from the poverty cycle and the penury mindset is your key to success, your path to prosperity.

Wealthy people don’t scrimp and save. Sure some of them are quite tightfisted and you’d have to crowbar their wallets off them. But while they watch their money carefully, they don’t cut the odd coffee or buy cheap jam in the hope it will make them more wealthy. It obviously won’t.

Like being on a diet, if you deny yourself every small pleasure, you’ll probably fail. Little indulgences are the way forward. Now who else is going to tell you that?