Frugal Dude Sean Merron and his wife found themselves over $80,000 in debt, caught in a cycle of spending the money they were making as quickly as they could on things and smothered by the overwhelming complexity of their lives.
They went from that point a few years ago to adopting a frugal lifestyle and now being just 5 years away from retiring early.
Sean is 30 years old, he’s married has two kids and is on track to retire by the time he is 35. They have transformed their lives into being frugal and setting up the rest of their lives so they do not miss anymore unforgettable experiences with their kids and they are doing this while moving from city to city every 2 years.
He provides his frugal lifestyle strategies down to the simple things. Cell phone plans, cutting cable out of your house, retirement accounts and even making tacos.
“Credit gives the opportunity for people to make mistakes.”
They now save 65% of their monthly income, it goes straight into savings.
Here is how a normal middle class family has combined location independence and living frugally to be able to retire in their 30s.
“Know where you want to be and accept where you are at.”
In this episode we discuss…
Sean making $40,000 by the time he was 17 years old.
His excessive decisions like buying a $50,000 BMW with an $800 monthly payment.
Having a wife, 2 kids and a house with a pool in his 20s.
Digging his way out of $80,000 in debt.
Being forced with the reality that they were missing the unforgettable experiences with their kids.
His top 3 steps to take when adopting a frugal lifestyle to early retirement.
The tools that he’s created and implemented into his own life.
His evolution to being a frugal dude.
Sean’s book The Early Retirement Roadmap
2FrugalDudes podcast with host Kevin Griffin
Dave Ramsey at Financial Peace University
Google Project Fi for cell phones.
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