A SAVVY young woman has revealed how she saved £75,000 by the age of 24.
Mia, from the UK, took to social media to explain that she saves all of her money so she can retire by 40.
In the clip, she said: “I eat a 50p breakfast every day so I can retire by 40.”
Mia says she is part of the FIRE movement, which stands for financial independence, retire early, and she hopes to soft retire by 40.
But before she gets there, Mia reckons she needs to save £1.25 million to be financially secure.
That means Mia has to make lots of sacrifices now to be able to enjoy life later on.
Some of those sacrifices include sticking to the same breakfast of an egg and half a bagel every day to keep within her budget.
Mia also revealed she never gets a coffee while out and never gets her nails done.
She said: “It means hustling extra hard in my 20s and cutting back on things like daily coffees and getting my nails done.
“It also means that at 45 I won’t have to ask my boss for a random Wednesday off, I’ll just take it that’s my motivation for wanting to retire early.”
In another clip, Mia revealed: “I have over £75,000 in my savings and investments at age 24. I’m going to tell you guys exactly how I got there.”
The first way she was able to save so much money was by not paying rent as she lived with her parents.
[bc_video account_id=”5067014667001″ application_id=”” aspect_ratio=”16:9″ autoplay=”” caption=”B&M shopper rushes to buy energy-saving gadget scanning for £1 instead of £35″ embed=”in-page” experience_id=”” height=”100%” language_detection=”” max_height=”360px” max_width=”640px” min_width=”0px” mute=”” padding_top=”56%” picture_in_picture=”” player_id=”default” playlist_id=”” playsinline=”” sizing=”responsive” video_id=”6367897247112″ video_ids=”” width=”640px”]“I’m incredibly lucky and privileged to have been supported in this way,” she said.
“This meant that I could automatically put anything I would have spent on rent and bills in my savings and investments.”
[authenticated-scripts src=”%3Cscript%20class%3D%22palin-poll%22%20src%3D%22https%3A%2F%2Fwww.thesun.co.uk%2Fpollingwidgets%2Fv3%2Fwidget.js%3Fquestion_id%3D107011%26game%3Dpolling%22%3E%3C%2Fscript%3E” type=”embedded” width=”100″ /]She also always brings a packed lunch with her to work, never eats out and always buys clothes second-hand.
To top up her salary, Mia also does lots of side hustles like making social media content and modelling.
The clips have since gone viral on her TikTok account @miarosemcgrath and people have been left impressed by her dedication.
One person wrote: “This is not realistic for normal young people because the cost of living is too high.”
Another commented: “Living below my means is the most important way I’ve been able to save a similar amount of money! And increasing my income, of course…”
“Wow this is super impressive!! Well done! I save 10% of income a month,” penned a third.
Meanwhile a fourth said: “Older you is going to be very thankful of your current savings rate! You’re smashing it!”
“Brilliant, good for you, well done,” claimed a fifth.
Someone else added: “I love this. It’s so inspiring. It’s about securing your income & future. I’m all for that.”
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