Super Savers Cut $4,000 a Month to Save Over 50% of Income
Updated
Updated · Business Insider · Aug 10
Super Savers Cut $4,000 a Month to Save Over 50% of Income
2 articles · Updated · Business Insider · Aug 10
Summary
Saving more than 50% of income often came from a few high-impact choices, not extreme deprivation, with Cody Berman saying his household spent about $4,000 less a month than some peers.
Tracking expenses was the starting point: Berman said detailed logging showed where to improve, while the biggest gains came from trimming housing, transportation and food.
Housing delivered the sharpest swing for Berman and his wife, who house-hacked with roommates and turned a nice home from a roughly $2,000 monthly rent cost into about $800 of income.
Kristy Shen and Bryce Leung, who saved up to 70% and built a seven-figure portfolio before quitting in their 30s, said spending had to match personal values rather than rely on unsustainable austerity.
Lower-cost locations can widen the gap further: Miguel Marquez said moves from the US to Brazil and then China helped him save about 70%, including paying around $200 a month for subsidized housing.