Thrifty Woman Spends Just $7 per Month on Food, Saves Up $80,000 in 4 Years

A 24-year-old woman became the talk of South Korean social media this month after it was revealed that she managed to save up 100 million won ($79,400) in 4 years by being extremely thrifty.

Ji-hyeon Kwak started working when she was 19-year-old and quickly realized that she needed to save money if she was ever going to get her own place to live. Despite earning an average of 2 million won per month (after tax), the young woman managed to put enough aside every month to save over 100 million won in the last four years. That was enough for her to win an apartment subscription, which means she will soon get her own place to live. But, as you can imagine, saving that much money on such a small salary wasn’t easy. She had to take her thriftiness to an extreme level, which included spending just 8,400 won ($6.7) on food per month.

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Frugal Homeowner Pays Off $255,000 Mortgage in Just Three Years

Setting the standards for extreme frugality in finances is 30-year-old Sean Cooper. Despite not having a glamorous job, he managed to save enough money to pay off a whopping $225,000 mortgage in only three years!

Cooper purchased a $425,000 house in Toronto, Canada, in 2012 and since then, created a strict pauper-like regime for himself. He started by getting himself two additional jobs to supplement his income as a pension analyst, working a total of 100 hours a week. He wrote financial articles in his free time, and also took a $13-an-hour job at the meat section of a supermarket, even though he’s a vegetarian. “It wasn’t the most glamorous job, but it helped me pay off my mortgage, so I can’t complain,” he said.

“For a lot of people, their mortgage is like a life sentence. I just wanted to not have a mortgage hanging over my head for the next 30 years.”

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