I Lived On $1,200 A Month

Summary

• I lived on $1,200 a month by being extremely frugal. I only bought food at Costco, and I meal-prepped all my meals to save money.
• I didn’t eat out, buy new clothes, or spend on anything unnecessary, and I only paid for my car's gas. This helped me save significantly.
• I remember balking at a $29 monthly gym membership, showing just how careful I was with spending.
• By saving almost all I had, I built a financial cushion that allowed me to quit my job when I was ready.
• Having two to three years of saved living expenses gave me the confidence to pursue my goals without needing immediate financial returns.
• My saving habits allowed me more opportunities to take risks and try different paths toward success.

Video

How To Take Action

I would suggest implementing strict budgeting like I did when I lived on just $1,200 a month. Start by only purchasing necessities, focusing on bulk buying from places like Costco to save money on food. Meal prepping is a great way to reduce food costs and avoid the temptation of eating out.

A good way of controlling unnecessary spending is to evaluate every expense closely. Think about whether you really need it, like when I balked at a $29 gym membership. This mindset will help you save a significant amount over time, creating a financial cushion.

Aim to save enough to cover at least two to three years of living expenses. This gives you the confidence to pursue new opportunities without the stress of immediate financial returns. It’s like building a runway for yourself to take off and explore new paths towards your goals.

If you’re an entrepreneur or looking to start a business, these savings allow you to take calculated risks. With that cushion, you have the freedom to test different ideas and strategies without the immediate pressure of needing them to succeed right away.

Remember, these small sacrifices in spending can lead to big opportunities down the line. The ability to focus on your goals without financial stress is invaluable.

Full Transcript

I lived on I think $1,200 a month at the time I only bought food at Costco I meal prepped all of my food I never ate out I didn't go out I didn't buy new clothes and I paid for gas in my car I remember going to a gym and they said the membership was $29 a month and I was like a month like what you guys crazy I basically spent no money and saved everything I had with that money I was able to then say you know what I have the cash to quit my job and actually go all in on this thing cuz if I had to make money the next month I would never have been able to quit my job but I knew that I had two to three years of Runway that I had bought myself through saving so that I could basically give myself more shots on goal