Nowadays articles and tips teaching people how to save money are everywhere on the internet. Just type save money into Google’s search bar will return you countless pages on how to sign up for the right credit card, travel using certain websites, or use coupons and so on. But do those really work? Are those convincing enough for you to even consider giving it a try? What’s better than giving you a real example of how a couple paid off $100,000 in debt and start living a happy live?
Pittsburgh newlyweds Andrew and Veronica Kaslewicz, who are in their late 20’s, found themselves left with $100,000 in debt after all the student loans, and credit card debt. The heavy financial burden seems to be more frustrating when Andrew doesn’t want to work full-time, as he wants more freedom and family time than becoming someone who works 70 hours a week with no life. They decided to be smart about this, so Andrew sat down and read everything he could about money and financial system. A blog called Secondhand Millionaires was created to document their journey and share their advices with others. Throughout this journey, they learned how to do things on their own, they stopped impulse spending and never paid retail price. They even maxed out their 401k. They started with one of their hobbies: attending garage sales and auctions. The Kaslewiczs called themselves the “frugal entrepreneurs”, who flips other people’s ‘seconds’ while save and invest the profits (Kind like the TV Shows storage wars). It took only two years to pay off the student loans, credit card, wedding, and a car. They accomplished this by save and invest 70% of their total income and live off of the remaining 30%. What is more shocking is that they even paid off more than half of their mortgage– $76,000 in less than a year and half.
Have questions? Shoot them an email at Second Hand Millionaires.