‘5 things I refuse to spend money on’
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My first 6-figure year was in 2018. as a freelance writer on FiverrWriting blogs, press releases, and web content for clients, I earned nearly $300,000.
Now, at 29, I have six streams of income — from freelance writing, influencer sponsorships, eBook sales, course sales, ad revenue and affiliate revenue. My net income was just over $400,000 last year.
Just like any gig economy worker, I also know that it is impossible to make this kind of money every day. While I do sometimes indulge in food and entertainment, my goal is to save money and increase my net worth. Three properties are also my Florida property. They’re all worth nearly $1.2 million.
These are the five things I will not spend money to help me live my dreams and keep most of what I earn.
1. Handbags, designer clothing and new handbags
My fashion shopping comes from thrift stores such as Pavement or Buffalo Exchange. So I don’t spend thousands of dollars on handbags and designer clothing.
The rule of mine is not to shop more than $2,500 annually. By donating my old clothes to Goodwill, I not only save money but also help the environment.
2. Flights not subsidized
When I make purchases on travel and food, I earn travel points. My Chase Sapphire Rewards card covers almost all of my rental car and flights.
I save about $2,000 every year on travel expenses and flights by using the card, even though it comes with a $300 annual cost. The JetBlue credit card I have allows me to accumulate enough points each year to pay for a couple of flights.
3. Mieten
I purchased my first property, which I currently live in, in March 2021 — then bought an investment property in Miami in October 2021, and another in March 2022.
My rental property has long-term tenants whose rent includes my homeowners association (HOA), mortgage, and other fees.
In the house that I live in now, the amount I pay on my mortgage is, in some cases, less than what I would pay to rent the same house — except I own it.
4. Drinks after 8 p.m.
Happy hour fits perfectly into my morning routine. It’s a joy to check out happy hour deals at bars and restaurants around the area, particularly when traveling.
Drinking and eating earlier can reduce the cost of your food by one-third compared to if you eat at 8 p.m.
5. Trips by Uber that take less than 3 miles
For $30 Uber ride there and back, I will only walk to three-mile destinations. This rule allows me to explore whole cities or towns without spending a lot of money when I travel.
My goal is to get at least 12,000 steps a day. This includes when I travel to Southwest Florida. I make sure to check the maps before going so that sidewalks are visible.
When I travel without my Jeep Wrangler, walking is a great way to save more than $300 per monthly on transport.
Alexandra Fasulo is an entrepreneur, freelance writer, and host of the podcast Freelance FairytalesThe article covers all freelancers require to navigate the gig economy. Follow her on Instagram @alexandrafasulo.
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