Financial Norms We Broke to Become Millionaires and Retire Early at 38

In this video, we are going to break down 5 financial norms that we broke in order to become millionaires at 35 and retire early at 38! Too many of us are subconsciously going through life, throwing our money away. This doesn’t sit well with us because we are advocates of people growing their wealth and achieving financial freedom. One of the main reasons we were able to became millionaires at 35 and achieve FIRE, Financial Independence Retire Early, was because of the financial norms we broke! The first financial norm we broke was not overspending on dining out. When we say dining out, we are talking about eating out at a restaurant, ordering take out, using services like Uber Eats and Door Dash. The average American family spends $3,000 per year dining out, according to the Bureau of Labor Statistics. The average commercially-prepared meal costs about $13. The average meal prepared at home costs around $4 for groceries - a $9 savings per person per meal. A $13 restaurant meal is about 325% more expensive that a $4 meal you prepare yourself. The next financial norm that we broke is shopping at trendy grocery stores. When we say trendy grocery stores, we are talking about stores like Whole Foods, Earth Fare, and Fresh Market, and others. The average U.S. household spends over $4,643 per year, according to the Bureau of Labor Statistics. That means that the average monthly grocery bill is $387 per month. According to a study done by Kiplinger in 2019, they found that Aldi was about 30% cheaper than Whole Foods. According to Groceryquestions.com, Aldi is between 21 to 74% cheaper than whole foods. The next financial norm that we broke is that you need to have a brand new vehicle. We know so many people, young, old, low income, high income that consistently decide to buy or lease new vehicles. According to the latest data (October 2021) from Kelley Blue Book and Cox Automotive, the average new car price is over $45,000. A 2019 article published by a AAA Research Agency, showed that the average American owner is spending approximately $9,282 per year on their vehicle, which equals to $773.50 a month. Now Check out this image from Credit Karma, that shows how the average car payments for new and used cars is rising steadily. What if you could go against the grain on this? The next financial norm that we broke is buying a house that is too expensive for our income. According to the US Bureau of Labor Statistics, the biggest chunk of the average American's budget goes towards housing, which accounts for about 37% of take-home pay. Many people spend even more. That is 9% more than the recommended percentage of 28% and 13% more than what Dave Ramsey recommends at 25%. Think about the money you could save and invest if you chose to buy a smaller home that worked for your family. Maybe it’s not in the perfect condition and perfect location that you dream of, but it works for your family, your plan and your budget. 📺 OUR CHANNEL | HOLY CITY FAMILY ► https://bit.ly/3Gx5BaK At age 35, our family of 5 became millionaires and retired early as we aggressively pursued FIRE (Financial Independence Retire Early) for over 15 years! Shockingly, we did this on a $75K income! FOCUS ► Stock Market | Early Retirement | Budgeting | Credit Scores | House Flipping | Reducing Costs | Paying off Debt MISSION ► Empowering you to achieve financial freedom to pursue your dreams & ambitions ✔️SUBSCRIBE ► https://bit.ly/3BmHUxG 🎞 WATCH OUR LATEST VIDEOS How We Became Millionaires At Age 35 On A Low Income https://bit.ly/3EjYxMD OUR JOURNEY TO FINANCIAL FREEDOM AT 38 | The FIRE Movement https://youtu.be/ZzsZSLiu7-s Big News! We Just Retired At 38! https://bit.ly/3EmLA4K Revealing Our $1 Million Stock Investment Portfolio https://youtu.be/tTPUpLHYkz8 NIO Stock Analysis https://youtu.be/vIXYdz8pP5s TESLA Stock Analysis https://bit.ly/3EoeQrH ALIBABA Stock Analysis https://youtu.be/uKQVTglyLo4 How To Invest During a Stock Market CRASH https://bit.ly/2ZyBRJC We Made $50K in 8 Months Flipping Our House https://bit.ly/3Eup8Xj Budgeting Tips | From Broke to Over $1Million Dollars https://bit.ly/3BltHBk 🙌 FOLLOW ♦ Website | www.holycityfamily.com ♦ Instagram | https://bit.ly/3bfxV2X ♦ Tik Tok | https://bit.ly/3jIC04g ♦ Facebook | https://bit.ly/2ZC3Lo3 💻 E-MAIL ► theholycityfamily@gmail.com 🎶 MUSIC Envato Elements - https://elements.envato.com/ 🏷️TAGS #FINANCIALFREEDOM #FINANCIALINDEPENDENCE #FINANCIALEDUCATION #INVESTING #MILLIONAIRE #STOCKS #STOCK #PERSONALFINANCE #RETIREMENT #PASSIVEINCOME #SAVINGS #MILLIONAIREMINDSET #INVESTMENTS ——————————————————————————— Disclaimer: All of our videos, posts, reels, or stories are for informational purposes only and do not constitute financial advice. Please do your own research. Consult a certified & trusted financial planner who will put your interests above their own before following any advice we may offer.