BiggerPockets Money Podcast

BiggerPockets Money Podcast 75: The Most Efficient Path to Financial Freedom With Justin From Saving Sherpa

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Justin grew up without a lot of money in a small town. His parents divorced when he was eight, and his mother eventually quit her job to attend school. Necessity is the mother of invention, and a year of no income led to some very creative ways to squeeze more value out of every dollar.

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This “invention” stayed with Justin for his entire life, and he applies it to every facet of his finances. From his very low rent (in a high rent area) to his ridiculously low grocery bills to collecting travel rewards points, Justin gamifies every cent he spends.

Today we hear how Justin actually made money from his college scholarships and military stipends, how he negotiated a smoking deal on his rent, and how his five tenets of grocery shopping pay off.

Justin calls this “the lazy path to financial independence,” but really he’s just being incredibly efficient with his resources.

If you’re looking to cut expenses, listen to this show with a notepad handy.

Click here to listen on iTunes.

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In This Episode We Cover:

  • Justin’s journey with money
  • The idea of squeezing the amount of a dollar and cutting something out of your life
  • Joining the military through the ROTC program and getting free tuition from the government
  • What a career starter loan is and what his decision-making process was
  • What his position looks like after going to college
  • The moment he got serious about creating wealth
  • The reason he is still very unhappy after achieving his goals
  • The first investment he made
  • His expenses
  • How he lived on $24,000 a year in Boston
  • What’s inside his sacred freezer
  • The importance of getting to know your specific local grocery store
  • His commandments on groceries
  • On saving $69,000 a year
  • Investing in real estate
  • On retirement
  • How he found his apartment
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “Wasteful wasn’t just inconvenient, wasteful is dangerous.” (Tweet This!)
  • “There was never a good debt story.” (Tweet This!)
  • “Loans that you don’t take out aren’t necessarily a bad thing.” (Tweet This!)

Connect with Justin

 

The BiggerPockets Money Podcast is for anyone who has money… or want to have more! Join BiggerPockets Community Manager and Podcast Director Mindy Jensen and CEO Scott Trench weekly for the BiggerPockets Money Podcast! Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow your wealth. You'll get tips for getting your financial house in order and actionable advice from guests who have been in your shoes—and found their way out.