How I Saved My First $100,000

The Two-Pronged Strategic Approach

Saving $100,000 isn't just about cutting costs—it's about smart financial engineering!

• Ruthless Budget Optimization

• Aggressive Income Expansion

#Budget Hacks That Actually Work

Mindful Spending Techniques

• Thrift Shopping: I curated a wardrobe at a fraction of retail prices. This alone has saved me thousands! But understand this is not for everyone, my sister breaks out into imaginary hives anytime she enters a thrift store.

• Meal Planning: Home-cooked meals + strategic leftovers. My fiancé loves to cook weekday meals but if we eat out I often will save some for lunch the next day.

• Impulse Purchase Prevention: 4-day online shopping cart waiting rule. 70% of my potential purchases eliminated if I wait at least 4 days before impulsively buying online items.

#Savings Automation

The Set-and-Forget It Method

• Open multiple free high-yield savings accounts

• Automate monthly transfers as soon as your check drops into your account

• Create purpose-specific accounts (emergency fund, travel, investing etc.)

• If you Never see the money = you Never miss the money

#Income Acceleration Strategies

Strategic part-time job selection will skyrocket results

• I focused on weekend/night side hustles during residency and currently have 3 part-time sources of income

• Focused on highest-paying opportunities to decrease time burden of multiple jobs

• I was able to save ~50% of additional income, from my extra jobs, by living mostly on my regular salary

#Knowledge is Wealth

Continuous Learning about Investing

• I read or listened to investing books while driving to work or during downtown at my side-hustles this has resulted in learning from 15+ books so far!

• I learned how to diversify investments:Stock market = invested in low-cost index funds with low fee’sMultifamily real estate = currently focusing on assets with tax-advantaged assets to reduce my tax burden

Saving $100,000 is a combination of disciplined saving, strategic spending, and continuous income growth. Feel free to reach out if you have any questions.

This article was written based on my knowledge, but I am not a certified financial planner. It is based on my own experience as a private investor