In this interview with Vanguard Eric Tyson, one of my favorite investment companies, Tyson states that most time people are there own worst enemies because they overspend and run themselves into debt.

The number one problem is overspending. Some Americans, frankly, are not savvy consumers. They lack the discipline to live within-or below-their means. They live in the moment, pursuing instant gratification instead of doing what’s in their long-term interest. They abuse credit cards, buy stocks without doing research, and generally have little or no idea how much they should be saving toward future goals.This isn’t especially surprising. We’re all bombarded by advertising 24-7, and it’s difficult to insulate yourself from the pressure to drive the “right” car, live in the “right” neighborhood, own the “right” stock, and so forth. Americans need to learn that giving in to that kind of pressure can have serious consequences to their financial well-being.

It is as simple as that. Easier said then done as well because it takes amazing will power to hold back on spending and to treat yourself or those that you love. So in the retrospect, try to maximize as much as you can the amount of money that you do not spend and constantly try to beat that amount. Then simply invest until your early retirement comes around.

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