A SELF-STYLED “career and life best” has dropped his tips for saving £50,000 in four years – and is confident it’s not as hard as it looks.
Money savvy Kennie revealed that from the time she started working at 21 until she was 25, she had a three-step strategy in place.
Speaking about Tik Tok, she revealed that she “didn’t do anything special” to save money.
But her method requires consistency and not getting caught up in what she calls “lifestyle inflation.”
Kennie started: “I get asked a lot how I was able to save up £50,000 when I was 25 years old.
“And keep buying a property, have enough money to buy another property because the money kept growing.
“And to be honest, I didn’t do anything special.”
The compliance officer added that she didn’t listen to the advice of “personal finance gurus” online and still had everyday luxuries like coffee and a Netflix membership while saving.
She explained: “I was actually enjoying my life at the same time.
“There are three main things, right.
“The first thing is to pay yourself first.
“At this point I was 21 and I was earning £28,000.
“Every time I have my salary, I cut it in half – half of it goes straight into my savings and I don’t touch that money.
“If I ever touch the money, I owe myself money and I’ll pay it back next month.”
Kennie’s second tip was to “choose high-paying jobs” and move on from companies if you can get a better salary elsewhere.
However, she admitted that a higher salary prompted her to buy a fancy BMW, which caused “lifestyle inflation”.
Kennie explained: “It’s lifestyle inflation – avoid it because it will eat away at your savings.
“So what I did after a while… I was like, ‘I’m selling this BMW.’
“I was paying £300 a month for it and I wasn’t able to save that much.”
By selling the car, she avoided lifestyle inflation and kept her monthly expenses down, meaning she could invest more in her savings.
Kennie then bought a cheaper car to fit his savings goals.
She wrote in the caption that she wants the video to inspire people who work a 9-5 job that feels like they can’t save.
Another important key to her savings goal was to stay with her parents as long as possible.
Kennie’s video struck a chord with thousands of people.
It has amassed over 220,000 views and 26,000 likes.