Being six figures in debt sounds like a waking nightmare for many people. For TikToker Bradley on a Budget, it was reality. As a graduate of the Culinary Institute of America, he ended up with six figures in student loan debt for a degree he said allowed him to earn only between $12 and $14 an hour. “And I thought my life was completely over,” he admitted in a TikTok video.
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The stress of trying to survive while paying back his loan debt was so overwhelming that at one point, he ended up in the hospital. Still, he found the will to overcome his financial difficulties: “I knew if I made good choices, stayed focused [and] worked hard, that one day it could possibly get better.”
And it did get better. Over 11 years, he managed to amass six figures in savings, ending up with $250,000 to date. Interestingly, he had the potential to earn even more — but there’s something everyone can learn from his story.
He Got Extremely Frugal in Every Area of His Life
Nobody could accuse Bradley on a Budget of not having an extremely accurate screen name. He’s found ways to pare down expenses in almost every aspect of his life, including unplugging his refrigerator when he goes on vacation and taking the risky step of forgoing health insurance to save money each month.
Although some of these choices may seem extreme, his embrace of living small has allowed him to save thousands of dollars while adopting many practical savings tactics, like cooking in bulk to avoid eating out. By relying on staples like chicken and sweet potatoes, he keeps his individual meal costs down to under a dollar while also ensuring he eats healthfully.
To avoid high utility bills, especially in the colder months, he essentially winterizes his apartment by sealing drafty areas, layering his bed with blankets and his body with warm clothes, and using natural sunlight to heat his apartment.
Even in areas where many people would be pressured to spend, Bradley on a Budget has found workarounds, such as saving gift bags to reuse.
Learning to Say No So He Can Say Yes
Staying disciplined while living frugally can be tricky, so Bradley makes a point of reminding himself of the benefits of keeping his spending tightly controlled. He talks about the value of not shopping or acquiring big items like a car to impress others who might only appreciate him for appearing wealthy.
For Bradley, who acknowledges that being so deeply in debt caused him financial trauma, knowing he has control over his finances provides peace of mind, which he values more than material possessions. “I’m not constantly chasing for more. I’m happy with what I have,” he said.
This doesn’t mean he never indulges — but when he does, it’s for something he truly wants, like an annual vacation or tickets to a concert. He’s also proud of his ability to be generous with his savings, like buying his sister a wedding dress.
He’s No Stranger to a Side Hustle
You may work hard, but Bradley on a Budget works harder. In the course of a month, it’s not uncommon for him to juggle upwards of 10 — yes, you read that right — side hustles. His gigs include everything from pet sitting, lawn mowing, nightclub dancing, financial coaching (how apt!), crisis counseling and social media entrepreneurship.
His willingness to hustle and diversify his income streams is something anyone can emulate, even if they don’t have the bandwidth or energy to take on a whopping 10 at a time. Maybe start with one or two side gigs that can bring in some extra income.
There’s One Thing He Could Do Differently
Given how intensely frugal he is and how hard he works, you might think there’s nothing else Bradley could do to grow his income — short of cloning himself. There is one thing: investing.
Despite having a quarter of a million dollars saved, Bradley admits he hasn’t put any of that money into the market. He understands that many people think he’s leaving money on the table by not investing, and that they’re probably right. However, for him, decades of financial trauma would make it difficult to endure the market’s ups and downs without experiencing panic.
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He’s taken a step toward growing his money by starting a certificate of deposit (CD). “CDs are very good for me because I feel very safe, because I know I won’t pull the money out of it,” he said. “It feels like a guaranteed win.” He currently estimates he makes about $1,000 a month in interest.
As he works through his emotional issues with money — something that, frankly, everyone should do — he’s becoming more open to the idea of investing. He plans to start his journey into the market soon, and of course, he’ll be bringing all his followers along with him.
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This article originally appeared on GOBankingRates.com: How This TikToker Saved $250K in 11 Years — and Why He Could Have Earned Much More
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