Centrala begrepp
Maintaining a simple, frugal lifestyle and avoiding lifestyle inflation can lead to significant financial freedom at a young age.
Sammanfattning
The author describes how they achieved financial freedom at the age of 29 by living a very frugal lifestyle, despite earning a high income.
Key highlights:
- The author remembers being broke with only $200 left in their bank account, but they had a new pair of shoes.
- Since then, the author has become better with their money and now has a healthy bank account.
- The author maintains a simple lifestyle - they drive an old car, wear worn-out shoes, drink instant coffee, and eat at home.
- The author's mother also lives with them, further reducing their expenses.
- While the author looks "broke" and "unsuccessful" to their friends, their bank account tells a different story.
- The author's friends make less than six figures but spend lavishly, always questioning why the author doesn't buy new things.
- The author's strategy of avoiding lifestyle inflation and maintaining a frugal lifestyle has allowed them to achieve financial freedom at a young age.
Statistik
I still drive my 2008 Toyota Yaris that I bought for $4,000 in 2018.
I wear worn out shoes that I've had since 2014.
I made multiple six-figures when I had a 9–5 job with a one-person business.
Citat
"I remember spending the last $200 in my bank account."
"I looked broke. Unsuccessful. But my bank account looked healthy."