- Published on
"Frugal Living Hacks from Someone Who Spent $20,000 a Month and Still Saved"
- Authors
- Name
- Luxe Wealth Strategies
- https://instagram.com/luxewealthstrategies
Reading Time: 2 min read
Living on $1500 a month
- The speaker lived on 20,000 a month, and was able to do so by being frugal and strategic with his finances.
- He prioritized three big cost centers: transportation, living, and food.
Food
- The speaker ate out every day, and found that the cheapest options were Chipotle, Panda Express, and Chick-fil-A.
- He recommends meal hacks and prep to save money and time.
Transportation
- The speaker recommends buying a used vehicle in cash, between 10,000.
- He also recommends driving for Uber to make extra money.
Living
- The speaker lived in Southern California and was able to find a roommate to split the cost of rent.
- He recommends finding a room in a shared house with like-minded individuals who share your goals.
Relationships
- The speaker believes that having strong relationships is key to success, and recommends being a good friend and providing value to others.
- He also recommends not needing anything in return for helping others, as this can lead to stronger and more meaningful relationships.
Money habits
- The speaker recommends tracking your bank account daily to stay on top of your finances and stay motivated.
- He also recommends getting competitive with your bank account, and setting goals to increase your income and decrease your expenses.
Gaming your finances
- The speaker believes that gamifying your finances can be a powerful way to stay motivated and focused on your goals.
- He recommends setting up a system to track your progress and celebrate your successes.
Overall
- The speaker emphasizes the importance of being frugal, strategic, and proactive with one's finances.
- He believes that these habits can lead to greater financial freedom and success.
Source: Get Rich In 2023 Live Like You’Re Broke, Alex Hormozi